May brought a modest increase in visitation to Indiana casinos — but a modest decline in gaming revenues — as compared to a year earlier, according to an Indiana Gaming Commission report.
Despite the mixed performance, Tropicana continued its trend of outperforming both the state average and its major competitors at French Lick and in Metropolis, Illinois.
Last month Tropicana saw 96,315 visitors, an increase of 2 percent as compared to May 2013, according to the Indiana Gaming Commission’s May revenue report.
Tropicana’s gaming revenue — the amount it earned from table games and electronic gaming — was $10.3 million, down 2 percent from a year ago.
Gaming industry observer Ed Feigenbaum, editor of Indiana Gaming Insight, said the rise in admissions is “a very positive sign” for Tropicana, even though its gaming revenues fell.
That, he said, is because folks who visit a casino and have a good experience are likely to return — so the more visitors a casino has, the more potential it has for repeat business.
In addition, Feigenbaum said, Tropicana is the only one of Indiana’s 13 casinos to show year-over-year revenue growth for the calendar year to date.
Indiana’s casinos as a group earned $198.5 million from gaming last month, a drop of 6 percent as compared to a year ago. The casinos had combined visitation of 1.6 million, a drop of 8 percent.
French Lick saw 69,333 visitors last month, a drop of 12 percent. The casino had gaming revenue of $6.1 million, a drop of 15 percent.
Tropicana’s Southern Illinois casino competitor, Harrah’s Metropolis, turned in a mixed performance last month. Harrah’s gaming revenue dropped 11 percent, to $6.9 million. Its visitation rose 1 percent, to 62,461.
French Lick may become a stronger competitor for Tropicana in coming months, Feigenbaum said.
That’s because in January the French Lick Resort expects to complete a 58,000-square-foot expansion of its meeting and event center. And whenever a casino expands or improves its facilities, it usually sees an increase in business, he said.
Tropicana Evansville did not respond to a Courier & Press email seeking comment.