Casinos Have So-So January
The St. Louis Post-Dispatch caught my attention with this article on the “so-so” January that our area casinos had. The article begns:
St. Louis-area casinos had a so-so January, recording typical mid-winter results that lacked any big rises or declines in revenue. The Casino Queen’s revenue increase of nearly 11 percent led the overall lackluster results among the area’s six gambling halls. Pinnacle Entertainment’s River City complex in Lemay notched the only other double-digit increase—10.3 percent–over January 2011.
The article points out that the Lumiere casino had a double-digit loss, but don’t be confused. The didn’t lose money. Their revenue was down compared to their revenue of January 2011. The seven area casinos, taken together, had a 3.2% revenue increase last January over January 2011. Revenue total was $89.1 million for the month of January.
You know how I am about this. I have a particular perspective on casinos. But I think the article shows that a lot of other people have a particular perspective on casinos too. In the midst of hearing all the weeping and wailing about how terrible our economy is, a monthly average INCREASE in revenue of 3.2% is called “lackluster”. Did your personal income increase 3.2% last month? Know any other industry whose revenue INCREASED 3.2% last month? If it did, would you call it “lackluster”, or would you call it wonderful?
We expect casinos to turn in big numbers, and when they don’t it’s called lackluster, or so-so. Do you see how calloused we’ve become? $89.1 million dollars in one month isn’t big numbers to us anymore, I guess.