Flat growth projected for casinos in 2010
Economic update from Dan Nita, senior vice president and general manager, Horseshoe Casino
Trends seen in the gaming sector late in the year are continuing into 2010, Dan Nita said.
Casino traffic is holding steady, but he said visitors of Northwest Indiana casinos are continuing to spend less money per visit. He said there is still a shift of market share between local venues that are able to proactively promote their new offerings at the expense of those reacting to transportation challenges such as the Cline Avenue bridge closure.
Nita said casinos should see flat revenue growth this year.
On a national level, bookings for rooms and the convention business should be soft this year, but Nita anticipates this business will pick up in 2011.
In the country's gaming capital, Las Vegas, the opening of about 6,000 hotel rooms at City Center has placed pressure on other venues to be competitive in room pricing.
"If someone wants to get one, it's probably the best time to get one at a cheaper rate," Nita said.
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