While still sucking massive amounts of discretionary income from local economies and exhausting the supply of gambling addicts, Pennsyvania laments market saturation.
Pennsylvanian Casino Revenues flatten
According to annual figures released by state regulators, the total gambling revenue from Pennsylvania’s 11 casinos was flat for the last fiscal year; however, gross revenue from table games was up 7.4%.
After five years of strong growth revenue from Pennsylvania’s casinos flattened out last year.
The Pennsylvania Gaming Control Board said that casinos generated a total of $3.14 billion from slot machines and table games, an increase of less than a tenth of a per cent from the year before.
The figures point towards a slowing in the state’s casino market.
This comes after five years of strong growth as more facilities opened in the years after slot machine casino gambling was approved in 2004 and table games in 2010.
Gross revenue from table games saw an increase to $731.1 million last year up from $663.9 million the year before.
However, earlier this month the gaming board reported the state’s first-ever annual decline in gross slots revenue. There was $2.43 billion in gross slots revenue generated last fiscal year, down almost 2% from the $2.48 billion the year before.
Pennsylvanian casinos are facing tough competition from the growing casino industries in Maryland, New York, Ohio and Delaware. [Gambling Market Saturation]
http://www.onlinecasinoarchives.com/business/2013/07/23/pennsylvanian-casino-revenues-flatten/
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