LoveMyLotto can report that gross gambling revenue of $4.4 million was achieved in the first 3 weeks of business
The Grand Falls Casino Resort which opened on the 9th June in South Dekotoa in Larchwood, northwest Iowa has so far been a hit and as stateside gabling is slowly rebounding from the recession, The Grand Falls Casino Resort saw 173,831 admissions during its first 3 weeks with gambling revenue up 1.1% compared to last year.
“Things seem to be going in the right direction, but it has been slow, which I think is indicative of the entire economy,” said Jack Ketterer, the commission’s administrator, and he confirmed that Casino admissions were down 1.8 percent the past 12 months, while the average customer lost about $63.
The Grand Falls operation which, is just 6 miles from Sioux Falls, cost around $120 million to build. At their grand opening around 1,200 guests were invited to a private reception, which was followed by hordes of people pouring in once the doors were open to the public.
“It was fun and crazy and there were lots of people. It was interesting to just stand by the door and watch the reaction of people when they saw the facility,” said Dan Kehl, chief executive officer of Kehl Management, which operates the investor-owned casino
Things have calmed down since that launch and now the work in hand is to build a constant base of customers. What is evident is that 80 % of the casino guests are from out-of-state areas like S Dakota, Minnesota, and the Sioux Falls area. However there is now a much bigger trend for 30 something weekends, who stay late to enjoy themselves.
This casino complex was approved last year and is on track to generate between $70 and $80 million in casino revenue per year, so the early forecast is looking good. “It’s a very nice facility, and it seems to be well received so far,” Ketterer said.
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