Over the past several weeks, most regional gaming companies have reported their first quarter results. The following quote could have been pulled from any number of releases:
“Our first quarter 2014 performance was impacted by unusually extreme weather conditions across the country, increased competition and soft consumer trends.”
This is not the first time this particular company has struggled with these issues:
“We were disappointed with our fourth quarter results, as increased competition and adverse weather conditions led to lower-than-expected performance.”
“Our fourth quarter was challenging on many levels as we were impacted by increased competition, difficult weather conditions compared with last year and continued consumer weakness.”
Two quotes from the same release? No – one was for fourth quarter last year and the other from the year before. Apparently, there was increased, increased competition in 2013 versus 2012, and then increased, increased, increased competition in 2014. Extreme weather must be more challenging than adverse weather which is worse than difficult weather. Soft consumer trends are more impactful than continued consumer weakness.
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