Annual Report Analyzes 125+ Tribal Casinos; Lends Insight into Profitability, Management
BILLINGS, Montana (January 11, 2016) – As calendars turn to 2016, tribal operators of all sizes may stand to gain financial advantage when they better understand the factors that contribute to and detract from profitability. Enhancing that knowledge is the purpose of the “2015 Indian Gaming Cost of Doing Business Report,” compiled and produced by JOSEPH EVE CPAs.
The report is the 17th annual edition and is the most extensive yet, including data analysis from more than 125 casinos across five geographic regions, covering five different annual revenue segments. The 2015 Indian Gaming Cost of Doing Business Report is available for purchase now.
The report is also available for free to all casinos who participated in the survey, and participating casino information is confidential.
“Over the past 25 years of working very closely with tribal casinos and tribal enterprises, we have found that oftentimes, the day-to-day running of the operation eclipses important questions, such as ‘How profitable should we be?’, ‘How leveraged are we?’ and ‘How profitable can we be?’ The 2015 Indian Gaming Cost of Doing Business Report brings crucial management data to the forefront, enabling tribal operators to compare their data against other regions and segments, empowering better business decision-making,” said Glen Galt, JOSEPH EVE Senior Manager.
The report presents data from gaming revenue, non-gaming revenue, direct or departmental expenses, and indirect or operating expenses. Some of the statistical information included in the 49-page report are:
- Casinos with hotels had higher food and beverage revenue
- The California Region had the highest profitability margins
- Marketing was the second highest expense after Wages
- The Food and Beverage department had the highest wage expense
The report breaks down tribal gaming into five geographic regions, allowing for more direct comparison. Those regions are California, Midwest, Northwest, Oklahoma, and Southern.
“We have worked diligently to continually earn the trust of our tribal gaming clients, and this report is only possible because of our extensive work with tribes, and our team of highly experienced auditors and CPAs. We encourage every tribal operator, as well as those vendors who work with tribes, to purchase and thoroughly analyze the report today, to gain valuable business insights that are not available anywhere else,” said JOSEPH EVE Partner Grant Eve.