SEI Casino Revenues Off By 29% In April
By Mike Perleberg
(Lawrenceburg, Ind.) – New casino gaming numbers are out from the Indiana Gaming Commission.
The latest monthly data shows that in April, the three local riverboats in Lawrenceburg, Rising Sun, and Switzerland County saw their combined revenue total $29.77 million. The figure is a decrease of 29 percent from April 2013.
Hollywood Casino Lawrenceburg reported revenue of $16.67 million, down 28 percent from $23.43 in the same month last year. The revenue decline was about the same at Rising Star Casino in Rising Sun, which reported $4.16 million in revenue last month. Belterra Casino Resort & Spa in Switzerland County saw its revenues fall 29 percent to $8.93 million.
Many casino patrons who once frequented the Indiana riverboats are instead taking their gambling dollars to competitors in Ohio. Visits to the three riverboats in April were down 21.9 percent to 305,434 combined.
Individually, Hollywood Casino attracted 144,878 people in April, off by 25.5 percent. Rising Star’s admissions totaled 66,418, down by 13.7 percent. In Switzerland County, Belterra’s 94,138 visitors were down 21.4 percent from last year.
The Evansville Courier & Press reported Sunday that the state legislature could form a summer study committee to consider how to address the increased competition in Ohio and other neighboring states. Indiana’s tax revenue from riverboat and racing gaming has declined from $876 million in 2009 to about $752 million in fiscal year 2013, with much of the decline credited to the southeast Indiana boats.
Indiana Senate President Pro Tem David Long (R-Fort Wayne) told the newspaper that the state is at a “seminal moment” with its casinos.
In Lawrenceburg, city officials have cited the lower local gaming revenues for a need to scale back spending for luxury items such as Lawrenceburg Fall Fest.
Up until recently, Horseshoe Casino in downtown Cincinnati had been credited almost exclusively for the southeast Indiana riverboat declines. That could change when the May casino numbers come from the IGC in June.
Belterra Casino owner Pinnacle Entertainment opened the new Belterra Park racino in Hamilton County, Ohio’s Anderson Township on May 1. The former River Downs race track underwent a $300 million facelift to include 1,500 video lottery terminals, a larger track, six restaurants, and a buffet.