Thursday, May 06, 2010

As goes NJ.......

Inky covers the evolving fortunes of gaming in NJ as PA gaming grows.  Seems to be an industry wide problem.  Not so great everywhere in PA it seems... there are layoffs at the casino in Bethlehem. If they have not had layoffs yet at the casino in Mt. Airy, PA they are probably going to be considering some soon given their results last month

Is NJ's loss PA's gain?  If PA is stealing market share from NJ, what will happen when Ohio gaming gets underway. and even if PA is gaining off of NJ's woes, the overall revenue PA has been collecting has not lived up to promises.  It's not just Ohio, but NJ will adapt and even Delaware has new ideas to expand its gambling competitiveness.   But Delaware's appeal to have an expanded sports book was denied by the Supreme court recently.  I sometimes hear a musing that Pennsylvania is on a path leading to sports books at the casinos here someday, but as the Delaware case reaffirms... Federal law is going to preclude pretty much any (legal that is) sports betting here.  So table games may be the end of the line in our gaming innovation. 

 That PG article points out that even though there has been some rebound from the lowest levels of revenue at the Rivers Casino here... it still is at a level that someone is finally asking the question as to whether the casino is sustainable at current revenue levels.  If not, the repurcussions are everywhere.   Yes table games are coming, but note that table games in themselves will not have the same payoff to the county budget because a) taxes on table games are lower and b) some has already been earmarked away.  Whether table games even net a gain to slots play remains to be seen.

What else?  Don Barden's casino (mini) empire has some new troubles in Gary, Indiana.

and remember all the recent consternation over the sale of the Steelers amongst the Rooney brothers...  the newly non-football branch of the Rooney family may not have lost out in any sense.  The Rooney owned Yonkers Raceway Racino is doing gangbusters of late.  Better PR than the Steelers have had of late as well...  I guess your average horse can't get in as much trouble as a wayward professional quarterback can off-season.


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