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| Gamblers lose and casinos dropped |
10/20/2001 Admissions to Iowa's riverboats and racetrack by 9 percent over the past three months, and the remaining gamblers are losing more money. Iowa Racing and Gaming Commission reported Thursday that a total of 5.2 million customers were admitted to the 10 floating casinos and three racetracks with slot machines between July and September. More than the similar time in last year. On the other hand, casino revenues rose by 3.7 percent. About $8.6 million incensement of revenues totaled $240 million. The state records show that the revenues raised since the typical gambler in Iowa has lost an average of $46 per visit between July and September, compared with $40 a year ago. At Thursday Casino industry managers and state regulators said that the conflicting trends in admissions and revenues probably result from several factors: Job layoffs at some Iowa companies, Public worries that followed the Sept. 11 terrorist attacks, Procedural changes at casino doors to more accurately count gamblers, and Improved marketing efforts that draw the customers who spent more money playing slot machines. Administrator of the Iowa Racing and Gaming Commission Jack Ketterer, said he believes Iowa's casino industry was affected for several days by the terrorist events. But the crash was much less in Iowa than at casinos in Las Vegas and New Jersey, which attract tourists who often fly airplanes to reach their gambling destinations. However I won't be surprised if casino revenues will start slowing in the months ahead Ketterer said. Verne Welch, a consultant for Harrahs Entertainment Inc., which owns Harveys Casino-Hotel and Bluffs Run Greyhound Park and Casino in Council Bluffs, said he attributes increased casino revenues to a new generation of attractive slot machines that have been introduced to Iowa. Welch said customers have shifted to slot machines with themes from old television shows, such as "The Munsters," "The Price Is Right," and "The Addams Family.", because of that the Interest in casino table games has dropped off. The increase in revenue is "just a matter of the people there playing more," he said. Ron Morden, Prairie Meadows' chief financial officer, said the casino continues to provide a payback on slot machines of about 94 cents for every dollar wagered by gamblers. |
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