Pinnacle Entertainment Inc. (NASDAQ:PNK) Q1 2015 Earnings Conference Call - Final Transcript

Apr 23, 2015 • 10:00 am ET


Pinnacle Entertainment Inc. (NASDAQ:PNK) Q1 2015 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Good morning, my name is Stephanie and I'll be your conference operator today.

At this time, I would like to welcome everyone to the Pinnacle Entertainment Inc. 2015 First Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will a question-and-answer session. (Operator Instructions)

Thank you. I would now like to turn the call over to Vincent Zahn, Vice President of Investor Relations. Please go ahead, sir.

Vincent Zahn

Thank you, Stephanie. Good morning, everyone. My name is Vincent Zahn, Vice President of Finance and Investor Relations for Pinnacle Entertainment. Thank you for joining Pinnacle Entertainment's 2015 first quarter earnings conference call.

On the call with us today are Pinnacle Entertainment's Chief Executive Officer, Anthony Sanfilippo; our Chief Administrative Officer, Ginny Shanks; and President and Chief Financial Officer, Carlos Ruisanchez. We'll begin the call today with prepared remarks from Anthony, Ginny and Carlos and then we'll open up the call for your questions-and-answers.

(Forward-Looking Cautionary Statements)

With that, it's my pleasure to turn the call over to Anthony Sanfilippo.

Anthony Sanfilippo

Thank you, Vincent. And welcome everyone to our 2015 first quarter earnings discussion.

We're pleased with how well our properties are performing and that our positive results extend throughout our portfolio of properties. We've terrific leadership in place that inspire, motivate and provide to our 15,000 team members, an environment for our team members to do their very best work.

We're seeing the benefits as reflected in our financial performance of our acquisition of Ameristar, which occurred just 20 months ago. We've diligently and thoughtfully worked to rapidly implement best practices realizing substantial benefits to our shareholders throughout both revenue enhancements as well as a more efficient operating structure.

Ginny and Carlos will spend time discussing specifically our performance today. Today's call is being held to discuss and review our first quarter's earnings performance.

While we're aware that there has been media speculation regarding strategic alternatives to our own separation plan, we will not address this in our prepared remarks or take questions on this topic today. We're going to stay focused on the results from the first quarter.

I'll now turn the call over to Ginny. Good morning, Ginny.

Ginny Shanks

Good morning. I would categorize the first quarter as one of gaining momentum. We saw improving trends coming out of the third quarter and those positive trends have continued through the fourth and the first quarters.

These improvements are broad based geographically and across all customer segments. With that as a backdrop, I am going to spend the next few minutes talking through highlights from the quarter in the following areas.

Continuing improvement in the business fundamentals, revenue synergy initiative, anniversary of the mychoice loyalty program at the Ameristar branded properties, profitable market share gains and the performance of both L'Auberge Lake Charles and Belterra Park.

First we saw improving trends during the quarter in spend per trip and visitation across all of our segments. These trends were evident throughout the first