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Rising Star Casino Cut $3M In Operating Costs In 4Q

Posted On March 11, 2014

By Mike Perleberg

file photo

file photo

(Rising Sun, Ind.) – Rising Star Casino Resort’s parent company gave its end of year quarterly profit report Monday, painting a not so pretty picture of the revenues the property is producing.

Executives with Las Vegas-based Full House Resorts said the Rising Sun riverboat had revenues of $14.7 million in the fourth quarter of 2013, compared to revenue of $19.1 million in the prior year.

The company attributes the decline to severe weather in December, two new competitors in the marketplace and a much lower-than-expected overall market growth in the Ohio and Indiana competitive region. The extreme weather in January and February could continue to have an impact on the riverboat’s bottom line.

“We were disappointed with our fourth quarter results, as increased competition and adverse weather conditions led to lower-than-expected performance,” said Full House Chairman and CEO Andre Hilliou. “On the positive side, we have been pleased with the performance of the new 104 room North Star hotel tower adjacent to our Rising Star casino in Indiana, and construction continues on the hotel at our Silver Slipper property in Mississippi.”

Full House cut its operating expenses in the fourth quarter by $6.2 million to $32.4 million. A bulk of those cost reductions – $3 million – were made at Rising Star. Another $2.5 million in reductions occurred in connection with the company’s casino in Mississippi.

Hilliou said Full House Resorts remains committed to building itself “as a locals-oriented regional casino company and continue to evaluate opportunities to achieve this end in a measured and conservative manner.”

9 comments
dj7340
dj7340

The reason names are announced fri. sat. sun. is they played mon. earning 4 extra entrys for each $100.00 played. I know one that had 15,459 points played. $4.00=1 point. so, go figure.Ihave heard you say the same words there. Why do you come back? You sound bitter and jealous that you can not play as hard as some. A lot of us are tired of your words. don't come there if you don't like it.Best comps, best casino around. Diamond player.

truth2power2014
truth2power2014

The statement by Chairman Hilliou shows that Full House has no commitment at all to its regional patrons or employees - only to the full House bottom line, which they seem to believe they can support with the local yokels and a few high rollers who haven't died off yet.

Good luck with that when everyone else has abandoned you!

truth2power2014
truth2power2014

I don't see how they can be "pleased with the performance" of a new hotel that is empty on weekdays (just like the casino) and only filled on weekends because they give away free rooms!

The reason attendance and revenue continue to decline at Rising Star is because people are sick and tired of hearing the same select few names announced over and over and over again at the weekend "drawings" - sometimes two, three or even FOUR TIMES on a three-day weekend, tired of the tight machines that rarely hit a bonus and when they do, hardly pay anything, bored with the same food week after week in the buffet and disgusted with the way upper management treats the employees and patrons (except for the high rollers and their golf buddies, of course).

If things don't change pretty soon, and the long-promised "reforms in their drawing algorithms" don't start showing some results (even with the "reforms" supposedly in place, the same people were drawn time and time again in March), Rising Star  will continue to see a sharp decline in attendance and revenues, which I suspect is going to give them an excuse to go whining to the Indiana legislature for some kind of tax break to make sure the owners keep their nice slice of the pie.

purtyawesome
purtyawesome

We've had a councilman running back and forth to Indy for several years, the only thing he continues to bring back is doom and gloom. Not one piece of evidence or information to support how we can make a positive partnership or opportunity for anyone.  Instead of sending him to Indy to tell us what we already know and feel. Bring back a leader who made things happen for us. MONTE DENBO! Whether you like the man or not, when he went to Indianapolis- he spoke, they heard and we all felt good about it!

MandyNTerryTurner
MandyNTerryTurner

It's also because the boat is so out dated hardly any new slots it smells like pee and the housekeeping on the boat is horrible plus the fact that they have cut hours of business on the queen city market and closed the coffee shop not counting one day the over priced buffet is open next time you have to order thru the pub get you cap together rising star maybe ppl will actually come and spend money it's horrible there

truth2power2014
truth2power2014

@dj7340  Gee, "dj" - I was wondering how long it would take Rising Star to find someone to post a reply! Two months! lol If you have heard me "say the same words there" (Rising Star, I presume) and are tired of my words, here are a few suggestions - quit coming, if you don't like it - or - quit listening in on my conversations, nosey!!