Gallegos & Hennigan, Riverside Revenues October '06

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For October, the casino earned about $6.4 million in adjusted gross revenue -- a 13.6 percent decrease from the $7.4 million brought in a month earlier.

Casino chief executive officer Dan Kehl said Monday the decline was "pretty natural."

"October's numbers were just about what we projected," he said. "We're comfortable with where we're at."

It was a larger decline than competitors about an hour away on the Mississippi River.

The Isle of Capri in Bettendorf had revenues of $7.49 million in September but $7.25 million in October, while Rhythm City Casino in Davenport had $5.98 million in September and $5.51 million in October. Just up the river, in Clinton, the Mississippi Belle II had revenues of $2.45 million in September but $2.27 million in October.

Figures from state regulators also show that crowds at the Riverside Casino were smaller in October compared with September. The casino, which opened Aug. 31, had 98,280 guests in October -- a drop of nearly 20 percent from 122,655 guests in September.

Kehl said the casino is starting to roll out a handful of new programs this month. Monday was the first Senior Day, in which patrons older than 50 who are Players Club members earn $20 in free play and are eligible for $50 drawings throughout the day, he said.

"We're packed," he said. "We're continuing to get new customers every day," with about 40,000 people already included in the Players Club database.

Since the casino officials made their revenue and attendance projections about 2½ years ago, Kehl said he is happy with the results thus far.

The golf course, a feature Kehl said he hopes will draw more people to the resort, is expected to open in July or August of next year.

He said the casino also has increased its entertainment budget, and with holiday parties already booked, many weekends at the Event Center already are filled into next year.

Although football crowds have added to the attendance numbers, "we'll backfill those weekends with other events," he said.

Casino to fund K-9 unit

Riverside Casino & Golf Resort officials will present a $20,000 donation today to Washington County officials for the county's public safety department to develop a K-9 unit.

Washington County sheriff Jerry Dunbar said the idea for the county K-9 unit came from casino officials, who asked if the county public safety department had a dog.

The public safety department hopes to have the K-9 program in place by May or June of next year, Dunbar said. Casino chief executive officer Dan Kehl and board member Ed Brown will present the check at 9 a.m. at the Washington County Courthouse, Board of Supervisors office, 222 W. Main St. in Washington.

[Note: This material is copyright by The Gazette, and is reproduced here as a matter of "fair use" for non-commercial, educational purposes only. Any other use may require the prior approval of The Gazette.]

Riverside Casino & Golf Resort earned $6.4 million in adjusted gross gaming revenue in October, compared with $7.4 million in September, according to figures released Monday by the Iowa Racing and Gaming Commission.

Its October attendance was 98,280, down from 122,655 in September, according to the state commission.

Riverside casino Chief Executive Officer Dan Kehl said he expected the numbers to go down after the first month as the ‘‘newness’’ wore off.

‘‘ We’re tracking about where we thought we’d be,’’ he said. ‘‘It may have been a little bit lighter (in October). There were a couple of days . . . that knocked us a little bit off of our projections, but nothing we’re concerned about.’’

Before it opened, casino officials projected $83 million in gaming revenue and 1.6 million visitors in the casino’s first year. That’s an average $ 6.9 million and 133,333 visitors per month.

It met the gaming revenue exactly in September and October but averaged just 110,468 visitors.

Statewide, gaming revenue decreased by 5.4 percent in October compared with September for the 16 casinos that report to the Iowa Racing and Gaming Commission. Attendance dropped by 5.7 percent. Meanwhile, two Quad Cities casinos that took hits after the Riverside casino opened saw more modest declines between September and October than in Riverside.

Gaming revenue at Rhythm City Casino in Davenport and Isle of Capri- Bettendorf dropped 7.9 percent and 3.2 percent, respectively.

Edward Raber, executive director of the Washington Economic Development Group, said the Riverside casino’s large revenue and attendance declines probably were caused by the high September numbers related to its opening.

‘‘If last month was a regular month, I think you’d probably see the same decrease (in Riverside) that everybody else had,’’ he said.

Raber also is a member of the board of directors of the Washington County Riverboat Foundation, which receives a percentage of casino revenue to be awarded to county nonprofit organizations.

Raber said he’s not worried about the casino failing to meet the $3.2 million it projected it would provide the foundation.

Kehl said the casino is adding about 2,000 names a week to a database that already has the names of 40,000 casino patrons who receive marketing materials, promotions and casino updates.

He also said the opening of the casino’s 18- hole golf course next summer should boost attendance.

Also on Monday, the casino announced that it would donate $20,000 to the Washington County Public Safety Center to help establish a K9 unit in the county.