Hard Rock Hotel & Casino Sioux City posted its financial report for November, 2014. According to it, the turnover of the Iowa-based venue fell to $5.8 million. This has been the lowest reported monthly revenue since it opened doors back in August.
During the first month of its operation, the casino and hotel venue generated a total gross revenue of $7.2 million. The next two months, the Hard Rock earned almost $6 million.
Mark Monson, currently being the president of Missouri River Historical Development (MRHD) – a local non-profit organization that holds Hard Rock’s license, stated that there was no room for concern, despite the obvious fall in turnover. He added he actually expects a drop will be marked in December, as well. He explained this as a result from the fact that the beginning of the winter has always affected the industry in a negative way.
Mr. Monson also said that Hard Rock has managed to meet all expectations. He also commented on the venue as offering exciting gaming and entertainment options, as well as “fantastic” food.
Monthly, MRHD is given 4.25% of the entire turnover the casino generates. The money is used to fund local charities and other undertakings that are supposed to benefit the city and its residents.
Yesterday, December 4, Hard Rock announced that it had paid a total of $1 million to MRHD for the several months of its operation.
Todd Moyer, general manager of Hard Rock, stated that he was extremely happy that they had reached their goal so quickly. He also expressed his gratitude towards MRHD. Mr. Moyer pointed to the fact that Hard Rock really wants to contribute to the community’s well-being.
According to the report, posted by the Iowa Racing and Gaming Commission, 134,252 visitors entered the casino premises in November. And players betted the average sum of $43.
Despite the fact that a decrease in revenue was marked, Hard Rock still performed much better than the casino venue it had replaced. Back in November, 2013, the so-called Argosy Sioux City riverboat generated turnover totaling $4.1 million. And as it was reported by IRGC, the facility had collected between $4.5 million and $4.7 million in the previous four Novembers.
As it was mentioned above, the Hard Rock Hotel & Casino Sioux City, opened doors for visitors and guests on August 1. Its casino venue features a total of 839 slot machines and 25 tables. In addition, its hotel has 54 rooms. Hard Rock can also boast of several bars and restaurants, a shopping area, two concert halls, etc.
SCE Partners Inc., Hard Rock’s developer, stated that it expected the amount of $90.5 million to be generated by the end of this fiscal year. In order to be able to achieve this, the venue needs to collect approximately $7.5 million per month.
