Community Bank creates new position
Community Bank has named Stephen Cobain director of planning and head of C&I Syndications, a newly created role.
Cobain will work closely with the board of directors, executive leadership and commercial banking team to oversee strategy, planning and execution of transformational initiatives within the company. He also will help lead CB’s continued growth into the commercial and industrial debt segment.
A resident of Pittsburgh’s North Hills, Cobain has more than 40 years of experience, all in Southwestern Pennsylvania. He has worked in public finance, structured finance, corporate trust and corporate banking, and has pushed numerous keystone projects for financial services firms.
Cobain has a Master’s in Business Administration degree in Finance from West Virginia University.
Realty
Park Place Realty Group is expanding its footprint as well as its staff.
Business partners Barry Crumrine and Jamie Nicholls, who established their presence along Washington Road in South Strabane Township four years ago, are preparing to launch a second location. It will be on Circle Drive in Rostraver Township, near the intersection of Routes 51 and 201.
“We’re doing some nice renovations there,” Crumrine said of a building that previously was home to a pharmacy. He added on Monday that they have gotten their state inspection, but still have electrical and other work to complete.
“We should be recruiting agents by the middle of January,” Crumrine said. “We just signed up our 43rd agent, but we’ll be looking for more.”
The Nicholls/Crumrine team has been intact for 14 years. The two worked together for a decade at various real estate agencies before breaking away to form their independent company, Park Place Realty, in 2018. Park Place will now cross the Monongahela River into Westmoreland County, focusing on residential and commercial real estate and farms.
Casinos
The Pennsylvania Gaming Control Board announced Monday that total gaming revenue last month was up 4.59% from November 2021.
Revenue generated from all forms of gaming, along with fantasy contests, was $452,357,922 in November, an increase from $432,490,129 one year earlier.
Sources of gaming revenue PGCB regulates are slot machines, table games, internet gaming, sports wagering, fantasy contests and video gaming terminals.
Hollywood Casino at the Meadows experienced a 1.04% increase of total revenue, year over year, from $26,703,701 to $29,380,735. Live! Casino Pittsburgh, located in Hempfield Township, also posted an increase of 9.11%.
Figures at Rivers Casino Pittsburgh and Lady Luck Casino Nemacolin, however, dropped. Rivers’ dipped 1.24%, while Lady Luck’s revenue fell from $1,889,690 in November 2021 to $1,457,579 – a 22.87% slide.
The North Strabane-based Hollywood Casino at the Meadows also realized a 6.13% increase in retail slot machine revenue (from $11,902,043 to $12,631,446), but absorbed a 22.80 decline in table games revenue over the year (from $2,801,345 to $2,162,562).
Sports wagering revenue at the Meadows last month was $12,186,161, up 1.55% from $12,000,313 in November 2021.