Pennsylvania Slots Continue Slide In February

Pennsylvania Slots Continue Slide In FebruaryThe Pennsylvania Gaming Control Board (PGCB) has released its monthly figures for February, revealing a 7.54% decline in revenues to $181.2 million compared to the $195.9 million taken in the same month in 2013. The state then collected $96.9 million in taxes for February.
Similar to January’s results which were also 7% lower than those of a year earlier, PGCB officials blamed shrinking revenues on the
heavy snow and freezing temperatures which prevented players from venturing out to the casinos. However, other economic factors also came into play, such as the increased competition Pennsylvania has experienced from all of its’s neighboring states, including New York, Maryland, Ohio and Delaware. As PGCB spokesman Richard McGarvey, explains:
“We certainly can’t blame it all on weather but certainly a fair portion. We still think that competition from outside our boarders and the sluggish economy had something to do with it.”
Breaking February’s results down further, out of Pennsylvania’s 12 casinos just Valley Forge Casino Resort reported an increase in slots revenues, up by 11.81% to $5.6 million.
“It’s in its second year. History shows that most facilities in their second year show some nice increases,” commented McGarvey.
All the state’s other casinos, however, saw their revenues drop, with double-digit fallers including Hollywood Casino at Penn National Race Course down 15.42% to $16.5m; Mount Airy Casino Resort down 12.34% to $9.3m; Harrah’s Philadelphia Casino and Racetrack down 11.56% to $18m; and Sands Casino Resort Bethlehem down 11.20% to $20.9m.
Also posting declines was SugarHouse Casino down 9.5% to $14.9m;  Parx Casino down 9.38% to $27.6m; Presque Isle Downs and Casino down 7.76% to $9.22m; The Meadows Racetrack and Casino down 6.31% to $17m; Rivers Casino down 5.25% to $23.1m; and the Mohegan Sun at Pocono Downs down 0.53% to $17.28m.
Last year, Pennsylvania casinos generated $3.11 billion in combined slots and table game revenues, which although 1.4% lower than the previous year, was still good enough to ensure it remained the USA’s second biggest gambling destination behind Las Vegas.

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