Northwest Indiana's five casinos collectively posted a 6.5 percent increase in gaming revenues over July 2014 and a 13.4 percent hike from June.
The second half of the year got off to a positive start for Northwest Indiana's five casinos, which last month collectively posted a 6.5 percent increase in gaming revenues over July 2014 and a 13.4 percent hike from June.
"It's a pretty healthy story," Chris Albrecht, vice president and assistant general manager of Horseshoe Hammond, said Monday, referring to the July revenue report issued earlier that day by the Indiana Gaming Commission.
"It's a good story across the board," Albrecht said.
Albrecht said slots continue to be slightly down, but strong table game action and an extra Friday provided the boost that enabled three of the five casinos, including Horseshoe, to show a hike in revenues last month, in some cases despite a drop in attendance.
He said revenues generated per visitor were much healthier last month than in the past, but added that while the market has somewhat stabilized, it's too early to tell if this is a sign of an improved economy.
Matt Schuffert, vice president and general manager of Ameristar East Chicago, expressed optimism.
"While it is difficult to speculate, we remain hopeful that the entire gaming market will continue to show growth," Schuffert said.
According to the IGC report, the region's five casinos took in a total of $85.51 million in revenues in July, compared to $80.38 million in July 2014.
Ameristar Casino in East Chicago posted the biggest hike, bringing in $20.44 million last month compared to $17.63 million in July 2014, an increase of almost 16 percent. Its attendance increased from 207,293 to 211,755.
Schuffert said he's excited about the increases in attendance and revenues and is looking forward to continued momentum.
He pointed out that the casino has shown increases in revenue during 10 of the last 12 months and an increase in market share for 16 consecutive months, which he attributed to the casino's focus on providing outstanding gaming and entertainment experiences for its guests.
Horseshoe Hammond chalked up a 9 percent increase, raking in $37.67 million compared to $34.52 million, while Blue Chip Casino in Michigan City had a 2.5 percent hike, with $14.53 million in revenues compared to $14.17 million.
The Majestic Star Casinos in Gary posted the region's only year-over-year revenue losses for July. Majestic Star I took in $7.2 million in revenues last month compared to $8.28 million in July 2014 and Majestic Star II had $5.67 million in revenues compared to $5.78 million.
Albrecht said the Northwest Indiana casino market fared better than the overall Chicagoland market, which showed a 4.9 percent increase in year-over-year revenues in July and a 10.4 percent hike in revenues from June to July.
He said that the Illinois casinos appear to be more adversely affected than Northwest Indiana casinos by the video gaming terminals now found in Illinois bars and other businesses.