Alicia Ebaugh, The News Dispatch Staff Writer
MICHIGAN CITY - Blue Chip Casino has managed to increase profits for the third quarter of 2009 despite stiff competition from new competitor Four Winds Casino Resort in New Buffalo, Mich., Boyd Gaming officials said Tuesday.
Adjusted earnings before interest, taxes, depreciation and amortization went up for the third quarter of 2009 more than 6 percent over last year in Boyd's Midwest and South region, said Paul Chakmak, Boyd executive vice president and chief operating officer. Most of that gain was driven by Blue Chip, where profits grew about 20 percent each month of this quarter over last year, he said.
"We think it performed exceptionally well, even in the face of a new Native American casino in Michigan," Chakmak said. "It has to do with the hard work by our broader team in making Blue Chip more efficient, even in light of the fact that it is now a much larger facility. We've made aggressive efforts to hold down costs since our expansion in January."
Information from the Indiana Gaming Commission also indicates the number of visitors to Blue Chip is rebounding. As of the end of September, the casino reported 648,378 admissions in 2009, about 11 percent more than at that time last year.
"The summer is the peak season for Blue Chip. We're very happy with the numbers we're posting," Chakmak said. "We expect to maintain these levels, albeit we'll see reduced revenues there as we get into the colder months."
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