Lean and hungry in the Midwest

It’s difficult to find new things to say about Illinois, where the saga has become sadly familiar. Another month, another 11% decline. Even players’ darlings Rivers Casino (-4%) and Jumer’s Rock Island Casino (right, -14%) struggled. However, by some miracle, Penn National Gaming was able to manifest an 8% increase at long-suffering Argosy Alton. Except for Penn’s Empress Alton (-9.5%), all other casinos suffered double-digit declines, as the gnawing effect of slot routes shows its effect.

Even with its slight decline, Rivers Casino ($34 million) posted well over twice as much as MGM Resorts International‘s Grand Victoria ($14 million, -15.5%). Hollywood Aurora (-15.5%) and Harrah’s Joliet (-17%) were down in the dumps. In East St. Louis, Casino Queen celebrated its acquisition by GLPI (parent of Penn) with a 15% decline. Boyd Gaming has a very bad month at Par-A-Dice (-16%) and Harrah’s Metropolis continues to struggle, down 10%. Whenever you think Illinois’ casinos have finally struck bottom, they bust out another depressing month like this.

Wall Street analysts are divided over whether revenues in Indiana are better or worse than expected. Horseshoe Cincinnati continues its sack and pillage of Hollywood Casino Lawrenceburg (-25%), Rising Sun (-28.5%) and French Lick (-22%). However, the inauspicious opening of Belterra Park, in Ohio, seems to have driven patrons back to the elder sibling in Indiana, where revenues were up 2%. It’s a casino miracle!

Horseshoe Southern Indiana remained solid, up 2%, while Casino Aztar, in Evansville, may be feeling the effect of those Illinois slot routes. This formerly impervious casino suffered a 2% dip and is incrementally down for 1Q14. Hoosier Park lost business last month (-3%) but Indiana Downs was undaunted, up 9%.

In the upper tier, the two Majestic Star boats had a bipolar performance. Riverboat #1 was 8% off its former pace but #2 was in the dumps, down 25.5% and grossing only $5 million to its sibling’s $8 million. Grossing $35 million for top honors in the state, Horseshoe Hammond (above) was nevertheless 10% off last year’s pace. Ameristar East Chicago and Boyd’s Blue Chip each took a modest, 3% downturn.

For whatever inroads Ohio has made, Indiana remains the preferable market, grossing $180 million to Illinois’ lean and hungry $117 million.