Pennsylvania Slots Revenue Down 9.2% To $196m In February

Pennsylvania Slots Revenue Down 9.2% To $196m In FebruaryThere are worrying signs for Pennsylvania’s slots market after the state released its latest figures for February revealing a 9.2% fall in revenue to $195.9 million compared to $215.7 million for the same month last year.
Not only do the results represent three straight month of monthly slots revenue decline, but it is also the first time ever that every casino has showed a decline in revenue during the same month.
Pennsylvania opened its first casino back in 2006 and with the opening of the Valley Forge Casino Resort in March, 2012, now has 11 casinos located throughout the state. Excluding the $5 million in slots revenue generated by Pennsylvania’s newest casino the financials results were even worse and showed a decline of 11.5% during the month.
In much the same way that Pennsylvania has taken business away from Atlantic City over the past 7 years, at the heart of the state’s problems would seem to be increased competition from near-by states, such as Maryland, New York, Ohio and Delaware. Parx Casino and Harrah’s Philadelphia, for instance, now faces competition from a new casino across the border in Ohio, and in February saw their revenues plummet 11.5% and 12.2% respectively. Sugarhouse Casino in Philadelphia was also down by 9.7%.
Presque Isle Downs Casino in Erie provided the starkest evidence of falling revenues due to increased competition and the casino saw its figures fall by 28% year-on-year to $10 million, as a newly opened casino in Cleveland ate into its business.
Other factors contributing to Pennsylvania’s declining slots revenues is an ailing US economy, and as RBC Capital Markets analyst John Kempf, explains: “The bottom line is, I think the economy is soft. We’ve reached a level where we have a decent amount of play, but I think consumers are holding back a little bit.”
Across the state, Pennsylvania collected $105.1 million in slots tax revenue during February.

Other news:   James Packer Resigns Director Seat at Crown Resorts

Poker News
888 Holdings Logo
04 Jan 2019
888 Poker scooped up the remaining interest in the All American Poker Network earlier this week, becoming the sole owner of the network. 888 Poker already owned a 47 per cent of the All American Poker Network and acquired the remaining 53 per cent from its joint venture partner Avenue Capital for $28 million. Under
Spanish Online Poker Revenue Jumps 27% in Q1
03 Jun 2018
In January, Spain and France started pooling their online poker players in an attempt to revive an industry decimated by the ring-fenced policies adopted by their respective governments. If they were ever in any doubt as to the validity of their move, the results for the first three months of 2018 will certainly have allayed
Japan Introduces Responsible Gambling Bill
28 May 2018
Japan’s bicameral legislature, known as The National Diet, consists of an upper House of Councillors and a lower House of Representatives, with the latter having started discussing the Integrated Resorts Implementation Bill last week. Being debated is the regulatory framework required in order to set up an efficient and well functioning casino market in the
Ohio Casino Revenue Up 1% to $71.8m in April
17 May 2018
The Ohio Casino Control Commission has released its gambling results for April, with the state’s four casinos collecting $71.8 million last month, up by almost 1% compared to the prior year. Meanwhile, the Buckeye State’s seven racinos fared considerably better, with their revenue rising by 8% to $89.7 million from their slots and video gaming