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Penn National Gaming Inc. Message Board

  • dundarra dundarra May 7, 2004 3:28 PM Flag

    2nd quarter revenues

    Last week's CT number (just under $6.8MM) was surprisingly weak, especially since a big crowd was expected for Kentucky Derby. Actually, they got a big crowd, but I guess they weren't betting all that much on slots.

    Aurora number for April is out: $18.930MM. This compares with Jan, Feb, Mar. of $17.048, 18.996, 21.470. I think April number is pretty good, but its always hard to tell in Illinois. By the way, there is a casino phenomenon called "tax season". This occurs during Feb/Mar when people are getting tax refunds, and rushing to the casino to bet. Every year, numbers will be near a peak during this period, and this explains why CT has been off a bit lately vs. Feb/Mar.

    One more thing which has been little noted: CT is presently converting a few hundred machines to "ticket in/ticket out". They are roped off, and unavailable for play. This is sort of an experiment, to see how customers will take to the notion of playing slots without coins. If there is no drop off in play (I don't think there will be but many disagree), all CT slots will be converted. Now this could be important because it will reduce labor costs substantially, as a great deal of labor costs involve moving coins around the casino, counting coins, etc. Could be a pretty big deal for CT, increasing margins.

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    • Hello. I'm new to this board. Just purchased a modest amount of PENN a few weeks ago. Regarding the ticket in/ticket out... When my favorite casino in Laughlin, Nevada went "coinless" I was extremely disappointed; I liked to hear those quarters crashing. Having said that, though, I think most people make the transition just fine. I know my friends who go to casinos don't mind the ticket in/ticket out at all; most like it. Hope to learn much from you all.

 
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