Ameristar Casinos Have Sharp Second Quarter Revenue Decline

It is true that many casino companies believe that the economy is starting to turn around and that their profits will once again start to rise soon. Ameristar casinos, however, is the latest casino company to show that the economy is not there yet.

Ameristar released their second quarter figures this week and revenue fell sixteen percent from the previous year. There were many contributing factors outside of casino gambling that played a part in the revenue decrease.

Ameristar has reported that profits were down seventeen cents a share in the second quarter. Last year, the company had profits of $17 million in the second quarter, compared to $14.3 million this year.

"It is the same thing we have been seeing across the board," said observer Jack Little, "casino companies have had a terrible second quarter, and they are hoping that all of the new attempts to kick start the economy by the president will turn things around for the industry."

The casino industry has been among the worst hit in the current recession. People do not have expendable income, and the extra money that they do have is going towards more economical forms of entertainment. The casinos around the US have been trying every marketing tool they have at their disposal, and nothing has seemed to work.

For Ameristar, it was the extras that people spend on when they go to casinos that made the difference. The company announced that there was a major fall off in liquor and food sales at their casinos. Even when people are going out to gamble, they are doing their eating at home before they go.

August 6, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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