Total revenue at the five boats totaled $88.39 million in August, compared to $98.37 million in August of last year, according to the Gaming Commission. From $10 million dollar loss reported in August, 78% ($7,810,000) of that number corresponds to just one casino, the Horseshoe Casino Hammond. The casino closed the month with overall revenue sinking to $37.32 million, which represents a 17.3% decline compared to the $45.13 million in August 2010.
For Horseshoe General Manager Dan Nita, the main factor in this unusual decline is a giant loss reported at Horseshoe’s blackjack tables. With more than 7 million hands dealt at the casino’s 47 blackjack tables, the casino could expect about $4 million in winnings, explains Nita, however, the casino won only about $100,000.
From all the five boats operating in Northwest Indiana, Ameristar East Chicago, was the only facility that reported a revenue improvement, closing the month with $18,382 in gaming revenue, or a 0.09% increase compared to last year.
Revenues at the Majestic Star Casinos decreased 8% for total $16 million last month, while Blue Chip Casino in Michigan City was down 5.3%, with revenues shrinking from $15.7 million in 2010 to $14.8 million in 2011.
Revenue change since August 2010 by Casino:
• Majestic Star I: down $45,893 (-0.52%)
• Ameristar East Chicago: up $18,382 (0.09%)
• Blue Chip Casino & Hotel: down $779,903 (-4.98%)
• Majestic Star II: down $1.36 million (-15.88%)
• Horseshoe Casino Hammond: down $7.81 million (-17.3%)