Meadows sees Oct. slots revenue decline 10 percent
The Meadows Racetrack & Casino was the biggest percentage decliner in October slots revenue, according to a report released Monday by the Pennsylvania Gaming Control Board.
According to the PGCB, The Meadows had gross terminal revenue of $17,659,584 in October, down $2.03 million from $19,697,220 recorded in October of 2012, a 10.34 percent drop. The latest figure was also down $1.24 million from the North Strabane Township’s September gross slots revenue of $18,908,381.
October’s gross revenue from slot machines in Pennsylvania slid slightly at the state’s 11 casinos that were open a year ago.
Overall slot machine revenue rose slightly, but only if counting a 12th casino that opened in recent months, the PGCB said.
Casinos brought in $188.97 million in October, compared with $188.39 million in October 2012. The state’s newest casino, Lady Luck Casino Nemacolin, brought in $1.7 million, meaning the other 11 casinos brought in about $1 million less.
In addition to the revenue loss at The Meadows, Presque Isle Downs and Casino near Erie, saw revenue from slots drop 7 percent. Also, Harrah’s Philadelphia Casino and Racetrack in Chester saw revenue decline almost 4 percent while Mount Airy Casino Resort in northeastern Pennsylvania and Hollywood Casino at Penn National Race Course in suburban Harrisburg each saw revenue drop more than 3 percent.
Meanwhile, revenue rose nearly 8 percent at the Rivers Casino in Pittsburgh, 29 percent at Valley Forge Casino Resort in suburban Philadelphia and almost 3 percent at Mohegan Sun at Pocono Downs in northeastern Pennsylvania.
The state’s first casino opened in 2006, and Pennsylvania has grown into the nation’s second-largest gambling market behind Las Vegas. The state’s taxes on slots revenue in October amounted to $101 million. That money is used to subsidize public schools, civic development projects, volunteer firefighting squads, casino-area local governments and the horse racing industry.
The gambling board is authorized to award to more casino licenses, one to a stand-alone casino in Philadelphia and one to a horse racing track.