The new Kansas Crossing casino in Pittsburg, which managed to win over two other bids for a casino in Southeast Kansas and opened at the end of March this year, reported that its revenues cannot reach the projected monthly peak of $3 million, but the officials’ comments on the matter were permeated with optimism.
Revenues slide at Kansas Crossing casino in Pittsburg, but the officials still think that the glass is half full. Prior to the opening of the casino in the very late of March, financial specialists evaluated that the casino has the potential to reap as much as $3 million per month.
The reality seems to be a bit different as only a few months after the opening of the casino, it could not reach the projected amount. In a financial report, Kansas Crossing reported that for the 4 months of operation, the casino’s income is fluctuating between $2 million and $2.4 million per month. The numbers show that the casino did not achieve the projected success since its opening.
The revenue decline resulted in shrinking the casino staff with 10 people out of around 400 in total. Moreover, on Thursday, General Manager Doug Fisher officially announced that the casino is cutting also the operating hours of the table games, starting from 10 am until 2 am. He added that the main reason for the casino to chip away at hours is to meet the needs of players.
Keith Kocher, the director of gaming facilities with the Kansas Lottery explained that this is not a disturbing fact, as Kansas Crossing is not the only one, which is cutting the operational hours. Kocher pointed out that it is normal that the casino revenues plummet during the summer as most of their regular players are on holidays. The official also added that the tax revenues, which enters the state’s coffers are insignificant and the registered revenue decline will not affect the budget in any way, as it is relatively stable. It is interesting to note that the casino pays 22% of its income to the state’s government.
Daron Hall, Pittsburg City Manager commented that the additional revenues generated by the casino operations are savings for rainy days and the budget does not rely on the money.
There is also a silver lining in the cloud for Kansas Crossing, as with the coming of the fall, the regular players are expected to come back from their vacations and continue with their gambling pastime. The casino cut the number of its employees as well as the operating hours of the table games, aiming to shrink its expenses, but it should be mentioned that the revenue shortage is not that dramatic and has little, if no, impact on the casino itself.