Most NWI casinos see lower revenue in February
By Karen Caffarini Post-Tribune correspondent March 8, 2013 4:31PM
Updated: April 10, 2013 6:10AM
Year-over-year revenues slid 9 percent overall for Northwest Indiana’s five casinos in February, continuing the downward trend.
Revenues totaled $93.1 million last month compared to $100.7 million in February 2012, according to the monthly revenue report issued by the Indiana Gaming Commission on Friday.
Dan Nita, senior vice president and general manager of Horseshoe Hammond Casino, said last year had the advantage of an extra day, but overall the revenues were pretty consistent with those in January.
He said the beginning of February was slow, but business gained momentum during the last two weeks and into March.
“The business remains soft, but we’re encouraged by the beginning of March. I hope this is the start of a new, positive trend,” Nita said.
Matt Schuffert, senior vice president and general manager of Ameristar Casino in East Chicago, said increased competition and the continuing struggling economy continue to have a negative impact on the region’s casino market.
“In addition, the recent end of the 2 percent tax relief act and the delay in processing tax returns this year impacted the discretionary income during the month of February,” Schuffert said.
According to the state report, Horseshoe Casino held steady at $45.6 million last month compared to $45.5 million the previous February while all the other casinos saw a 12 to 14 percent decline.
Nita said Horseshoe is able to take on a higher level of bettor, which has helped with its revenues.
Ameristar took in $19 million last month compared to $22 million in February 2012, Blue Chip Casino in Michigan City raked in $12.6 million compared to $14.9 million and Majestic Star Casinos in Gary took in a total of $15.9 million compared to $18.3 million.