Casinos in Indiana grossed 3% less last month but still far outperformed ($193 million) neighboring Illinois and Ohio. Patron traffic was 9% down but visitor spend rose 7%. Penn National Gaming‘s Hollywood Lawrenceburg got absolutely hammered by new competition from Caesars Entertainment in the Cincinnati area, dropping 30%. Rising Star (formerly Grand Victoria) took a 17% hit and Belterra lost 7.5%. Even Horseshoe Southern Indiana dropped a wee bit (2%) but Tropicana Entertainment‘s Casino Aztar was a bright spot, posting a 4.5% increase. Actually, there were more than a few such bright spots. Mid-state, Cordish Gaming‘s Indiana Live surged 26% and Hoosier Park was up 13%. In the northern tier of casinos, Boyd Gaming‘s Blue Chip was flat, Ameristar East Chicago was down 9.5% but Horseshoe Hammond rose 2%. Strange phenomenon: Although the two Majestic Star vessels are berthed together, one was flat while the other’s take fell 10%. Go figure.
If Pinnacle Entertainment‘s Belterra Park in Ohio is “a regionally unique destination,” as CEO Anthony Sanfilippo claims, what will that do to the original Belterra, in Indiana? Besides, Ohio racinos are already cannibalizing Buckeye State casino business, too. It’s difficult to be thrilled about the domestic gaming market right now.
Caesars Growth Properties CEO Mitch Garber has found himself in an unwelcome spotlight of late. His old activities in the Internet-casino demimonde rendered him toxic in Massachusetts and forced him to defend himself. To hear Garber tell it, he — like Caesar’s wife — has been above even the appearance of impropriety, but I know of no reason not to give him the benefit of the doubt.
Wounded veterans, some 80 in number, will be getting a free stay at The Mirage this Veterans Day weekend. Station Casinos is providing a free meal to vets at nine of its properties, Nov. 11. Kudos to both companies. Military veterans are often callously cast aside or left to fend for themselves when they return from war. It’s good to see that two casino companies are remembering their service.
Another casino partnership in Japan has been announced. A consortium of Fuji Media Holdings, Mitsui Fudosan Co. and Kajima Corp. is pushing for a casino concession near Tokyo Bay. So far, all the action has been by Nipponese companies. It’s looking as though American casino interests may find Japan a tough nut to crack — as it has been for centuries.
