Harrah's Saw Big Revenue Dip in Final Month of Operation
Harrah's, which officially turned into Hollywood Casino on Nov. 2, saw a 10 percent drop in revenue in October when compared to October 2011.
Harrah's Casino, in its final month of operation in Maryland Heights, posted the largest year-over-year revenue drop off among the St. Louis-area casinos in October.
According to the St. Louis Business Journal, Harrah’s saw a 10 percent dip in revenue, to $19.6 million compared with October 2011.
Overall, revenue at the six St. Louis-area casinos totaled $86.3 million in October, down 3 percent from the same month last year, the report. said.
That deal closed Nov. 2, which turned the Maryland Heights casino into Hollywood Casino.
Penn National is pumping $61 million into the rebranding over the next six to nine months, which will include new slot machines and themes, and a new Boogie Nights nightclub in the previous Voodoo Lounge space.
Carlucci also expects upgrades in the casino's hotel rooms and restaurants.
"Right now, the restaurants will stay the same," he said. "But we'll look and find out from customers. Obviously, Charlie Gitto's is very popular and we hope to continue that relationship. But we will lok at the other relationships (with restaurants) and see how we can improve on them."
The new nightclub, Boogie Nights, won't be open for several months, Carlucci said. But the concept will be a cross over all generations, with the club playing mostly 70s and 80s music.
"It's not just a young person's nightclub. It will be young to old," Carlucci said.
Now, Penn National operates the Boogie Nights nighclub concept at its Atlantic City, NJ; Lawrenceburg, IN; and Baton Rouge, LA, locations.
Carlucci said the casino has already begun mailing current Harrah's rewards members about key player changes.
Among some of the key changes include:
- Players existing tier status under former program is matched by Marquee Rewards
- All existing and available comp points earned at Harrah’s St. Louis added to Marquee Rewards card on Nov. 2
- Downloadable Free SlotPlay offered for the first time. Players simply insert card and monthly offers can be used that day on any machine.
- ATM fees reduced from $5.99 to $4.50
- Harrah’s St. Louis casino chips can be redeemed at Cashier’s Cage through Jan. 31,2013
- All Harrah’s Fast Cash Tickets must be used by Nov. 2, 2012