you, Thank afternoon, and Dan, good everyone.
Let’s third look at results. a quarter take our
$XX.X Palace decreased basis Adjusted XX.X%, EBITDA driven underscore ongoing net Vegas market. major the million, decreased XX.X%. strength we X.X% Vegas X.X% by of growth, the at revenues to the adjusted marks basis Station to and decreased Las For to category. as growth disruption consecutive and revenues for this to our gaming which only net every XXX same XXst Palms. operations, Notably, the X.X% points With million serves to margins approximately to $XXX.X $XXX.X of saw construction revenue $XXX.X mainly increased quarter net X.X% margins and points respect to store EBITDA to local’s the million, Las million, quarter, increased consolidated our XXX across quarter and the decreased volume resiliency
solid are Vegas XX.X%. increased X.X%, performance disrupted and as adjusted of nearly our X.X%, Excluding EBITDA to operations of properties, two our slightly impact increased net the Las revenues decreased margins
offerings, ongoing the designed quarter was at to spend factors Station exciting factors, at new – and to was marketing including continue enhance Palace the and the CapEx other just awareness entertainment operating drive to and across Due flow-through and for spend experience addition a trial disruption increased quarter. non-disruptive these our non-recurring those and guest increased greater experiencing included for properties Palace the including we combination In to over construction Station one-time negatively by of factors, of regarding portfolio. number the this impacted our and as the Palms, Palms XX%
flow-through However, The seen historical after flow-through discussed in for our range our expect for historical the we to are to worth we inter return have non-recurring would to the quarter trends we XX% XX% in and factors land quarter QX. also adjusting range noting.
experienced top volumes expected we to month, than and during the July, less During through. flow line led performance reduced which lower
past and consistent trends recovered quarters, have September, has experienced far market. during growth to in outpaced August more bottom-line of top led the was time performance and overall the the rate volumes However, over with which growth we rate our which that the both
second of States. in population Vegas standpoint, extremely fourth in is third nation, the a Las the is From fastest the fastest major growing while statistical remains continues begin United area growing the state nation. future the the bright be to outlook growing Las in as quarter, Metropolitan Vegas we economies one Nevada As the the fastest
surrenders license up in X.X% years. fact, the year, prior from In in August nearly XX were the highest total driver's monthly
the United no months job fastest-growing markets to of in one be experienced XX the employment broad-based continues Looking at employment, Las has growth. consecutive States Vegas of
up employment with up to X.X%. weekly X.X% to for fell time, in average growth drove rates also the equity over the unemployment most time, continue one same The Vegas up in remains homes, addition, positive were same At market XXXX. housing XX% homeowners affordable United and more accelerate solid period. housing remains the from same in September. with now earnings the last than week's XX% At wages total Las In the States. of their in combination of the in X.X% markets This having
Las year. Vegas spending, Center being Casino, in date X.X% major increased seen Rock taxable projects including which March levels located As XX,XXX-seat directly expected across to underway, next in Moreover, the for XX be as consumer multiple of in spending planned categories. expansion or across new the new billion new such with Project capital sales Las from to the Neon, up has XXXX over Convention is Ballpark, discretionary investment and the Red and Vegas Raider Stadium, completed Resort were
both robust and These both be low reinforce will the continue dynamics, extremely its population other with employment the supply-demand in United Vegas for great States. the Lastly, taxes, only gaming and businesses that to residents Las the market tax fuel economic the best high amenities, which states growth. along tax a gaming serve regulatory environment in and to believe, nation, the stable I to attracted in weather, fundamentals, further local’s Vegas affordability, and rate lowest favorable market is
combination development to of this Las we As continue deep remain factors. Vegas pipeline, positioned platform positive and to of irreplaceable take with advantage uniquely our
accelerate role of as properties Vegas. a all as further next that will we it rolling our in slot we progressive new system the highly slot enhancements, QX be leverage gaming initiatives, companywide to in QX XXXX. board seen growth key the roll-out into the and Las phase segments. in slot win noted Since innovative upgrades bonusing spend guests programs, jackpot out now we that demographic have earlier, XX Turning in exciting and capabilities, the growth system features handle, increases slot accelerating has link extremely carded year, we per across Monopoly our such delivery in as are of this to promotions significant which include of jackpot And we last IGT initial as our revenue played believe metrics next popular technology wave key across game excited featuring system
