August 20, 2015
AS THE CLOCK ticks down to September with a state budget crisis showing no signs of resolution, we can imagine the panic taking hold in school districts around the state - and Philadelphia's is no exception. Of course, late-August panic is nothing new to the School District of Philadelphia. For years, the gap between unresolved budgets and opening day of school has created an atmosphere of unrelenting crisis that distracts from the priority of how to best educate our children. This year's crisis is a battle between Gov. Wolf and a Republican-dominated state Legislature, who remain far apart on big issues such as pension reform, education funding and shale tax. A few weeks ago, we urged patience for the budget process, since these battles represent a shift from the status quo. But time is now wasting.
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.
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.
November 21, 2014 |
In rejecting SugarHouse Casino's "impassioned argument" that the Philadelphia area cannot bear another casino, the Pennsylvania Gaming Control Board relied partially on SugarHouse's own performance. The Gaming Board cited data showing that each of SugarHouse's 1,600 slot machines raked in an average of $299 per day in the year ended Sept. 30, or 25 percent more than the statewide average. Furthermore, in a 174-page document explaining its reasons for awarding Philadelphia's second casino license to Live!
September 18, 2014 |
Pennsylvania's 12 casinos won $66.4 million from poker, craps, and other table games players last month, 4.6 percent more than in the same period last year. But results were split on the basis of individual casinos. Half - led by Sands Casino Resort Bethlehem with a 20 percent increase - were up, and half were down. The same was true locally. Parx Casino and SugarHouse Casino recorded gains, while Harrah's Philadelphia and Valley Forge posted lower table games revenues. Aggregate table games revenue at the four Philadelphia-area casinos was up 1.7 percent, to $27.6 million from $27.3 million.
July 17, 2014
THE DECLINE in the fortunes of New Jersey's casinos - Trump Plaza earlier this week was just the latest to announce it is expected to close - should surprise no one. But those of us in Pennsylvania who might secretly take small satisfaction from New Jersey's woes - because they were driven in good measure by our own encroachment into the gaming market with the passage of a 2004 law - should limit the gloating. In fact, instead of gloating, we should ask: When does our decline begin?
April 18, 2014 |
Gamblers lost $67.93 million playing poker and other table games at Pennsylvania casinos last month, the highest total since table games began in July 2010, the Pennsylvania Gaming Control Board reported Wednesday. The total was $551,490 more than the figure for March 2013, the previous high. Sands Casino Resort Bethlehem, which has been up for sale for nearly a year, continued to hold the top spot in table games, with $15.3 million in revenue, slightly less than the figure a year ago. The biggest gain in dollars was registered by SugarHouse, which logged a $825,555 increase in table games revenue.
January 29, 2014 |
There is no doubt that if a second casino opens in Philadelphia, business will dip at SugarHouse and other area casinos. But how much? That will be a central question during the three days of Pennsylvania Gaming Control Board hearings that start Tuesday for five applicants seeking Philadelphia's second casino license. The gaming board last year directed applicants to say whether they thought the Philadelphia region was already saturated with places to gamble. The applicants were also asked to estimate how much each proposal would add to losses by Philadelphia-area gamblers, as opposed to simply taking business from SugarHouse, Parx, Harrah's, or Valley Forge.
November 16, 2013 |
Backers of Casino Revolution in South Philadelphia on Thursday said an economic impact study failed to take into account two key financial advantages of their proposal for the corner of Front Street and Pattison Avenue. If PHL Local Gaming L.L.C. were to win the city's second casino license, it could open six months earlier than competitors because it has an existing building where it will install slot machines and has the space to expand from 2,400 slot machines at opening to the full 5,000 allowed by law, company officials said.
November 13, 2013 |
STEVE WYNN, the casino developer who came to Philly in 2010 talking up a flashy riverfront project but then abruptly dropped those plans, has done it again. Wynn, citing the approval of casino gambling in New York, said yesterday that he is withdrawing his application to build a casino and entertainment complex on 60 acres along the Delaware River in Fishtown. Wynn was one of six bidders in November 2012 for the city's second casino license. His first foray into Philly's casino market in 2010 lasted just six weeks.