August 10, 2010
BY KAREN CAFFARINI, POST-TRIBUNE CORRESPONDENT
Casino revenues showed signs of improvement in July, with all the Northwest Indiana casinos either holding their own or posting improved financial numbers.
Leading the pack, once again, was Horseshoe Hammond Casino, which just missed hitting the $50 million mark in one month for only the third time, coming in at $49.9 million. It took in $44.7 million in July 2009.
Joe Branchik, vice president of marketing, said Monday the Hammond casino experienced an 11 percent growth in certain revenues. It also saw an 8 percent hike in coins in at slot machines and 12 percent growth in table game drop, both of which reflect the amount customers spend at casinos.
"July is not typically a strong month for casinos, which is why we're very pleased with our results," he said.
Chris Riley, vice president of finance for the casino, also pointed out that the calendar was in their favor, with five Fridays and five Saturdays and the long Fourth of July weekend.
Ameristar in East Chicago had been struggling since the closure of Cline Avenue bridge, but held its own last month, having $21.6 million in revenues compared to $22.4 million last July.
Pete Savage, senior vice president and general manager, cited successful promotions and improved roads as two factors.
"We continue to see a positive impact as a result of the completed construction along the I-90 Indiana Toll Road between Exit 3 (Cline Avenue/Calumet Avenue) and Exit 10 (Cline Avenue/Gary Airport), completed in late May," he said.
Blue Chip Casino in Michigan City raked in $17.3 million in revenues compared to $17.2 million. Majestic Star Casinos continued its several month improvement streak over the same month last year, with Majestic Star I taking in $9.9 million compared to $9.7 million and Majestic Star II raking in $9.3 million in revenues last month compared to $8.4 million the previous July.
While the numbers look promising, Branchik would not go so far as to say it is a sign of an improving economy.
"We're not quite there yet," he said. "I'm excited about the revenue growth, but there are still challenges ahead for the rest of the year."
