Never hear much about this,might be because of poor numbers.Watch this one closely ,it's a sleeper.The company has,as far as I know most of it's casinos spread out along the miss. from St. Louis down to New Orleans where there is much more competition for them.They have for some time been showing a loss as a result,but for approx. two years
they have had a new boat in Lawrenceburg,In.(Currently largest riverboat casino in the world) 10 miles south of Cincy.
Cincinnati has voted down issues to allow casinos creating a virtual monopoly in the area.There is at present only one other casino within
100 miles and since Argosy has opened,the other competitors' revenue has gone down from Approx. 15+ million to single digit,while theirs has gone from single to 20+ million.Easily carrying the entire co.
Watch the earnings in the future.Either they soon will start to show positive earnings growth or could possibly be approached.Also,No. Ky.
which is only 15 minutes away is currently the fasting growing area of the entire state,contains Greater Cincinnati/No. Ky. airport and Turfway Park (Jim Beam Stakes).If that's not enough,within 45 minutes of casino there is land being purchased for new NASCAR race track!!!!
om St.L down to New Orleans |
