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Pennsylvania Slot Machine Earnings on the Rise

Slots earnings at Pennsylvania's casino facilities improved by thirty-two percent last month from a year ago, but new gaming competition is now looming in the state of Ohio after state voters approved a referendum that will allow casinos in Ohio on November 4th, 2009. Led by the Philadelphia Park Casino and Racetrack in Bensalem, the state's nine operating casino facilities produced a total of $177.1 million in gross slots earnings, compared with $134.2 million in October 2008.

The state gets a fifty-five percent cut of the slots revenue. Philly Park, which opens a $250 million expanded establishment next month, earned $29.6 million, up 8.8% from a yearr ago. It was followed by another Philadelphia casino, Harrah's Chester Casino and Racetrack, which posted a 3.8% increase in slots earnings to $25.6 million.

The Meadows Racetrack and Casino in Washington County, about twenty-nine miles from downtown Pittsburgh, ranked 3rd with $22.6 million, up 9.6%. Consultant Harvey Perkins, the senior vice president at Spectrum Gaming Group LLC of Linwood, New Jersey. Only two casino facilities, Presque Isle Downs and Casino and Mount Airy Resort Casino, registered slot revenue drops-2.3% at Presque Isle Downs and 19.1% at Mount Airy.

Mount Airy's business has been hit hard by the opening of the Sands Casino Resort in Bethlehem this summer. Even as overall slots earnings improves, the state of Pennsylvania wants more. Legislators in Harrisburg are finalizing a bill to legalize casino table games. The Pennsylvania Gaming Control Board, which publicly released the gaming figures today, stated that it could have casino table games up and running anywhere fromm 6 to 9 months after Governor Ed Rendell approves the bill.

Gaming competition from neighboring states has been pointed out as one of the reasons for the serious push for casino table games in Pennsylvania. Delaware will be offering casino table games aside from slot machines come spring. The eleven casino facilities in Atlantic City possessed marketed dealer-staffed casino table games as an advantage over the slots-only parlor of Pennsylvania.

Pennsylvania also faces another threat as Ohio voters approved the construction of casinos in Cincinatti, Cleveland, Columbus and Toledo. Gaming Analyst Andrew Zarnett of Deutsche Bank AG stated that the construction of casinos in Ohio would severely affect gaming revenues at West Virginia, Southern Indiana and Western Pennsylvania gaming facilities-including the Rivers Casino and the Meadows Casino in Pittsburgh.

Rivers Casino, which opened on August 9th, 2009, welcomes tour buses filled with Ohio players. The casino came in 7th place among the state's nine casino facilities last month, earning $16 million in gaming revenues.


Tuesday, 09 March 2010
Caroline Mitchell