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Saturday, August 21, 2004

July gambling haul a record


3 Indiana riverboat casinos have best gross ever

By Ken Alltucker
Enquirer staff writer

Southeastern Indiana's riverboat casinos combined to collect nearly $70 million in July, the region's best-grossing month ever.

The Argosy Casino & Hotel in Lawrenceburg, Grand Victoria Casino in Rising Sun and Belterra Casino Resort in Florence last month collected a combined $69.3 million in gaming win (actual gamblers' losses), a 16.3 percent jump from July 2003.

Casino general managers said an extra weekend of gambling this July helped generate the region's strongest month as measured by win.

"You get two extra weekend days - that's beneficial," said Argosy general manager Larry Kinser. "It was a strong July in most states in the (Midwest)."

Argosy recorded its highest-grossing month ever with $41.3 million in gaming win, a 15.5 percent jump from a year ago. Belterra collected $14.2 million, up 22.3 percent from last year. Grand Victoria took in $13.7 million, a 13.1 percent jump from a year ago.

All three casinos have benefited from Indiana's eased restrictions, including 24-hour gambling that began in July 2003.

The relaxed rules have allowed casinos to collect more money, but they have also generated more tax collections for Indiana. In July, Indiana collected more than $42 million in admission and wagering taxes from the state's 10 riverboats. Argosy's tax bill of $8.1 million surpassed any riverboat casino. Belterra paid out $2.7 million in taxes and Grand Victoria paid $2.6 million.

Argosy shared some of the wealth with its employees through its "Eye Hi & Goodbye" program that awards employees for customer courtesy. The casino awarded more than a half-million dollars in cash bonuses so far this year.

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E-mail kalltucker@enquirer.com




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