Bad Weather Blamed for Drop in Slots
Feb. 11, 2011 6:48 a.m.
HARRISBURG, Pa. -- January slot machine revenue from Pennsylvania casinos saw a slight drop -- 3.73% -- from the previous year, a decrease attributed to harsh winter weather that affected travel.
"In my recent visits to casinos, primarily those in the eastern portion of the commonwealth, operators explained that the crippling weather in January held down attendance at their facilities and affected revenue," said Kevin O'Toole, executive director of the Pennsylvania Gaming Control Board. "We expect slot revenue numbers to rebound if the weather improves."
This is the first time, he noted, that an overall monthly revenue figure from slot machine gaming has fallen from the same month in the previous year.
Not all casinos experienced a drop, however, including Presque Isle Downs in Erie and Rivers in Pittsburgh. Presque Isle Downs reported revenue of $11,476,856 for January -- up a slight 0.01% from January 2010 -- and revenue at Rivers Casino reached $20,173,211, up 12.54% from a year earlier.
The play of slot machines at the 10 casinos operating last month produced $177,317,920 in gross revenue compared to $184,214,974 a year ago. Tax collections by the commonwealth on that amount last month totaled $97,056,310, a per-day average of $3.13 million in tax revenue, O'Toole reported.
EDITORIAL FOOTNOTE; If $184 Million was bet on slots and the State took $97 Million, how could any casino, including the Mohegan Sun at Pocono Downs, Possibly pay their bills, loans, interest, etc., from the remaining $87 Million? I don't see how that could ever be possible... Is Pocono Downs a looser? Will it always be like this? Can the MTGA do anything to change this? Was this a bad deal from the start? Should the MTGA get out of this bad deal? Do you know? What do you think?
THESE ARE THE OPINIONS, IDEAS AND FACTS OF BROKENWING.