Seneca casinos saw a drop in its revenues

Seneca Gaming Corp., the casino gambling arm of the Seneca Nation of Indians, operates casinos in Salamanca, Niagara Falls and the Seneca Buffalo Creek Casino in downtown Buffalo. “I believe SGC continues to demonstrate its ability to navigate uncertain economic times and mitigate the effects of the economic recession the entire country is currently experiencing,” said Brian Hansberry, Seneca Gaming president and CEO.

Seneca Gaming reported gambling revenues of us$ 137.02 million in the first quarter, down from the us$ 150.08 million reported in the same period last year. Seneca Gaming’s first quarter ended on December 31, 2008.

Non-gambling revenues, derived from dollars spent at one of Seneca Gaming’s hotels or entertainment complexes, dropped from us$ 28.79 million in 2008’s first quarter to us$ 26.94 million this year. Non-gambling revenues were impacted by the hotels in Salamanca and Niagara Falls getting an average daily room rate of us$ 92 in the recently-ended first quarter compared with a us$ 109 rate for the same period in the 2008 first quarter. Revenue per room fell from us$ 98 to us$ 86 in the quarter.

In response to the faltering economy, Seneca Gaming suspended construction of the us$ 333 million permanent Seneca Buffalo Creek Casino and Hotel and the expansion of Seneca Allegany Casino and Hotel. Seneca officials said work on both will begin once the economy begins to recover. Seneca Gaming, in early December, laid off 210 workers.

“Although the ongoing recession will continue to present challenges, we believe our operating results positively reflect our efforts and ability to adapt to turbulent economic conditions,” noted Barry Snyder Sr. Seneca Gaming chairman and Seneca Nation of Indians president.