Slot Barns: Declining Revenues

Atlantic City Casino Gambling Fell 12% in October


NEW YORK (TheStreet) - Casino stocks are in the red on downgrades and a weak recovery in the Las Vegas locals market.

Las Vegas Sands(LVS) is falling 4.3%...

But the recovery in the Las Vegas locals market remains non-existent, as gaming revenue slipped 0.3%...Boyd Gaming, which operates a large chunk of its casinos in the locals market, are tumbling 4%...
Slot machine maker International Game Technologies (IGT) is dropping 2.9%...after reporting fourth-quarter results that missed estimates and issued a disappointing outlook.


MTR Gaming Group Inc. is reporting a $1.5 million profit for the quarter ending Sept. 30, even though revenues fell at its flagship West Virginia property.

MTR owns and operates Mountaineer Casino, Racetrack & Resort in Chester, Presque Isle Downs & Casino in Erie, Pa., and Scioto Downs in Columbus, Ohio.


CHESTER, W.Va., Nov 08, 2010 (BUSINESS WIRE) -- MTR Gaming Group, Inc.

Net revenues at Mountaineer Casino, Racetrack & Resort decreased 13%...

Current period costs included severance charges of $1.3 million, while the prior-year period included costs of $3.7 million associated with lobbying and gaming efforts in Ohio.

For the nine months ended September 30, 2010, MTR's total net revenues decreased 6%...

The loss from continuing operations for the nine months ended September 30, 2010 included incremental interest expense of $9.4 million,... incurred as a result of the issuance of the Company's $260 million senior notes in the third quarter of 2009. The income from continuing operations for the nine months ended September 30, 2009 included a pre-tax loss of $2.8 million,... associated with the refinancing of debt. The net loss for the nine months ended September 30, 2010 was $2.3 million, or $0.08 per diluted share, compared to net income of $1.7 million ... for the same period of 2009. Prior-year results included income of $1.4 million... from discontinued operations.

Full House Resorts reports profit down from last year

Full House is a partner in a casino called FireKeepers in Michigan, the Stockman's casino in Fallon and at the Harrington Raceway in Delaware.

During the third quarter, Full House acquired the Grand Victoria Casino and Resort in Rising Sun, Ind., for about $43 million. The deal was expected to close during the first quarter of 2011.


SugarHouse Slot Barn Revenue: downward trend