So big it’s practically an island unto itself, Horseshoe Hammond had another blockbuster month, dominating all Indiana casinos with $47 million in revenue — a 7% increase. Excepting a 4% upturn aboard Don Barden‘s beleaguered Majestic Star II, that was the only positive year/year comparison in northern Indiana and only of only four in the Hoosier State last month. Ameristar Casinos took a drubbing (-13%) from Harrah’s Entertainment, while Boyd Gaming‘s revamped Blue Chip (-11%) started to feel the impact of new tribal competition in nearby Michigan.
Down south, heavy snowfalls are blamed for mostly lousy results at the riverboats and racinos. However, even bad weather couldn’t keep patrons away from Penn National Gaming‘s Hollywood Casino Lawrenceburg vessel, which was 3% from last year and posted the second-best tally in the state ($36 million). Since February’s revenue figures were in line with January’s, one must conclude that if weather played a role, it was simply to make a mediocre situation worse.
Stop making sense. Casino revenues in Iowa are at their lowest ebb in five years, yet Gov. Chet Culver (left) is putting the pedal to the metal, demanding that four new licenses be approved, a nearly 25% increase in the size of the Hawkeye State’s industry (not counting tribal properties). Since Iowa is one of those U.S. casino jurisdictions where the economic health of the casino industry is somewhat at the mercy of the state, this would seem like the least advisable juncture to be further diluting an obviously weak market. Throw four additional casinos into the mix and, even in a recovery, it could take years for the existing casinos to restore the status quo ante.
Since Culver, like predecessor Tom Vilsack, can sack any Iowa Racing & Gaming Commission members anytime, anywhere, for any reason, the regulatory process is inherently compromised — if not corrupted outright. The golden goose may be ailing but a revenue-hungry Culver has it by the throat, yelling, “More eggs, damn you!”
Broadway in Vegas. It’s here. You just don’t find much of it on the Strip anymore. However, Las Vegas Academy is presenting a revival of West Side Story at Downtown’s Lowden Theater the stagecraft of which surpasses a recent Cirque du Soleil premiere that shall remain nameless.
