Tuesday, January 05, 2010

Not Greener Over the River

Someone thought I may have not been fair to the Rivers Casino in that I have been pretty consistent in pointing out when their revenues have declined, but failed to mention it last week when their revenues showed some rebound.  Fair enough, I think I just missed it with the unemployment news displacing my attention last week.  In fact this week's data is out and it was a second weekly increase down there. In fact it was one of their biggest weeks since opening despite the weather New Years & Slots.. Perfect together?  We will see what this week brings. 

But it was also pointed out to me that I may have been a bit unfair in always talking about Rivers and not about the trends elsewhere and in particular at the nearby Meadows Casino.  Ok..  Below is the long term trend in the same metric (average daily gross terminal revenue) for the Rivers Casino, the Meadows Casino and the statewide average among all casninos for good measure. It really may be the case that the trends out at the Meadows are a lot more problematic than at Rivers.  If I have been ignoring that it is not just that it is farther away, but I don't think the Meadows is supporting as much other local stuff such as the payments to the SEA for the arena bonds and other commitments.  Those commitments are not only real costs to the folks running Rivers, but at the end of the day if they are unsustainable there will be repurcussions all around.

This graphs the monthly averages, so it looks different from the weekly averages I have been showing.  The monthly numbers are obviously a bit less spiky.


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