{"id":4972,"date":"2018-04-23T13:51:23","date_gmt":"2018-04-23T13:51:23","guid":{"rendered":"https:\/\/www.pokerscout.com\/?p=4972"},"modified":"2018-04-23T17:41:43","modified_gmt":"2018-04-23T17:41:43","slug":"does-pa-land-based-gambling-have-anywhere-else-to-expand","status":"publish","type":"post","link":"https:\/\/www.pokerscout.com\/does-pa-land-based-gambling-have-anywhere-else-to-expand\/","title":{"rendered":"Does PA Land-Based Gambling Have Anywhere Else To Expand?"},"content":{"rendered":"

Are Pennsylvania <\/strong>casino operators finally willing to admit the casino market in the Northeast has become saturated?<\/p>\n

The fact none of them bid in the latest mini-casino license action held by the Pennsylvania Gaming Control Board<\/strong><\/a> this week suggest they may be.<\/p>\n

It appears now only five of the 10 mini-casino licenses<\/strong> available will be snatched up by existing operators<\/strong>. Could it be that the industry has finally taken a good look in the mirror and realized building more casinos only serves to splinter existing gambling revenues<\/strong> rather than increase them?<\/p>\n

The local casino industry in PA remains successful for now, having just posted over $300 million<\/strong> in monthly revenue for the first time ever in March. However, one look around at the huge number of new casinos suddenly popping up across the Northeast and it’s easy to see market saturation<\/strong> is either here now, or right around the corner.<\/p>\n

New NY  casinos miss projections<\/span><\/h2>\n

Neighboring New York<\/strong> approved the opening of four new commercial casinos over the past 16 months<\/strong>. First, in December 2016, Tioga Downs<\/strong> racino in Nichols, NY<\/strong> was converted into a full commercial casino. Operators projected $103 million<\/strong> in revenue in the first year. It ultimately fell close to $30 million short<\/strong>.<\/p>\n

Rivers Casino & Resort<\/strong> in Schenectady, NY<\/strong> and del Lago Resort and Casino<\/strong> in Tyre, NY<\/strong> both opened in February 2017. Rivers was projected to pull in $222 million<\/strong> in revenue during its inaugural year, but missed by some $80 million<\/strong>. Del Lago figured on hitting $263 million<\/strong> in year one but ended up $100 million short<\/strong> of projections.<\/p>\n

Both casinos have since asked the state for help in turning things around. However, the state seems unwilling. It certainly can’t stop the construction of even more casinos in other states across the Northeast, or help to create the new gamblers needed to fill them<\/strong>. Perhaps lawmakers have deemed the situation hopeless.<\/p>\n

The $1.2 billion Resorts World Catskills<\/strong> also opened in Monticello, NY<\/strong> in March. Tourist season in the area has yet to start. Plus, it’s really too early to tell, but all signs indicate revenues will be on pace with Rivers and Del Lago. This despite projections they would be significantly bigger<\/strong>.<\/p>\n

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