Northwest Indiana casinos’ revenues continue to slide
--Post-Tribune February 8, 2013 3:27PM
Casinos revenues in Northwest Indiana continued to drop in January, the Indiana Gaming Commisison said Friday, February 8, 2013. | File~Sun-Times Media
Updated: March 10, 2013 6:45AM
Northwest Indiana’s five casinos continued on a downward spiral in January, showing a year-over-year decrease in revenues for the fourth month in a row.
Casinos throughout the state and the Chicago market aren’t faring any better, according to Erin Chamberlain, vice president and assistant general manager of Horseshoe Hammond Casino, which took a particularly hard hit in January.
“A lot of us have been moving in the same direction at the same time. No one has been able to grow the market,” Chamberlain said.
The Northwest Indiana casinos took in about $79 million in January, compared to almost $87 million in January 2012, according to the monthly casino revenues report issued by the Indiana Gaming Commission on Friday.
Ameristar Casino in East Chicago took in $18.4 million in revenues in January, compared to $18.9 million the previous January, Blue Chip Casino in Michigan City raked in $11.9 million compared to $12.6 million, Horseshoe Hammond had $35.5 million compared to $40.9 million and Majestic Star I and II Casinos in Gary took in $14.3 million compared to $15.5 million.
Chamberlain attributed much of Horseshoe’s drop to some lucky high-stakes winners at the poker table.
“That definitely impacted us. We would still be off from last year, but would be more in line with the market,” she said.
Chamberlain said the overall Indiana market was down 9 percent year over year in January, while the Chicago area market dropped almost 5 percent.
She added the entire Chicago market is down almost 10.5 percent from December 2012.
Chamberlain did not believe the ongoing lackluster numbers are an indication of people losing their appetite for gaming. While revenues drop, attendance is holding steady, an indicator, Chamberlain said, that people are spending less while there, but still coming.
Indiana Gaming Commission reports show that casino revenues also dropped year over year from October through December 2012 and held steady in September with a mere 0.4 percent hike.