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[Tim]

http://thenewsdispatch.com/articles/2013/0...98639832813.txt

MICHIGAN CITY — Statewide, casinos had another disappointing year in 2012, with adjusted gross revenues falling short of the previous year’s pull by about 3.5 percent, or a difference of almost $100 million, according to Larry Rhoades, assistant accounting director of the Indiana Gaming Commission.

But Blue Chip Casino, Hotel and Spa, had a relatively flat year; its adjusted gross revenues were up – but only just slightly – by about $250,000, or “a rather negligible amount,” according to Rhoades.

Ted Bogich, vice president and general manager of Blue Chip, was also quick to point out that increased revenues do not necessarily indicate an increased profit for the casino.

“In general, what gets reported by the (Indiana) Gaming Commission, those are revenue numbers – they’re not profit numbers ... that’s just gross gaming,” Bogich said.

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Bogich added that Boyd Gaming, the public company that owns Blue Chip, does not discuss its finances any more than necessary to protect the viability of its stocks.

However, Bogich acknowledged that new casinos in southern Michigan and the possibility of even more casinos coming into play in Illinois have stiffened the casino’s competition.

Elsewhere throughout the state, Rhoades said other casinos are also feeling the “hurt.” He said 2012 revenues were particularly impacted by new casinos in Ohio, which bit away at the revenues of their competitors in Indiana.

With the possibility of new casinos in Illinois and Michigan, Bogich said Blue Chip is trying to be proactive about the competition.

“We have really transformed Blue Chip to be a regional gaming and entertainment destination, which is different from how our property was positioned before,” Bogich said. “By doing that, we’re really able to expand the reach to places as far away as Chicago, southern Indiana and Michigan, predominantly, but even as far away as Wisconsin. We’re also focusing on improving the quality and quantity of amenities – four bars, live entertainment with a headliner at least once a month. ... That has helped us remain more competitive.”

In 2012, Indiana tax revenue from admission and wagering taxes on the Blue Chip Casino was about $50.5 million.

At a time when Michigan City receives about $10 million annually in taxes from the casino, in this case, what is good for the casino is also good for the city.

However, with the speculation that casino revenues will continue to fall statewide in the future, it is too early to tell whether Blue Chip will remain resistant to the “negative trend.”

Some have reasoned that state legislators could eventually respond to the increased competition from other states by lowering taxes on Indiana casinos.

Bogich said he believes state legislators will continue to monitor casino revenues and act accordingly.

“Certainly any business would like the ability to compete on a fairly level playing field. ... But that’s not necessarily the case,” Bogich said. “In Michigan, you also have Native American-owned casinos. ... We think as the legislation meets this year and the year after, we will see what happens and will try to do what can to make sure we remain competitive.”
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I hate these places. Been to Las Vegas a couple of times. As I'm not a pro-level gambler every person in ANY type of service job - be it waiter or black jack dealer or what ever - looked at me like I had SUCKER written on my forehead. It would be interesting to know how many people in MC have lost their homes to gambling.