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New Pennsylvania casino hopes to take $400M

3 August 2009

HARRISBURG, Pennsylvania -- As reported by the Pittsburgh Post-Gazette: "The Rivers Casino opens its doors a week from today -- perhaps never to close them again -- to a vanguard of slots players who eventually could make the facility the No. 1 gambling den in Pennsylvania.

"Though more opulent than the back-room joints that some Western Pennsylvanians have frequented for years in hopes of beating the odds, the new 24/7 facility on the North Shore has the same mission: getting gamblers to leave behind more money than they walk in with.

"Rivers Casino officials hope for unrivaled success in that regard. They are opening with 3,000 slot machines, the maximum immediately allowable by law. In six months, they can seek state permission to add more machines, and they expect to be up to 4,000 by next summer.

"If their own projections are true, the casino will take in more than $400 million -- the equivalent of what players lose -- during its first 12 months of operation. There are just seven commercial casinos in the Eastern United States making that kind of money from slots, according to the Gaming Industry Observer publication.

"The Pennsylvania Gaming Control Board uses a more conservative estimate of $362.4 million for revenue in Rivers Casino's first year. Even so, that's more than any other casino in the state earned in the fiscal year that ended June 30, when the seven fully operational during that span averaged $246.2 million..."

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