Seneca Nation of Indians’ three casinos post 1st loss
(January 04, 2010 4:48 PM) -
Industry Insider by Ray Poirier
Gambling woes during this economic crisis have not been limited to casinos operated by publicly-traded companies. Some Indian casinos have been hurt as well.
Case in point: the Seneca Nation of Indians’ three casinos in upstate New York.
Based in Niagara Falls, N.Y., the Seneca Gaming Corp. revealed last week that it had lost $19.37 million in fiscal year ending on Sept. 30, 2009. This compared to a profit of $102.6 million in the previous year.
This was the first loss reported by the tribal nation since it opened its first casino six years ago.