Pittsburgh’s new Kansas Crossing Casino, which opened in late March this year, reported revenue falling short of its monthly high of $3 million, but there was optimism in officials’ opinions on the matter.
Revenue is declining at the Kansas Crossing Casino in Pittsburgh, but officials still believe the glass is half full. Before the casino opened in late March, financial experts assessed that the casino could earn as much as $3 million a month.
The reality seems to be a little different because the casino has only opened a few months ago, falling short of the expected amount. In its financial report, Kansas Crossing reported that the casino’s earnings were fluctuating between $2 million and $2.4 million per month during its four months of operation. The figures show that the casino has not had an expected success since its opening.
The decline in profits has reduced the number of casino employees by about 10 out of a total of 400. Also on Thursday, General Manager Doug Fisher officially announced that the casino would also shorten the hours of table games from 10 a.m. to 2 a.m. He added that the main reason the casinos run hours apart is to meet the needs of the players.
Keith Coacher, head of game facilities at the Kansas Lottery, explained that this is not a disturbing fact because it is not just Kansas Crossing, which is reducing operating hours. Cotcher pointed out that most regular players are on holiday, so it’s normal for casino revenues to drop sharply during the summer. The official also added that the tax revenue coming into the state coffers will not affect the budget in any way, as the reduction in registered income is relatively stable. It’s interesting that casinos pay 22% of their income to the state.
Daron Hall, Pittsburgh City manager, said the extra revenue generated from casino operations is a saving for rainy days and the budget is not dependent on money.
Kansas Crossing also has a ray of hope as regular players are expected to return from vacation and continue gambling as autumn approaches. The casino should mention that it has reduced the number of employees as well as the operating hours of the table game with the aim of reducing costs, but the lack of profits is not so dramatic and has little impact on the casino itself.