Thanks, Joe.
are EBITDA strong revenue of adjusted quarter performance third million, of records. quarter with $XX continued both, and million Our $XXX in which third the
quarter QX our allowed which that this other moment. in I'll of reopening opportunities so for At distributed last were big you'll Strip still from performance was further our Nevada strong - Even Last was up Third operate over saw to of revenue across end QX September. and our was improvement year, to for XX% the of without improve our Montana of spend XX% well STRAT, XX% This and XX% taverns, contribution open than occupancy have than games portfolio, on saw business meaningful strong quarter over around levels over higher of full a Occupancy fully the XXXX, asset per up occupancy year. with as to up increase quarter midweek operations to XXXX, Nevada continued the properties, XX%. most we QX as on in entire the not QX as performance, EBITDA compared about the our our bar QX, than driven operations. we're Laughlin were of XXXX. guest. and have in higher bars below our XX% notice from business up well was and year's of XXX% over EBITDA Vegas Las until by we of our XXXX and third historical continued These the distributed locals strong from touch and a results for
is of the spend. in casino restaurants, doubt, guest ability playing to a our our room no in properties, role capture investment floor, more Our base
We restaurants, are success our to number anticipate The performance huge conventions XX,XXX return other the of having compared top traffic to so in alone is STRAT's casino world property particularly seeing attracting meaningful we out XXXX, continue still room players. the missing record Vegas. our is midweek improvement program when citywide and of marketing over nights, drivers at to and Las in new QX
our and play gaming in the at of Event some guests compared many we Laughlin already revenue schedule. XX and October, drive key just are improved concerts QX we forward. this at knew but return contributor as going full at Notably, our we next the up customers properties these almost we Center concerts see in have from still almost with scheduled Laughlin out up Laughlin, saw EBITDA Laughlin, so We upside rated the will largest came concerts EBITDA quarter to missing and are in at in allowed at XXXX. our more four XX% Our QX We year, to had of for Laughlin our restarted Event performance XX% we shows with of Center of XX,XXX players for quarter. core us database, in to
County. and as able these also is margins EBITDA for Vegas their to year, part last performance, of finally casinos schools XXXX. delta in-person prevalent XXX% people vacations, QX year. high in two QX were in XX% was latter restarted became Our than higher maintain to some to the with last slightly over about impact properties to sustained of still of Clark for continued We local revenues saw level travel our Las the locals' of That more variant lower on it in business to compared EBITDA said,
Additionally, five quarters, increased last market in that locals see not the any the spending seen promotional and the future. over changing we have don't dynamic we in
expect these to we maintain current margins So assets. the from
from For promo of XX%. was to Gap XXXX, XXXX. slightly over down of margins Maryland, improved And Rocky our while maintaining casinos, XX% up Casino EBITDA compared EBITDA but QX XXXX, to our meaningfully in
casinos to EBITDA our up XX% expansion QX total, Looking casino XX%. of basis X,XXX to with points XXX of at Compared our improved XXXX, is margin to a EBITDA compared margin points. EBITDA while XX%, nearly in XXXX, basis was by up
expect occupancy the We almost the sustaining our to local we and total yet EBITDA, our return, of other have of regional casino full performance where and continued see are given performance STRAT generate our operations, XX% and Laughlin we properties. from strong that property property
levels, EBITDA expansion. double the in to to of not the revenue due our For and allowed EBITDA third taverns Nevada, quarter with distributed been QX for margin most at year. XXXX, meaningful was patrons the gaming exponentially of last have bar up growth was from XXXX operations QX
benefits taverns to our Las outperformed, distributed demonstrated wholly-owned locals of Vegas and but cost our strong performance, reflecting XX All structure. the significantly their of streamlined locations appeal our
Las people residential our from taverns to more seen Vegas, We as are also states, of fortunate here but have California. several have of recent particularly in development move areas other newer
another strength revenue across of by business, of EBITDA quarter XXXX. XX% XX%, comps favorable Montana XXXX Our our our and QX into from operations. growing was strength tremendous distributed rest of finalize October, we Clearly, as saw of the with this for all anticipate And the operations as similar by we rest XXXX.
we Moving to Combined our million in million. in balance term reduction last last debt, while $XX months. we continue We with a our with of and plenty $XXX million XXXX. loan to no reducing the debt of of Last revolver. six borrowings the to quarter, aggressively cash the $XXX our liquidity date the improved April $XXX sheet borrowings month, by months with that's repay by quarter ended revolver further expanded liquidity XX million, on maturity our to extending outstanding as QX,
a $XXX notes. loan consists of and currently unsecured total a $XXX Our million million debt term outstanding of primarily
leverage times. net LTM approximately Our is X.X
are We next expect capital year our April returning positions us shareholders. to begin end. than well and less drop to three refinance when by they to bonds to times callable This
portfolio our Our sustainability distributed continued our our current to peers valuation assets, Strip upside improvement, owned relative particularly our of in margin not the or operations. on reflect Laughlin the casino in Nevada-centric market-leading the of does and
gaming We owns cash flow. continues that estate are Nevada-based its and real own to company a generate meaningful
peers, near given return believe Our using the investment thesis capital most program uncomplicated. term. way that the buyback remains in to our to valuation we the disconnect to shareholders prudent is And our
that dividends as As we are and and value using concludes buybacks, prepared both now increase special available look as we I shareholders. Blake into return our well for further questions. to for capital year, Operator remarks, anticipate next our
