New Indiana Casino Does well In First Month Of Business

Indiana is one of the many states where casino gambling has become one of the most popular entertainment forms. The new Hollywood Casino in Lawrenceburg is proof of that after revealing their revenue figures from their first full month.

The casino outdid its former self by twenty percent from the same period last year. According to Indiana Gaming Commission figures, which were released today, the casino had $44.5 million in revenue in July.

That figure compares favorably to some of the other casinos around the country. Although the numbers were intriguing, there is still caution that because the casino is new, it is receiving more customers than it normally would.

"What we are seeing in Lawrenceburg right now is a lot of new visitation," said President and COO of Penn National, Timothy Wilmott, "We are seeing continued visitation and, in some cases, some early increased visitation from our existing rated base, but a lot of growth is coming from the unrated segments."

Penn National is one of the casino companies that has been hurt on the stock market because of the economy. Investors have backed off of casino gaming stocks, but Penn National has pushed forward with expansion nonetheless.

By closing the old casino and opening the new one, there were some financial adjustments that had to be made by Penn National. The company, while operating the casino in Indiana, has also put in a bid for a casino in Kansas.

August 11, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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