1Q Revenues up at SE Indiana Casinos
April 11, 2010
Betting increased slightly by gamblers at the three riverboat casinos in Southeast Indiana during the first three months of 2010 as statewide casino revenues dipped, according to data released Thursday.
Casinos in Southeast Indiana raked in $170.1 million gambling revenues through the end of March, up 0.4 percent from the $169.4 million in the first quarter of 2009. Statewide, gambling revenues slid 1.3 percent to $705 million during the first quarter of 2010 from $714 million a year ago, according to data from the Indiana Gaming Commission.
Local riverboat attendance also outpaced Indiana as a whole: visits by gamblers rose 1.5 percent in the first three months of 2010 to 1.7 million trips. Statewide, attendance barely increased by 0.2 percent to 6.6 million visits.
Local results were mixed as Hollywood Casino Lawrenceburg continued to add market share at the expense of its two local rivals. Last summer, the old Argosy casino unveiled a new, larger gambling boat with the new "Hollywood" theme.
Hollywood grew gambling revenues 8.6 percent to $111.5 million in the first quarter of 2010. Attendance rose 15.3 percent to just under 1 million - 997,910 through March 2010. The casino's market share in the last year has jumped to 65.6 percent of the gambling revenue from 60.6 percent a year ago and 57.2 percent of the attendance, up from 50.3 percent.
Belterra Casino Resort & Spa in Florence saw its revenues drop 11.9 percent to $34.5 million through March. Attendance slid 10.2 percent to 425,000.
Grand Victoria Casino & Resort in Rising Sun saw its revenues drop 12.5 percent to $24 million in the first quarter. Visits dropped 15.2 percent to nearly 323,000. |
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