Hot on the heels of February’s record win for casinos in Nevada, March has seen revenues at riverboat casinos in Indiana attain new heights after the previous month’s record. The 11 casinos in Missouri also brought in an all-time high figure. Traditionally March is a good month for casino operators, as the advent of spring brings people out and about, and IRS refund cheques arrive.

As gambling becomes more socially acceptable and part of a wider entertainment industry, players themselves become more discerning and seek out the best operations. Casino expansion and upgrades are vital for attracting people through the doors. This is evident in Missouri where the only casino that saw a revenue decline in March was the Isle of Capri operation where work on an upgrade is not due to commence until next month. It seems that players are looking for more than run of the mill gaming tables and slot machines, they want some glitz and glamour and the latest products the industry has to offer.

Record wins for casinos are good for operators but are not the complete picture. Rising costs for construction, land and promotional expenses are just some of the things that can eat into operating profit. In Atlantic City’s 12 casinos half reported increased gross operating profits for 2005 but the other half saw a decline. The US casino industry may continue to consolidate but gambling in general continues to expand both at home and abroad, encouraging US operators to look beyond home territory to places such as Macau, Singapore, Chile, Spain, Slovenia and the UK. Consumer demand is growing; many states are increasing gambling options, and gaming operators are betting on good times ahead. (E-04.12.06)

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