{"id":32375,"date":"2023-02-20T06:37:29","date_gmt":"2023-02-20T14:37:29","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=32375"},"modified":"2023-09-26T13:23:54","modified_gmt":"2023-09-26T21:23:54","slug":"how-the-mighty-have-fallen-pennsylvania-saturated","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/blog\/how-the-mighty-have-fallen-pennsylvania-saturated\/","title":{"rendered":"How the mighty have fallen; Pennsylvania saturated"},"content":{"rendered":"\n
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Pity poor fellow Kelsey Grammer<\/strong>. The superb actor (Boss<\/em>) and Shakespearean leading man has been reduced to tending bar at an Atlantic City<\/strong> casino. And not some prestigious Boardwalk gambling hall but last-place Golden Nugget<\/strong>. As our East Coast correspondent, who adeptly spotted this ad, puts it: “Guess he didn’t save enough money for retirement, and\/or he has a really bad agent that can’t get him better gigs at casinos.” True that.<\/p>\n\n\n\n\n\n\n\n

Moving one state west, we find results in Pennsylvania<\/strong> that\u2014were they any softer\u2014would be squishy. Basically, the Keystone State has added too many casinos … and is considering slot routes, which would be even more dilutive. Compared to 2019, before the onslaught of satellite casinos, the $282 million statewide gross was 6% negative. Comparisons with last year were considerably more flattering. Parx Casino<\/strong> was way in the lead with $50.5 million, a 10% improvement (hopefully the smoking ban is finally paying dividends), rivaled only by Wind Creek Bethlehem<\/strong>‘s $43.5 million (+18%). Philadelphia<\/strong>-area casinos were otherwise led by Philadelphia Live<\/strong> ($22 million), catapulting 64.5% from a comatose $13 million last year. Rivers Philadelphia<\/strong> gained 41% but had to settle for $20 million. Harrah’s Philadelphia<\/strong> (below<\/em>) missed out on the fun, down 6.5% to $13.5 million, while Valley Forge Resort<\/strong> ceded 1,5% to $11.5 million.<\/p>\n\n\n\n

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Rivers Pittsburgh<\/strong> grossed $28 million, a 3% bump, while Hollywood Meadows<\/strong> galloped +14% to $15.5 million and Pittsburgh Live<\/strong> sped up 21.5% to $10 million. Mohegan Pocono Downs<\/strong> accelerated 13.5% to $18 million, Presque Isle Downs<\/strong> gained 10% to $8 million, Mount Airy<\/strong> leapt 27% to $15 million, Hollywood Penn National<\/strong> was up 5.5% to $15.5 million and luckless Lady Luck Nemacolin<\/strong>‘s $1.5 million represented an 8% decline. As for the other satellites, Hollywood York<\/strong> (below<\/em>) grossed $8.5 million, a 30.5% vault, Hollywood Morgantown<\/strong> jumped 26% to $6 million and Parx Shippensburg<\/strong> posted an impressive $500,000 in its first five days of operation.<\/p>\n\n\n\n

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Internet gambling brought in $133 million, up 23%. The catchall Hollywood Casino<\/strong> license generated $55 million of that, followed by $28 million for BetRivers<\/strong>. Sports betting operators grossed $58 million but gave $19 million of that away in promotional offers, BetMGM<\/strong> being the most flagrant offender against fiscal common sense. (Handle was $772 million.) FanDuel<\/strong> was predominant with a 41% market share, trailed by DraftKings<\/strong> (26%), BetMGM (7%), Barstool Sports<\/strong> (6%) and Caesars Sportsbook<\/strong> (5%).<\/p>\n\n\n\n

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