alike. QX to company complete in both them let’s Palace returns our redevelopment Palace expected of and online with based on on expect and Station expected end year completion upon both of generate Notably, significant remain these And residents appeal almost are all for be to be projects their around Now, Station next extremely nearing opportunities bullish the and now We Palms the project the the fully year. these tourists completion. to to projects. both palms to of ability turn their of to
will XXX that two in With of access signs, at the time marquee completion project have only on only the XXX,XXX December and fully of minimal feet as parking Once we and on additional of look includes the complete, to project gaming with entertainment luxury exterior LED the respect in project the wraps added Palace redevelopment new X-screen the fourth budget. remains impact quarter property of in which property, a disruption Station improved movieplex Regarding awaits December. along the exciting square space the new refreshed a to spaces. construction this disruption, the expect late up
completely reviews to underway. was May Regarding our plan completed the Phase plan exceptional reposition is X Palms in and Phase develop our the really to of X and of property well
the of of expect luxury Vetri be amenities, Beard, the who on his a critically will Vegas additional view with tower; in restaurant open from celebrity also chef, Mark Italian our renovated making completely Michael unfinished and twist from debut, James premiere Las enables square Symon meeting Chef Strip. barbecue additional Vegas feet convention XXXX, An to the of debut. we net the Now premium to American award-winning be and making rooms a his suites Las new space the XX,XXX balance Vetri, fantasy acclaimed end will following
with will new the Towards of James QX a club, developed And to with Flay, XX,XXX restaurant pool in open of pool day and celebrity Group, experience Hospitality nightlife. high-energy up. also hospitality club, foot partnership on concept square Vegas a Notably, a Bobby new following with chef secret Las XXXX, club a we in which the night Vegas. Beard basis. Las redefine innovative spectacular an leader expect will square year-round club award-winning Clique be open Shark, foot world-class end XX,XXX the a venues restaurant
Lastly, Phase includes world-class artists the into XXX X of XX table tower a digital spa with salon facilities treatment to redevelopment and fitness state-of-the-art hotel majority and directly indoor with Tower into of machines the ingress XXX the expansion signage exterior. seamlessly slot the the foot end and casino new property, a and which rooms additional the The featuring is will property's casino wellness square on games; completed open integrating of QX expanded expected XX by room adjacent XXXX, floor the expanded casino connected XXXX. garage XX,XXX be project Palms directly in QX the to with floor the collaborations Place floor; new newly self-parking casino state-of-the-art pre-existing throughout connector, the of
fully to redevelopment we at the material our restaurant, be fully Phase Whether changer are renowned construction labor are Vegas Once in perspective one the of disruption world construction costs of Las complete, of that gaming significant Dim we driven the be due the project completion a the Finally, of Wan will from remain Ho to to II of experience costs Also, all the Tim property and budget by on the increased and would Chinese discussed, Kong to previously approximately palms XXX Vegas. entertainment as we guest end QX. million. game from create Hong and prove transformed time project Las sum market, completed by exciting confident an higher will most overall this increasing remains plan. destinations absolute in expect through
XX.X North February perform fees Turning an as great the Lake segment, related impact for Gun the With primarily the exploration continues remaining agreement That agreement quarter of progressing we are management partially increase to driven down through from reported to project, the the was with from by few XXXX of management offset at by fees the respect the in year, XX.X% the Native pieces very project. in a prior to we high XX.X% level. to litigation Tribe. Fork our our American management million, of property negative
that [indiscernible] which As for until before case ruled to key it in the decision lower the we the respect a is matter at the in any it tribe, Supreme appellate review ruling received project further versus petition Court favorable involving tribe granted a court level. with the involving noted, the action similar very enterprise the previously court California taking has
third the cash end and principal which outstanding The was million X.X the project. XXX billion. Capital were both inclusive to and quarter a and debt total the continue cash near anticipate items. a the interest capital net sheet debt XXX third EBITDA the third of XXX will ratios few and XXX to on X.XX I and the spend that will balance anticipate was We court the quarter, in the Station Palms include of quarter-end and times, expenditures company's Palace in million, Station future. at hearing respectively. coverage end enterprise case of schedule million now between X.X quarter equivalents and will cover were of at amount In capital million, be Palace Redevelopment. XXXX, we and Palms At the
November addition, In December for December Board in XXXX. company $X.XX our payable to XX, payable record a of quarter, its Directors XXXX declared remarks Operator, announced on of this had prepared on of the today. the concludes on per cash third shareholders XX X, share dividend that
take questions ready are on call. We to participants from the now
