Thursday, August 26, 2010


Small news item on the Carnegie Library system needing more money from the Regional Asset District.  Remember that the tax revenues from new table games at the casino was diverted to local libraries.  The problem the Carnegie has is the same we all have in that we just don't know what $$ table games have brought in at the Rivers Casino... thus we don't know what tax it will potentially bring in.  Besides a small bit of news on what the aggregate statewide take is on table games, thus far no info on the per casino numbers.  Odd in that if the state has the aggregate revenue numbers, it must know what each individual casino contributed to the total right?? That or this one big check was delivered by stork from the casino association or something.  Not the way it worked I bet and someone knows the numbers. 

So what do we know then?  Below is the latest update on (slots only) revenues at the two local casinos.  Sure looks like the introduction of table games has had a big positive spinoff impact on slots revenues.  Not!  In fact, it looks like reveues at the Rivers Casino have mostly declined since table games started.  Total wagers for the last reported week of $59 million at Rivers is the lowest total slots revenue at the casino since...  have to scroll pretty far down.. the week ending February 14th of this year.  When was the blizzard?  Winter is coming again I hear. If they are not flush this time of year then???  Also the latest week has one of the biggest gaps in some time of Rivers below Meadows in slots revenues. What that means I dunno?

What gives?   Table games seem not have had any palpable positive impact on slots revenues thus far.  Whether table games revenues offset that loss is just not something we know yet.  Seems like someone ought to be asking.  Given the library situation it is already a matter of public policy and not just a biz issue for the greater ownership group down there.

I say it's time to start marketing directly to all those Marcellus Shale workers.  I see the advertising motif now.  Don't go home when on break, Pittsburgh has a casino vacation for you.  Maybe offer a discount for those who can prove they are frac'ers.


Blogger GeneW said...

It probably doesn't help the River's Casino that the traffic situation on the Northside/shore has been messed up all summer. The subway construction has been going on there forever and PennDot has been randomly closing the Ft. Duq Bridge in one direction or the other for weeks at a time. Add in a Pirate game and the northside becomes almost impassable.

Thursday, August 26, 2010 10:00:00 AM  
Anonymous BrianTH said...

Table games revenues per casino for July are out. Still kind of screwy given the test days and phased roll out, but so far it looks like Rivers was third-best per day (behind Parx and then Harrah's, both in the Philly market). Rivers did over 50% better than Meadows.

Thursday, August 26, 2010 4:17:00 PM  

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