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Tropicana Entertainment Q1 profit climbs 79.5% YOY

Tropicana Entertainment Inc. said its normalized net income for the first quarter came to 28 cents per share, an increase of 79.5% from 16 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.4 million, a gain of 79.5% from $4.1 million in the prior-year period.

The normalized profit margin climbed to 3.8% from 2.9% in the year-earlier period.

Total revenue grew 33.7% year over year to $193.4 million from $144.6 million, and total operating expenses climbed 31.1% year over year to $178.8 million from $136.3 million.

Reported net income declined 72.4% on an annual basis to $6.6 million, or 25 cents per share, from $24.0 million, or 91 cents per share.