Kansas Star Casino's 1Q Nets $50 Million

By: Wichita Business Journal
By: Wichita Business Journal

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Friday, May 4, 2012

The new Kansas Star Casino, Hotel and Event Center recorded $50.3 million in net revenue in its first full quarter of operation, according to an earnings release Thursday from its parent company.

Kansas Star’s net revenue included $50 million in gambling revenue. Food, beverage and other revenue totaled $2 million, less promotional allowances of $1.7 million, according to the release.

Peninsula reported total net revenues in the quarter of $134.8 million, 67.7 percent more than a year ago. Net income was $22.4 million, up from a loss of $100,000 in first quarter of 2011.

The Wichita Business Journal reports casino owners are optimistic about the future, as construction continues on the permanent casino and hotel.

“Construction development and strategic planning continue for the casino’s transition into its permanent building," said Brent Stevens, CEO of Dubuque, Iowa-based Peninsula Gaming LLC. Stevens said the new casino will house a larger gaming floor with more slots and table games, and additional food amenities. The 300-room hotel and entertainment complex are expected to be complete by January 2013.

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