{"id":16353,"date":"2015-07-08T09:40:20","date_gmt":"2015-07-08T17:40:20","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=16353"},"modified":"2015-07-08T09:40:20","modified_gmt":"2015-07-08T17:40:20","slug":"around-the-midwest","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/around-the-midwest\/","title":{"rendered":"Around the Midwest"},"content":{"rendered":"

Iowa<\/strong> was as flat as much of its landscape last month. Amidst the prevailing revenue stasis (sign of a perfectly sized market) there were a few significant movers. Isle of Capri Casinos<\/strong>‘ three properties were \"HET<\/a>up a collective 2%, while Boyd Gaming<\/strong> had a mixed\u00a0month, gaining 6% at Diamond Jo<\/strong> ($5 million) but ceding 3% at Diamond Jo Worth<\/strong> ($7 million). Customers migrated from racetracks to casinos, which cost Horseshoe Casino<\/strong> 9% of its business ($19.5 million) while Harrah’s\u00a0Council Bluffs<\/strong>\u00a0(left<\/em>) was steady. Ameristar Council Bluffs<\/strong> had a slightly adverse month, down 2% to $13 million. (Where were all those Council Bluffs players going?)<\/p>\n

The big gainers and losers were small fry like Catfish Bend<\/strong> (+15.5%) and Wild Rose Emmetsburg<\/strong> (-15%). New kid on the block Hard Rock Sioux City<\/strong> grossed $6 million, about par for the course for a Hawkeye State casino.<\/p>\n

* In Ohio<\/strong>, upstart Hard Rock Rocksino<\/strong> has caught and passed Horseshoe Cleveland<\/strong> for the top-grossing position in the state, posting a 16.5% gain and a $17 million gross. In fact, Dan Gilbert<\/strong> might want to look for somebody besides Caesars Entertainment<\/strong> to \"Cincinnati_Casino_Rendering\"<\/a>manage his casinos, most\u00a0of which did a face-plant last month. (Total Rewards<\/strong>, whither art thou fled?)\u00a0Horseshoe Cleveland<\/strong> tumbled 15.5% to $14 million and nearby ThistleDown Racino<\/strong> slipped 10% to $9 million. Luckily,\u00a0Horseshoe Cincinnati<\/strong>\u00a0(above<\/em>) remained healthy, up 5% for a $16 million gross. Everyone else in the state was up. Belterra Park<\/strong> rebounded from its disastrous opening, up 51%, although its $6 million gross was the state’s lowest. Pinnacle Entertainment<\/strong> has a ways to go.<\/p>\n

* Last year, Illinois<\/strong> was down 11% in June, so this year’s 1% dip looks like a victory. According to Deutsche Bank<\/strong> analyst Carlo Santarelli<\/strong>, foot traffic was down 6.5% but spending increased 8%. Other than Casino Queen<\/strong> (down 7%, $8 million), the significant \"HarrahsJoliet\"<\/a>movers in the market were mostly the Penn National Gaming<\/strong> properties. Despite recent gains, Argosy Alton<\/strong> surrendered 8% ($4 million)\u00a0while Hollywood Aurora<\/strong> dropped 5% ($10 million), leaving Empress Joliet<\/strong> (+7%, $11 million) to pull Penn’s chestnuts from the fire. Harrah’s Joliet<\/strong> had a very good month, up 7% on a $15 million gross. The Land of Lincoln grossed $118 million overall, with $35 million of that coming from Rivers Casino<\/strong> alone.<\/p>\n

* Statewide gross gaming revenue in Indiana<\/strong> was more robust — $175 million — although a 6% drop in admissions contributed to a 2.5% \"belterra\"<\/a>decline. Except for Belterra<\/strong> (+7%, $9 million), southern Indiana casinos continued to feel varying degrees of the Ohio Effect. Hardest hit was Penn’s Hollywood Lawrenceburg<\/strong> (-14%, $13 million) while Horseshoe Southern Indiana<\/strong> got off lightly (-4%, $20 million) and Rising Star<\/strong> (-7%, $4 million) was somewhere in between.<\/p>\n

French Lick Resort<\/strong>, recently voted one of the top 10 casinos in the U.S., enjoyed an 11% increase on revenue of $6 million. Despite a 7% drop, Horseshoe Hammond<\/strong> reveled in a $33 million gross while main adversary Ameristar East Chicago<\/strong> grossed $18 million, a 2% increase. A 4% drop in business at Blue Chip Casino<\/strong> ($13 million) made for not-so-good news for Boyd.<\/p>\n","protected":false},"excerpt":{"rendered":"

Iowa was as flat as much of its landscape last month. Amidst the prevailing revenue stasis (sign of a perfectly sized market) there were a few significant movers. Isle of Capri Casinos‘ three properties were up a collective 2%, while … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[40,60,154,198,190,165,7,58,68,86,85,91,69,30,146],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/16353"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=16353"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/16353\/revisions"}],"predecessor-version":[{"id":16354,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/16353\/revisions\/16354"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=16353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=16353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=16353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}