Casino revenues show June doldrums
By Karen Caffarini Post-Tribune correspondent July 8, 2014 10:42PM
Updated: July 9, 2014 2:04AM
This year’s trend of monthly year-over-year improvements in casino revenues hit a snag in June, with the entire Chicago market showing a 9.5 percent decline over June 2013.
“The market in general looked more like what we were seeing in March and April,” Chris Albrecht, assistant general manager of Horseshoe Hammond, said Tuesday.
“The softness continues, not just on our side of the border, but in the region in general,” Albrecht said.
Albrecht said revenues from Northwest Indiana’s five casinos dropped a little more than 8 percent in June, going from about $83.7 million to $79.1 million, while Horseshoe’s decline was about 10 percent.
He said the five Illinois casinos that comprise the remainder of the Chicago market showed a 9.5 percent drop over the previous June with the state’s newest casino, The Rivers in DesPlaines, in the mix. Without the Rivers, the drop was even more stark, at 11 percent.
Albrecht said the recent good weather could have played a role, as more people might have decided to do outdoor activities after being cooperd up inside for months during the winter.
Ameristar Casino in East Chicago saw the only year-over-year increase in revenues in June, going from $16.2 million to $17.6 million. Revenues at Blue Chip Casino in Michigan City dipped from $13.5 million to $13.2 million, Horseshoe Hammond’s revenues dropped from $38.4 million to $35.1 million and Majestic Star’s two casinos dropped from $15.6 million to $13.2 million.
Before June, Northwest Indiana’s five casinos were showing softer total declines each month since January, when a combination of a soft economy and cold, snowy winter resulted in a 17 percent drop in revenues over the previous January.
In May, combined revenues from the five casinos declined 3.6 percent. The overall revenues were boosted by Ameristar and Blue Chip, both of which showed modest increases over the previous May.
Albrecht said a busy three-day Fourth of July weekend should help boost July’s numbers for the Northwest Indiana market.