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Third Quarter Revenues Bounce Back At SEI Casinos

Posted On October 16, 2017

By Mike Perleberg

Belterra Casino Resort & Spa in Switzerland County, Indiana.

(Lawrenceburg, Ind.) – Third quarter numbers exhibit a trend of fewer gamblers at southeastern Indiana riverboats.

However, those players are wagering more money, leading to an increase in a more important category: gaming revenues.

Hollywood Casino Lawrenceburg, Rising Star Casino Resort in Lawrenceburg, and Belterra Casino Resort & Spa in Switzerland County combined for $82.6 million in adjusted gross gaming revenue in July through September, up 2.8 percent from 2016’s third quarter.

The local casino properties also combined for 859,705 visitors in the quarter, which was a 1.7 percent decline from the same period last year.

Hollywood Casino again led the way in money and visitors. Gaming revenue there was $42.1 million, a 7.1 percent increase from 2016’s third quarter. Attendance was virtually unchanged with 373,864.

Belterra Casino reported $28.8 million in revenue to the Indiana Gaming Commission, up 9.5 percent. Attendance there fell noticeably, down 3.3 percent to 289,756 people.

The riverboat in Rising Sun raked in $11.65 million in revenue, a 4.0 percent increase. Attending took a 2.7 percent dip to 196,085 visitors.

The impact on the tri-state area gaming market caused be Jack Casino in Cincinnati appears to be leveling off. The casino reported $47.83 million in adjusted gross revenue in the third quarter, accounting for about 37 percent of the market share – compared to 32.3 percent for Hollywood Casino Lawrenceburg.

Statewide, Indiana’s 13 casinos combined for $524.3 million in revenue and 4.02 million visits in the third quarter.