Profits Keep Falling at Mountaineer Casino Amid Competition
Profits at Mountaineer Casino, Racetrack & Resort have plummeted to less than half their 2014 levels.
Reno, Nevada-based Eldorado Resorts Inc., which owns the New Cumberland casino, announced their quarterly earnings Thursday.
The company says Mountaineer's adjusted earnings from July 1 through Sept. 30 were $4 million. Adjusted earnings for the same quarter in 2015 were $6.4 million last year and $9.1 million in 2014.
The Intelligencer and Wheeling News-Register reports West Virginia casinos have watched profits slide as new facilities opened in Pennsylvania and Ohio over the past decade, especially the Rivers Casino in downtown Pittsburgh and The Meadows Racetrack and Casino near Washington, Pennsylvania.
Company officials said the county's July 2015 indoor smoking ban has also hurt business.
Mountaineer remains Hancock County's largest employer.