Indiana climbs

Mar 23, 2010 7:09 AM

Mississippi slips to No. 4 in revenues

Indiana last year ranked as the third most popular gaming destination in the country, replacing Mississippi, which reported $2.46 billion to Indiana’s $2.58 billion in gaming revenue.

Though Indiana has far fewer state-licensed casinos – 13 to Mississippi’s 30 – it has a much larger demographic base to pull from with cities such as Chicago and Indianapolis within driving distance of its properties.

Mississippi officials think another reason for the change in the rankings is a smoking ban enacted in neighboring Illinois, which could have driven gamblers across the state line into Indiana.

Nevada and New Jersey continued to hold the top spots in 2009, reporting $9.76 billion and $3.9 billion, respectively.

New Hampshire Senate votes to expand gambling

According to an article by Union, last week New Hampshire’s Senate Finance Committee voted 4-2 in favor of Senate Bill 498, which would expand gambling in the state.

The bill authorizes up to 17,000 video slot machines at six separate locations, including three tracks and three new casinos, as well as table games for an additional fee of $10 million. The gambling bill would collect $50 million in license fees from Rockingham Park in Salem, as well as a proposed casino resort at Green Meadow Golf Club in Hudson.

Meanwhile dog tracks at Seabrook and Belmont would be required to pay $20 million for a license, while North County would have to pay $10 million each plus a table game fee. While gambling appears to have 13 votes it needs in the Senate, it still faces strong opposition from the House.

Mississippi gaming revenue increases 2.7% in February

February gaming revenue for Mississippi increased 2.7%, according to the Mississippi Gaming Commission, albeit versus relatively easy comparisons with February 2008 revenue declines of 14.7%.

Revenues have finally increased after continued decline with November and December, 2009 revenues falling 9.5% and 9.4%,respectively, and January 2010 revenues falling 11.3% due to the increase in competition from Florida and Alabama video parlors.

Gulf Coast results were down 3.9% versus a year ago, while River Counties revenues posted an increase of 8.3%. On a statewide basis, slot capacity was down 3.7%, while win per slot per day was up 6.8%. Meanwhile, win per table per day was up 6.0% as table units declined 3.2%.

Colorado gaming revenue up 2.5% in February

The Colorado Division of Gaming and Limited Gaming Control Commission reported that state gaming revenue increased 2.5% in February.

Black Hawk increased 5.9%, Central City was up 1.1% while Cripple Creek fell 9.5%. Slot revenues fell at Black Hawk and Cripple Creek, down 0.8% and 2.5% respectively, and declined 13.8% at Central City. Table game revenues were mixed, up significantly at each of the properties, continuing to benefit from expanded table games.

As for slots, revenues fell 3.5%, with Black Hawk down 0.8%, Central City down 2.5% and Cripple Creek down 13.8%. All three towns have benefited from gambling expansion measures (higher maximum bets).

Harrah’s up the ante in Iowa

Harrah’s Entertainment sweetened the pot last week in its bid to persuade Iowa lawmakers to end live greyhound racing in Council Bluffs.

Harrah’s offered to pay the state $7 million a year for an "unlimited period of time" in order to halt the live meet at its Horseshoe Casino in Council Bluffs. The casino company had earlier proposed paying the state $7 million over seven years.

Harrah’s is bound by Iowa law to offer live greyhound racing, but it has tried to convince lawmakers that it is a dying sport. The company’s initial attempt to end live dog racing in Iowa failed when a bill was killed last month in a legislative committee.

Earlier, Mystique Greyhound Park & Casino in Dubuque offered to pay the state $3 million over seven years to halt racing. Mystique is not part of the current offer to extend the payments indefinitely.