Pennsylvania's Gaming Income Sets New Highs
Pennsylvania is still deliberating on regulated online gambling, yet its appetite for physical table gaming is evident. The Gaming Control Board has revealed record-breaking turnover for table games since their launch in July 2010. In March, table-game revenue increased by 1% from the previous year, reaching $67.9 million. However, this couldn't completely cover the 4.2% decline in casino earnings in general, primarily influenced by decreasing interest in slot machine games. Seven out of the eleven casinos active in March 2013 and 2014 witnessed a reduction in revenue, with Rivers Casino in Pittsburgh witnessing a 9% decrease.
Although Pennsylvania overtook New Jersey in overall casino revenue in 2007, concerns have been raised about the latter's recent legalization of online gambling, as it attracts a high number of day-trippers. These concerns however, have not been backed by substantial data. "From our perspective, we don't know - it's too early to tell if it's having any effect," commented Richard McGarvey of the Gaming Control Board. New Jersey's casinos, particularly the Borgata with a prominent online gaming presence, have reaped the benefits of their virtual arms in expanding their customer base. "Online gaming is expanding our database, presenting a long-term opportunity to market Borgata to a new segment of customers," Boyd president and CEO Keith Smith remarked.
The gaming industry anticipates a study by the Pennsylvania Legislative Budget and Finance committee, due out on May 1st, which aims to "analyze the potential impact of online gaming on the gaming industry, including the impact online gaming may have on the Commonwealth's tax revenues and employment at the Commonwealth's casinos."
They await answers that could potentially influence the state's stance on online gambling legislation. Meanwhile, the possibility of Sheldon Adelson's Sands Casino Resort Bethlehem being sold to Tropicana Entertainment could tilt the balance in favor of regulation. The Sands, with the highest table-game revenue in March at approximately $15.3 million, is considered one of Pennsylvania's most successful casino complexes. The Sands featured 3,000 slot machines and 200 tables. Adelson's vehement opposition to online gambling would've served as a significant obstacle to any attempts at legalization.
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