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    Greyhound Racing TRACK $2 MILLION AHEAD OF BUDGET
    Posted byadmin on Wednesday, November 26 @ 01:30:57 EST
    Contributed by admin

    October revenue is up 12%
    In a gaming market that has been dismal across the nation, Dubuque Greyhound Park & Casino General Manager Jesús Aviles is delighted that the racetrack casino is poised to finish the year $2 million ahead of its budget.




    At a Dubuque Racing Association meeting Monday, Aviles admitted that the budget was a conservative one, but he said the year-end numbers are still significant.

    "All in all, we're going to finish our year very, very strong," he said.

    The DRA is the non-profit license holder for the racetrack casino.

    Although the year started slowly, Aviles said the Greyhound Park & Casino has been able to recover since June. October revenue was up 12 percent even though visitor attendance remained flat.

    The racetrack casino posted gross revenue of $6.7 million and close to 136,000 admissions in October, according to the Iowa Racing and Gaming Commission, up from $6.29 million and more than 134,000 admissions in September. And budget expenses were reduced by nearly 17 percent, Aviles said.

    But Aviles warned that similar gains might not be seen again next year, even if the same number of customers appears to be spending more at the facility.

    Casino revenue was down nationwide in the third quarter by 4.6 percent compared with the same period a year ago, bringing in $8.4 billion,

    according to the American Gaming Association.

    Along with continued market pressure, the grand opening of the Diamond Jo's new casino is now just days away. The $84 million land-based casino and entertainment complex is slated for opening on Dec. 11.

    Meanwhile, the Greyhound Park & Casino is moving forward with a $10 million plan to revamp the operation. Brian Southwood, assistant general manager of facilities, said work is about a week ahead of schedule, and plans for the third phase of the project came out Monday.

    In other business, the DRA board unanimously approved annual bonuses for racetrack casino team members.



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