Local, national casino revenue remains steady

The American Gaming Association released a survey of casinos around the nation. The survey revealed that the nation?s 483 casinos reported earnings of $34.6 billion in 2010, one percent higher than the prior year. In Iowa, revenue went down 0.7 percent from $1.38 billion in 2009 to $1.37 in 2010.

The Riverside Casino and Golf Resort?s revenues have been fairly constant over the past four years. The casino?s general manager, Dan Franz, said the casino?s revenue has hovered at just over $100 million a year since its opening in 2006.

In 2007, the casino reported gross total revenues of $101.6 million. That number increased by a few percentage points to $103.9 in 2008, the casino?s best year. The number declined slightly to $103.3 in 2009 and then to $103.2 in 2010.

?It was a tough year in 2009,? said Franz. ?I will say that 2010 ended very well. We were very encouraged by the business levels at that time. Going into 2010, we were very cautious because we were coming off a very difficult 2009. That affected our first quarter in 2010 and maybe even into the early summer of 2010. By mid- to late- summer, things had turned around. We finished the year very nicely.?

Franz said that upward trend has continued into the first few months of 2011.

?We don?t have the numbers yet, but we can see that positive trend continuing,? said Franz. ?We can?t predict the future, but we?re optimistic we can exceed last year?s numbers.?

The amount of money the casino makes through its gaming revenues directly affects how much money it pays out to the Riverboat Foundation. In 2010, the casino gave $3.2 million to the Riverboat Foundation. Since the casino opened, it has given $13.8 to the Riverboat Foundation.

The casino employs fewer people today than it did when it began. In December 2010, the casino employed 659 people. The year before that it was 689, and the year before that it was 727. Franz attributed the decline to the improved efficiency of casino workers.

?In 2007, we were sitting down with a bunch of new people who were learning their jobs,? he said. ?We weren?t sure how we would have to staff certain areas to be able to serve our customers right. Now our employees can do the jobs faster and better, so there?s not the need for as many people.?

Franz said employment spikes in the summer when the casino employs many seasonal workers. In the summer of 2009, the casino employed 767. Franz said employment will probably fluctuate between 700 and 750.