In case you missed it, the Seneca Gaming Corporation filed their 10K with the SEC on December 29th. In their filing, the Senecas revealed they generated $32,747,000 in ‘net revenue’ at the Buffalo Creek Casino for the 12 months ended Sept. 30, 2008. Now, the Senecas deduct the cost of ‘promotional allowances’ (complementary food, beverages, etc) from gross revenue to arrive at ‘net revenue,’ so the Buffalo Creek Casino actually generated more revenue than the $32.7 referenced above. But let’s just call their revenues $32.7M for the sake of today’s shocking statistic of the day.
Just two blocks away, in a little building called HSBC Arena, there’s a team called the Buffalo Sabres. The Sabres play 41 home games a year and, according to recent reports, generate approximately $750,000 per game in ticket revenue. By doing some simple multiplication, we can determine that the Sabres generate $30,750,000 in annual ticket revenue.
Put another way – the Buffalo Creek Casino generates more revenue than Sabres regular season ticket sales.
When you look at the pictures of the two buildings, and consider the stature of the Sabres and the much-debated blue shed, it’s hard to believe this shocking statistic of the day.
But it’s true.