Yearly casino numbers show flat trend

Following a national trend, most casinos in Northwest Indiana posted fairly flat revenues for January compared with one year ago. However, the number of casino visits and revenues increased from December totals.

"We're not showing improvements over last year," said Ed Feigenbaum, the publisher of Indianapolis-based Indiana Gaming Insight newsletter. "The amount of money seems to not be in line with the solid years of these boats."

This is reflected in a national trend that sees customers visiting casinos but spending less money per visit, Feigbenbaum said.

"Customers are more prudent with their discretionary cash. They're tightening their budgets," he said. For example, Feigenbaum said, those who traditionally play the dollar slot machines are now frequenting the penny and nickel slots.

"People still want an escape but don't want to spend extra money."

However, compared with December, January numbers showed improvement across the board.

      In December 2009, fewer than 1 million total visits were registered at the five casinos, the first time that has happened since December 2008 at the height of the economic downturn. Total revenues for December 2009 dropped below $88 million, a first in the last two years.

     In January, by contrast, total visitor numbers increased about 8 percent to 1.02 million, and revenues were up 16 percent to $96.24 million at the five Northwest Indiana casinos.

     The closing of the Cline Avenue Bridge especially affected Majestic Star casinos in Gary during December, although East Chicago's Ameristar also saw declining numbers, Feigenbaum said. The Majestic Star casinos registered less than 89,000 visits in December, compared with more than 100,000 in every other month of 2009.

Revenues dropped to less than $14 million for that month.

    Although the bridge remains closed, customers found their way back to these casinos in January, a sign that is "encouraging and surprising," he said.

   "There's better signage now, and the casinos have spent a ton of money on advertising campaigns and incentives," he said.

   In January, the Majestic Star casinos had nearly 18,000 more visits than in December 2009, and revenues increased more than $2 million. Ameristar saw an increase of 15,370 more visits than in December and a boost in revenues totaling $46,719.

   Despite the more encouraging monthly figures, Feigenbaum said, the national trend of flat numbers will likely continue in 2010.

  "The rich casinos will get richer, and the poor ones are still struggling."

CASINO                     JANUARY REVENUE           % CHANGE FROM 2009

Ameristar                     $ 21.83 million              down 5 percent

Blue Chip                     $ 13.28 million              down 2 percent

Horseshoe                    $ 45.22 million              up 2.7 percent

Majestic Star I              $   8.19 million              down 21 percent

Majestic Star II            $   7.71 million              up 3.5 percent

Combined                    $ 96.24 million              down 2.2 percent