A 6.4 percent drop in Northwest Indiana casino revenues in April was the smallest year-over-year drop so far this year, giving casinos some hope for a turnaround as the year goes on.
The five Northwest Indiana boats took in a total of $85.4 million in April, as compared to $91.3 million in April 2013, according to the Indiana Gaming Commission's monthly revenue report.
Nothing jumped out in the figures provided by the Indiana Gaming Commission, with revenue and attendance for casinos in line with what would be expected, said Ed Feigenbaum, editor of Indiana Gaming Insight.
The smaller declines the last two months are probably directly attributable to the big hit casinos took from the severe weather in January and February, which kept gamblers away, Feigenbaum said.
"But in terms of the long-term trend, who knows?" he added.
Ameristar Casino, in East Chicago, managed to keep revenues essentially even with last year's. The boat raked in $19.4 million, with 201,551 gamblers passing through its turnstiles.
The casino recently added 13 new gaming tables and has introduced a new loyalty rewards program which gives patrons access to 14 Pinnacle Entertainment properties and other premiums, according to Matt Schuffert, Ameristar vice president and general manager.
April revenues at Hammond's Horseshoe Casino, a barometer for the entire Chicago market because of its size and location, dropped 6.6 percent. Its revenues have been down on a par with the overall market in the first four months of this year, but April's fall was its smallest.
Horseshoe Vice President for Marketing Jennifer Galle said April's revenues were probably more indicative of what the year would have looked like so far without the serial blizzards and sub-zero temperatures of January and February.
Horseshoe is mounting aggressive promotions to dig out from winter, including the Chicago Poker Classic that is underway now and runs through May 12.
The largest drop in April revenues was at Majestic Star II, where the total take declined 17.5 percent in April as compared to the year-ago month. Revenues at the two Majestic Star boats combined dropped 10.5 percent.
The year opened in January with a 17 percent year-over-year drop in overall revenues at the five Northwest Indiana boats, which operators attributed mainly to the severe weather and road closures that continued into February. Since then, the fall in revenues has slowed, with the overall casino take down 8.9 percent in March.