The five casinos in northwest Indiana have reported a year-on-year drop in overall revenues for August as all but one of the riverboats that make up Gary’s Majestic Star Casino detailed a coinciding decrease in player numbers.
According to a report from the Post-Tribune newspaper, the Indiana casinos took in a total of $76.47 million for the 31-day month, which represented a 4.9% decline from the $80.49 million recorded for August of 2015.
“While the market was down 4.9% in Indiana, it was pretty much to be expected given the shift in extra days,” Shannon McKellar, Marketing Vice-President for the Horseshoe Casino Hammond, told the newspaper. “We had an extra Tuesday and Wednesday this August compared to an extra Saturday and Sunday last August.”
Matthew Schuffert, Senior Vice-President and General Manager for the Ameristar Casino Hotel East Chicago, told the Post-Tribune that having the fifth weekend day last year was an added bonus that helped to boost attendance and revenues.
“All in all, August was a very solid month for us,” said Schuffert.
The Ameristar Casino Hotel East Chicago, which is owned by Gaming And Leisure Properties Incorporated, raked in $17.54 million in August, which was a drop of 11.7% year-on-year, while the Horseshoe Casino Hammond brought in 2.9% less at $33.08 million.
McKellar reported that annual takings for the Horseshoe Casino Hammond, which is owned by Caesars Entertainment Corporation, are so far down by 2% to date while declaring that this weakening is beginning to “taper off”.
“The good news is, it looks like we’re moving in the right direction,” McKellar told the Post-Tribune.
Regarding the area’s other casinos, the Majestic Star Casino I brought in $7.22 million for August, which is 2% less than for the same period last year, while its Majestic Star Casino II neighbour reported a 7% reduction to $5.18 million. There was moreover a 3.9% decline in revenues for Boyd Gaming Corporation’s Blue Chip Casino, Hotel And Spa in Michigan City as its monthly total came in at $13.45 million.
The newspaper reported that McKellar explained that Chicago area casinos in Illinois and Indiana together experienced a 1.2% increase in August revenues although she was unable to divulge her source.