- Seminole Hard Rock Hotel & Casino took $579 million in 2016
- Florida matches national trend as tribal casinos outperform pari-mutuels
The Seminole Hard Rock group’s Florida casino portfolio garnered $2.3 billion in the 2015-16 period, reports the Miami Herald, marking a significant outperformance of their commercial competitors.
Pari-mutuel gaming brought the state’s corporate interests a $578 million revenue stream during the same period.
The income of one Florida property, the iconic Seminole Hard Rock Hotel & Casino, was $579 million – slightly more than the state’s eight commercial casinos made in combination.
Profitability increases for Seminole gambling premises
Florida is one of a number of states which places restrictions on commercial gambling, with slot games prohibited at west-central racetracks. Blackjack is also unavailable in most pari-mutuel premises.
The most successful Seminole property in the region is the Seminole Hard Rock Hotel & Tampa, which wrote down $967 million in profits last year.
All of the tribe’s Florida properties contributed a profit of $150 million or more, for a $2.3 billion total. These figures follow a national trend in which tribal gambling services are now outperforming commercial revenues, though the gap in Florida is significantly wider than the national average.
Construction underway at Hollywood Hard Rock casino
The Seminole Hard Rock Hotel & Casino Hollywood is currently surrounded by active construction works, as the group begins improvements that include a new hotel and casino on the adjacent site.
The hotel will be built in the shape of a guitar, initial reports have suggested, following the brand’s theme. The site previously housed the Seminole Paradise bar and shopping complex, but relatively low revenues have led the tribal committee to take a new direction instead.
Despite the development work taking place on the doorstep, footfall remains strong at the Hollywood casino – and the proof is in the profits.
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