[Southsider2k12]

http://www.nwitimes.com/business/gambling/...d51fb34545.html

Joseph S. Pete joseph.pete@nwi.com, (219) 933-3316
Northwest Indiana casino boat revenues sink

Northwest Indiana casino revenues were down again in August as compared to one year ago.

Ameristar: $19.12 million, up 2.7 percent
Blue Chip: $14.23 million, down 0.4 percent
Horseshoe: $38.47 million, down 7.5 percent
Majestic Star I: $7.93 million, down 8.8 percent
Majestic Star II: $5.9 million, down 19.1 percent
Total: $85.67 million, down 5.2 percent

Source: Indiana Gaming Commission August revenue report

Revenues at Northwest Indiana's casinos dropped 5.2 percent in August, the ninth straight straight month of year-over-year declines in their total take.

The four boats along Lake Michigan's southern shore raked in $85.6 million in revenue overall in August, as compared to $90.4 million in August 2013, according to the Indiana Gaming Commission's monthly revenue report.

Northwest Indiana's gaming sector fared better than it did in July, when across-the-board revenue plunged by 10.1 percent.

"We're much more encouraged than we were 30 days ago," Horseshoe Casino General Manager Dan Nita said. "Northwest Indiana casinos had been down 10 percent on a year-to-year basis, far in excess of the trend of decline we had been seeing."

Table game volume dropped 1 percent in August at Horseshoe, while slot volume fell 6 percent, Nita said. The casinos are facing intensified competition from slots in bars and restaurants in Illinois, as well as comparable games that are now available on mobile phones.

Entertainment events such as a recent concert by the rock band Journey continue to drive foot traffic to the casino, Nita said. Several draws – David Spade, Gladys Knight and Jeff Dunham – are coming up.

There's less reason for gloom than there was a month ago, but casino revenues are still down 8.8 percent so far this year, Nita said.

Only Ameristar in East Chicago increased revenue in August, pulling in $19.12 million, or 2.7 percent more than it did in August 2013.

Revenues at Blue Chip Casino in Michigan City dropped only slightly, falling by 0.4 percent to $14.23 million. Horseshoe Casino in Hammond saw a 7.5 percent decline.

Majestic Star Casino in Gary suffered the steepest year-over-year decline. Majestic Star I and II revenues fell 13.5 percent to about $13.8 million.

[Tim]

Maybe peeps got tired of throwing their money down the toilet.