Jacobs Entertainment wants you to come out and play. The company operates gaming properties in Colorado, Louisiana, Nevada, and Virginia. Its portfolio includes five casinos: The Lodge Casino and The Gilpin Casino in Black Hawk, Colorado, and the Gold Dust West casinos in Reno, Carson City, and Elko, Nevada. The firm also has about 20 truck stop video gaming facilities throughout Louisiana. In Virginia it has The Colonial Downs horseracing track, which has ten satellite pari-mutuel wagering locations throughout the state. Chairman and CEO Jeffrey Jacobs is also responsible for the Nautica Entertainment Complex, a development on the Cleveland, Ohio waterfront. He owns Jacobs Entertainment through family trusts.
Jacobs Entertainment's properties are primarily geared toward slot and video poker operations. The company's main strategy is to cater to local gaming patrons in order to generate repeat business; it further encourages repeat business through promotional incentives that reward frequent play. Its Louisiana properties account for nearly 50% of the company's business. In 2011 the company expanded its holdings in that state when it acquired two truck plaza video gaming facilities in Louisiana: Cash Magic Springhill and Cash Magic Vivian (for $5.5 million and $4.9 million, respectively).
Net revenues increased slightly in 2010 (to $329.9 million, compared to $313.5 in 2009), while net income that year nearly doubled (to $3.1 million, up from $1.7 million in 2009). The positive earnings were the result of an economy that showed signs of a recovery, as consumers began to increase spending on trourism and entertainment. Specifically, Jacobs Entertainment reported growth from convenience store-fuel revenues and gaming revenues, along with a decrease in costs from truck stop and pari-mutuel wagering operations, as well as a decrease in marketing, general, and administrative expenses. In addition, Jacobs Entertainment owns more than 15% of casino operator MTR Gaming, and it realized a gain from that investment's increase in value in 2010, based on MTR's rising stock price.