In an effort to evaluate performance and as a follow up to our YouTube, we compare how the quarter measured up to previous management commentary and guidance
OVERALL
- WORSE: EBITDA missed due primarily to Lake Charles and Waterloo. Stock is up showing the "soft bigotry of low expectations"
CAPE GIRARDEAU
- SAME: expects the $135 million facility to open by November 1, two months ahead of the initial schedule.
ROOM RENOVATION
- SAME: $15 million refurbishment of the main hotel tower in Lake Charles will be done by end of 2012. In Black Hawk, $2 million of carpet, wall coverings, furniture and fixtures is expected to be complete by December 1, 2012.
- PREVIOUSLY: "We're currently renovating rooms in Lake Charles and Black Hawk, and adding a new Lone Wolf Bar in Waterloo "
LADY LUCK REBRAND AT VICKSBURG
- SAME: $5 million Lady Luck Casino rebranding will be done by the end of F2Q 2013
- PREVIOUSLY: "Our Lady Luck rebrand at Vicksburg will be completed about the same time as the expected opening at Cape Girardeau, with upgrades that will enhance the customer experience, including a Lone Wolf bar and Otis and Henry's casual dining restaurant."
VICKSBURG PERFORMANCE
- WORSE: Heavy construction impacted F1Q results. Performance should improve as construction subsides later in 2012
- PREVIOUSLY: "Vicksburg, we think we've turned the corner. We have made some improvements to the staff."
KANSAS CITY PROMOTIONAL ACTIVITY
- SLIGHTLY WORSE: Kansas City properties continue to face increased competitive pressures from the new competition
- PREVIOUSLY: [Kansas City Speedway opening promotional activity] "It hasn't got completely out of hand, but we don't necessarily expect anything long-term, but we have seen an uptick there.”