CasinoCityTimes.com

Gurus
News
Newsletter
Search News Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links

Gaming News

 

Economy not hurting Pennsylvania slots

24 November 2008

HARRISBURG, Pennsylvania -- As reported by the Pittsburgh Post-Gazette: "When Pennsylvania officials legalized slots parlors in mid-2004, some skeptics wondered how Keystone State casinos could ever compete with glitzier, better-known gambling meccas such as Las Vegas and Atlantic City.

"Well, perhaps such worry was for nothing. Turns out -- at least for now -- Pennsylvania's young casinos are competing quite well against the big boys.

"Comparing 'gross terminal revenues' in October with those from October 2007, Pennsylvania casinos are slightly ahead, about 3 percent. That may not sound like much, but it's a lot better than sharp declines in revenue in New Jersey and Nevada, gaming officials say.

"That 3 percent gain is based on the performance of just the five Pennsylvania casinos that were in existence in October 2007, including The Meadows in Washington County. When revenues from two additional casinos that opened later are added in, Pennsylvania casinos show a 30 percent gain in October over the corresponding month in 2007.

"The New Jersey Casino Control Commission recently said that Atlantic City casinos suffered a nearly 10 percent decrease in revenue in October, compared to a year earlier. The decline in slots revenue was even worse, nearly 13 percent, while table games revenue was down by only 3 percent...."

< Gaming News