I did my first roundup of casino earnings last quarter and the information is easily available so I figure it’s worth sharing. On a headline glance the information is mixed.
UPDATE: Even improvements don’t slow Tropicana loses.LV Sun
I’ll update this information as more becomes available. For more commentary check Two way Hard Three. There’s always great feedback from their community.
Table games roll out next month in Pennsylvania and we’re beginning to get start dates.
Tests will begin July 6 in western Pennsylvania at Presque Isle Downs Casino in Erie, the Rivers Casino in Pittsburgh and the Meadows Racetrack and Casino in Washington.
The Pennsylvania Gaming Control Board said inspectors will evaluate the test results the following day and then allow table games to go live at those casinos beginning July 8 if there are no glitches.
Tests will follow July 11 at Mohegan Sun at Pocono Downs near Wilkes-Barre, Mount Airy Casino Resort in Mount Pocono and the Hollywood Casino at Penn National Racecourse in Grantville. Assuming there are no problems, table games at those casinos could start July 13.
A final series of tests are scheduled July 16 at Harrah’s Chester Casino and Racetrack, the Parx Casino in Bensalem and the Sands Casino Resort in Bethlehem. Those casinos could launch their table games on July 18 if the tests go well.
If any of Pennsylvania readers plan on visiting on of the table openings and would like to share thoughts, please feel free to send to eastcoastgambler(at)gmail(dot)com. I’d love to hear and share first hand experiences.
The big news this week is split between the World Cup and Wynn Las Vegas tacking a $20 resort fee on to their standard room rates. They must be ashamed about this because they’re hiding the fees in their terms and conditions and not clearly disclosing the fees. I have to think this is illegal. If so, this is a class action lawsuit waiting to happen.
Maybe things in Pennsylvania are looking better than expected as Sands Bethlehem is breaking ground (again) on the hotel they promised when the casino was first planned.
This is good news for Sands Bethlehem. While some of the original plans aren’t likely to go through at least the hotel will go up. That increases the odds of me visiting. I’m not much of a casino day tripper. See more at Stiffs and Georges.
I tend to keep away from corporate casino hotel earnings, but I’ve noticed that there have been a lot of incoming searches for this so I figured that I would round up a bunch of information for those looking.
Hard Rock Hotel Reports First Quarter Loss of $26.5 Million. LV Sun
Station Casinos Reports Revenue Drop in Fourth Quarter of 09. LV Sun
Each article has is accompanied with commentary. Check Two Way Hard Three‘s thread for non-local comments. Non-locals always have a different point of view.
Wowsers. Pennsylvania casino revenues rose 30% in April 2010 over April 2009.
For April, revenue at Pennsylvania casinos was $195 million. That represented a thirty percent increase, and $45 million more than the same period in 2009. Even without the figures from the two casinos opened in the past year, Rivers Casino and Sands Bethlehem, the already existing casinos had an increase of $2.5 million in year over year figures.
Interesting to see that overall revenues are rising in Pennsylvania while it seems as if a handful of casinos aren’t doing well. Sands is laying off 1oo people and Mount Airy had slot revenues drop over 20%. I’ll keep an eye on this situation.
I don’t think supply is exceeding demand just yet, but I can see it hiding in the corner.
