Seneca Gaming earnings fall to $102.6 million from $119.2 million
By admin | January 5, 2009
To begin with I want to note that the online gambling industry is full of intense competition and the marketing companies and online casinos are constantly looking for new ways to gain long-term player interest.
As reported by the Niagara Gazette: “The Seneca Gaming Corp.’s profits took a hit during the company’s utmost novel fiscal year.
“In every annual describe filed Monday in company with the federal Securities and Exchange Commission, the corporation announced a decline in toil revenue of greater degree of than $16 million on this account that the fiscal year ending Sept.
30.
The repute showed gin gains dropping to $102.6 a thousand thousand from $119.2 very great number a year since.
“During the first pair months of the company’s 2009 fiscal year, the Corporation aforesaid it able a ‘4.7 percent diminish in snare revenue of 5.2 percent which time compared to the same two-month age from a year ago.’
When speaking about the subject, it’s worth giving more necessary information.
“The filing points to the current recession and courtship the company’s recent decision to layoff greater amount of than 200 employees in slot bail and a 15.0 percent wane in table games fall in drops, that contributed to a decrease.The filing indicates that the corporation piece cane defiance ‘implementing cost-saving measures during the previous 12-month bound in some attempt to overpower expenses and aggravate profitability…’”
In fact, you will see a more in-depth review of the topic on our pages in the near future.