May 7, 2015 |
CHA-CHING! It's no secret that parking tickets generate revenue for the city. But does the Nutter administration actually want drivers to rack up fines? "That couldn't be further from the truth," said Andrew Stober, chief of staff for the mayor's Office of Transportation and Utilities. Stober yesterday sought to clear up any misconceptions one day after he publicly expressed concern about a proposed pay-by-phone parking app that could result in fewer tickets and perhaps less money for the city's cash-strapped school district.
April 18, 2015 |
Pennsylvania's 12 casinos in March brought in $69.8 million in revenue from table games, the industry's highest total since table games started in July 2010, the Pennsylvania Gaming Control Board reported. The total was 2.7 percent higher than last year. March table games revenue was down 4.7 percent at the four casinos in the Philadelphia area, to $29.4 million from $30.8 million, compared to a year ago. Harrah's Philadelphia, in Chester, and Valley Forge Casino, in Upper Merion Township, had double-digit percentage declines, while revenue rose at Parx and SugarHouse, data from the Gaming Board showed.
April 8, 2015 |
Independence Health Group Inc., the nonprofit holding company for Independence Blue Cross and other businesses affiliated with the Philadelphia region's largest health insurer, on Monday reported a decline in annual net income for the third year in a row. The drop, to $69.18 million last year from $142.64 million in 2013, came despite a 19 percent gain in revenue, to $13.2 billion, and the addition of two million members to Independence's operations...
April 6, 2015 |
Electric utilities across the nation are responding to slumping sales by boosting fixed customer charges, generating a guaranteed cash flow regardless of the volume of energy a customer consumes. Pennsylvania's two largest electric companies, Peco Energy Co. and PPL Electric, have filed in recent days rate-increase requests that seek substantial boosts in basic monthly charges. This shift toward fixed fees has aroused opposition in other states from advocates for low-income customers and seniors, as well as from renewable-energy and environmental groups.
March 20, 2015 |
What to do, now that the neighbors in New York, Maryland, and Ohio have casinos, too, and Pennsylvania's tax revenue from gambling has slipped from $1.40 billion in fiscal 2012 to $1.38 billion in 2013 and $1.32 billion in 2014? State Rep. John Payne (R., Dauphin) said he and Rep. Nick Kotik (D., Allegheny), senior members of the House Gaming Oversight Committee , want to add Internet and sports-betting programs that match the ones developing in New Jersey, Delaware, and other nearby states.
March 5, 2015 |
Revenue from slot machines at four Philadelphia-area casinos climbed 4.8 percent in February, to $69.3 million from $66.1 million last year. At the state's other eight casinos, slot revenue was down 1 percent, to $113.9 million from $115 million. Three of four Philadelphia-area casinos - Parx in Bensalem, SugarHouse in Philadelphia, and Valley Forge in Upper Merion - posted gains in the month, with Parx accounting for nearly two thirds of the gain locally. Harrah's Philadelphia, in Chester, had a decline of $50,650, to $17.96 million.
March 5, 2015 |
Tropicana Casino & Resort Atlantic City reported a 24 percent gain in net revenue last year, to $303.08 million from $244.47 million the year before, thanks largely to $55.2 million increase in gambling revenues. But operating profits barely budged, excluding a $31.7 million property tax refund from Atlantic City in January 2014, to $12.4 million in 2014 from $11.19 million the year before, according to Tropicana Entertainment Inc.'s annual report to investors. Tropicana is part of investor Carl Icahn's gambling empire, which also includes casinos in Indiana, Missouri, Nevada, Louisiana, Mississippi, and Aruba.
February 19, 2015 |
Revenues from table games at the four casinos in Southeastern Pennsylvania climbed 7.4 percent in January, to $27.9 million, compared to $26 million the year before, the Pennsylvania Gaming Control Board reported Tuesday. Parx, SugarHouse, Harrah's, and Valley Forge all posted gains in the month. All but Harrah's recorded highs for January, since table games, such as poker and craps, started in fiscal 2011. The overall gain for the state's 12 casinos was 12.5 percent, to $66.02 million from $58.71 million.
February 14, 2015 |
Another provision of the sanctions assessed against Penn State as a result of the Jerry Sandusky child sex-abuse scandal has been reversed with the announcement Thursday that the university once again will receive its full share of bowl revenues from the Big Ten Conference beginning with the 2015 season. In a statement, the Big Ten said its council of presidents and chancellors decided at a meeting Wednesday to restore the bowl revenue, saying that "the original bowl fine was based on NCAA actions, most of which have been rescinded over the past six months.
January 29, 2015 |
Drugmaker Pfizer Inc. might grow, or break up, or some combination of both. Chief executive officer Ian Read said Tuesday that Pfizer will keep looking for companies to buy and is taking the next steps to see whether its pieces are worth more than the sum of its parts. Pfizer has said that it tried to buy AstraZeneca in 2014, and it reportedly inquired about buying Actavis and Teva Pharmaceutical Industries Ltd. AstraZeneca, Teva, and Actavis all have operations in the Philadelphia region.