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Seneca Gaming profits rise

14 February 2007

NEW YORK – As reported by the Buffalo News: "Seneca Gaming Corp.'s new hotel and casino in Niagara Falls is giving a big boost to the company's profits.

"The tribal-owned casino operator's first-quarter profits jumped by 48 percent as the opening last spring of the company's 604-room hotel and casino in Niagara Falls spurred more activity at the new facility's gaming tables and slot machines.

"Seneca's revenues swelled by 29 percent, with almost all of the increase coming from the Niagara Falls complex, while ongoing construction at the company's Seneca Allegany Casino helped keep revenues relatively flat.

"…Seneca's profits jumped to $31.5 million during the quarter that ended in December, compared with $21.3 million a year earlier, when the new Niagara Falls hotel and casino was just opening.

"The company's revenues grew to $140.2 million from $108.9 million a year ago.

"Most of the increase came from a 28 percent increase in Seneca's gaming revenues, which rose to $141.3 million from $110 million because of the impact of the new Niagara Falls gambling complex…"

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