{"id":26330,"date":"2020-03-10T10:22:31","date_gmt":"2020-03-10T18:22:31","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=26330"},"modified":"2020-03-10T10:22:31","modified_gmt":"2020-03-10T18:22:31","slug":"explosive-month-in-indiana-elsewhere","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/explosive-month-in-indiana-elsewhere\/","title":{"rendered":"Explosive month in Indiana, elsewhere"},"content":{"rendered":"

Hoosier State casinos were raking it in hand over fist last month, as casino receipts shot 14.5% upward. The $192 million gross included $7 million from still-novel table games at Indiana Grand<\/strong> and Hoosier \"\"Downs<\/strong>. Yes, there was an extra weekend day but that hardly explains the boom. It’s certainly taken JP Morgan<\/strong> analyst Joseph Greff<\/strong> by surprise, as he reports double-digit increases at properties he had forecast would be flat. Caesars Entertainment<\/strong> dominated the state, whether in terms of dollars\u2014$37 million (+19%) at Horseshoe Hammond<\/strong>\u2014or percentage increase, as in 51.5% at new Caesars Southern Indiana<\/strong>, grossing $21 million. The two Caesars racinos raked in $25 million (Indiana Grand) and $18 million (Hoosier Downs), increases of 17% and 21% respectively. Also flexing some muscle was Belterra Resort<\/strong>, jumping 36% to $9 million, while Tropicana Evansville<\/strong> made 12% more for Eldorado Resorts<\/strong>, banking $13.5 million.<\/p>\n

Elsewhere in the southern tier, Rising Sun<\/strong> slipped 8% to $3.5 million, Hollywood Lawrenceburg<\/strong> nudged up 1.5% to $14.5 million and French Lick Resort<\/strong> slipped 8% to $7 million. Up north, the Majestic Star<\/strong> boats just couldn’t compete, down 3.5% and 13.5%, respectively, for grosses of $7 million and $4.5 million. Blue Chip<\/strong> was up 5% to $12 million and Ameristar East Chicago<\/strong> gained 9% to $18.5 million. Sports betting produced $187 million in handle and $11 million in \"\"revenue. $90 million of the total handle was basketball-related.\u00a0“The Super Bowl<\/strong> was the single most significant event in February, but Indiana<\/strong> has done exceptionally well with basketball,” said Jessica Welman<\/strong>, analyst for PlayIndiana.com<\/strong>. “That balance is helping Indiana avoid a post-football slump, which is common in jurisdictions such as Nevada<\/strong>.” The Hoosier State also doesn’t require in-person registration for mobile wagering … a sizable attraction for those living in neighboring states<\/a>.\u00a0“Indiana’s relationship with out-of-state bettors takes many forms, ranging from those who cross the border to make bets at nearby land-based sportsbooks to those who hop over the state border in cars and place bets by phone,” added Welman, whose agency calculates that 78% of Indiana sports wagering is being done online.<\/p>\n

One of the states where sports betting is stalled is Ohio<\/strong>, which nonetheless saw gambling revenues spike 10.5% for a $171.5 million gross last month. As usual, MGM Northfield Park<\/strong> led the state with $22.5 million, an 11% increase. Jack Cleveland<\/strong> grossed $19 million, up 10%, \"\"Hard Rock Cincinnati<\/strong> overcame some passing doldrums to record $20 million, a 12% gain, Hollywood Toledo<\/strong> was up 6% to $17 million and Hollywood Columbus<\/strong> recorded $20 million, a 5.5% uptick. Even the least impressive of the racinos, Belterra Park<\/strong> ($6.5 million) was up 8%. Churchill Downs<\/strong>‘ joint venture, Miami Valley Gaming<\/strong>, gained 16% to $12.5 million, Jack Thistledown<\/strong> jumped 16% to $12.5 million and Scioto Downs<\/strong> vaulted 16% to $16 million. Hollywood Dayton<\/strong>‘s $10.5 million was a 13% gain while Hollywood Mahoning Valley<\/strong> was up 9.5% to $11 million.<\/p>\n

Missouri<\/strong> was up 12% to $150 million, led by strong results out of Kansas City<\/strong>. Slots raked in $128.5 million, up 12.5%, while tables yielded $21.5 million, a 6% gain. Boyd Gaming<\/strong>‘s Ameristar St. Charles<\/strong> \"\"was the top performer in the state, making $21 million (up 2%), closely followed by Hollywood Casino St. Louis<\/strong>‘ $20.5 million (+11%). Eldorado finally had a good month at Lumiere Place<\/strong>, jumping 15% to $14 million, while Penn National Gaming<\/strong> banked $19 million at River City<\/strong>, up 8%. Down south, Century Casinos<\/strong>‘ acquisitions in Cape Girardeau<\/strong> ($6 million) and Caruthersville<\/strong> ($3.5 million), were up 17% and 21% respectively.<\/p>\n

Ameristar Kansas City<\/strong> led that market with $17 million, leaping 14%. Harrah’s North Kansas City<\/strong> took second place with $15 million and an impressive 25.5% gain. Argosy Riverside<\/strong> was close behind with $14 million (up 10.5%), while Isle of Capri<\/strong>‘s $6 million was good for a 12% uplift.<\/p>\n

Briefly stopping in Iowa<\/strong>, the Hawkeye State had a boffo February, catapulting 24% to $129 million. Leaving most of the small operators aside, we note that while Prairie Meadows<\/strong> racino led the state with $18 million (+17%), Horseshoe Casino<\/strong> was nipping at its heels\u00a0with $16 million, a \"\"39% surge. Harrah’s Council Bluffs<\/strong> gained 27% to $6.5 million. Eldorado’s Isle Casino Waterloo<\/strong> was up 22% to $7.5 million, while Eldorado also banked $5.5 million (+8%) at Isle of Capri Bettendorf<\/strong>. Ameristar Council Bluffs<\/strong> gained 18.5% to gross $14 million for Penn, while Boyd was up 23.5% at Diamond Jo Worth<\/strong> ($6.5 million) and 27% ($6 million) at original-flavor Diamond Jo<\/strong>. And Hard Rock Sioux City<\/strong> ($7.5 million, +22%) continues to make locals forget there was ever a Penn-branded riverboat in Sioux City<\/strong>.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Hoosier State casinos were raking it in hand over fist last month, as casino receipts shot 14.5% upward. The $192 million gross included $7 million from still-novel table games at Indiana Grand and Hoosier Downs. Yes, there was an extra … 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":[60,244,281,176,154,14,199,198,165,68,245,71,69,111,265,243],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/26330"}],"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=26330"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/26330\/revisions"}],"predecessor-version":[{"id":26331,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/26330\/revisions\/26331"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=26330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=26330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=26330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}