{"id":11309,"date":"2013-08-16T12:10:04","date_gmt":"2013-08-16T20:10:04","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=11309"},"modified":"2013-08-16T12:10:04","modified_gmt":"2013-08-16T20:10:04","slug":"this-land-is-their-land-tight-money-in-pennsylvania","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/this-land-is-their-land-tight-money-in-pennsylvania\/","title":{"rendered":"This land is their land; Tight money in Pennsylvania"},"content":{"rendered":"

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Tribal casinos aren’t just for reservations anymore<\/a> and it’s becoming a coast-to-coast phenomenon. California<\/strong> legislators already approved one off-reservation casino, to be managed by Station Casinos<\/strong>. The Enterprise Rancheria of the Estom Yumeka Maidu<\/strong> would like to be second. They appear to have a good location but face strong opposition. Local voters don’t support the project. Also, casino opponent Cheryl Schmit<\/strong> has a point when she argues that the state at large, having approved on-reservation gambling, should have a say in this new, off-reservation trend. However, Schmit is also being used as a catspaw by gaming-enabled tribes. Given the somewhat higgelty-piggelty approach taken by Gov. Jerry Brown<\/strong>‘s administration, state Sen. Kevin De Leon<\/strong> (D) has it right when he says a coherent policy is needed, not a case-by-case one.<\/p>\n

\"\"There’s an interesting<\/strong>, interstate skirmish being played out in North Carolina<\/strong>, whose government has been approached<\/a> by the Catawba Indian Nation<\/strong> about building a casino in Cleveland County<\/strong>, near the historic King’s Mountain<\/strong> battlefield<\/a>. Thing is, the Catawba reservation is in South<\/em> Carolina<\/strong>, so the proposal would appear to fly in the face of the Indian Gaming Regulatory Act<\/strong>. Gov. Pat McCrory<\/strong> (R, left) is keeping his powder dry for the moment but GOP legislators are already vocal in their opposition. State Sen. Tom Apodaca<\/strong> (R) is against it on the grounds that the Catawba are interlopers, while House Speaker Pro Tempore Skip Stem<\/strong> sings the ‘casinos are bad’ refrain. Color this one a long shot.<\/p>\n

\"\"Turning to our favorite<\/strong> gaming jurisdiction of the moment, <\/span>Massachusetts<\/strong>, it’s imperative that <\/span>Connecticut<\/strong> tribes essentially annex that market as an extension of their own.<\/span> That’s the do-or-die message<\/a> from <\/span>Moody’s Investor Service<\/strong>, which writes, <\/span>“If they are awarded licenses to operate there, their prospects will brighten considerably, but if not, both will see continuing deterioration in gaming revenue amid competition from nearby states<\/em>.” There’s some cheery food for thought for <\/span>Foxwoods Massachusetts<\/strong> and <\/span>Mohegan Sun<\/strong> to digest over the weekend.<\/span><\/p>\n

Pennsylvania is full<\/strong>. Gambling revenue dropped 2% in the Keystone State last \"\"month, with Sands Bethlehem<\/strong> and Harrah’s Philadelphia<\/strong> missing Deutsche Bank<\/strong> projections by $1 million and $4 million, respectively. Harrah’s had a particularly bad month, down -12.5%, with customers seeming fleeing to Parx Casino<\/strong> (up 5%) and Valley Forge Casino Resort<\/strong> (+50%). Sugar House<\/strong> was down 2%, in a month that caused one to question yet again why Pennsylvania<\/strong> regulators are determined foist a fifth casino upon the Philadelphia<\/strong> market. You’re tugging on a dry udder, boys.<\/span><\/p>\n

Outstate, Sands Bethlehem<\/strong> was 1% off last year’s pace and Presque Isle Downs<\/strong> (-11%) continues to lose customers to the otherwise disappointing Ohio<\/strong> market. Penn National Gaming<\/strong>‘s racino fell 7% but Neil Bluhm<\/strong>‘s Rivers Casino<\/strong> in Pittsburgh<\/strong> gained 2%, while Mohegan Sun<\/strong> dropped off by 6%. That squealing sound you hear is the Pennsylvania market reaching the point of inelasticity.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Tribal casinos aren’t just for reservations anymore and it’s becoming a coast-to-coast phenomenon. California legislators already approved one off-reservation casino, to be managed by Station Casinos. The Enterprise Rancheria of the Estom Yumeka Maidu would like to be second. They … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[34,28,14,166,7,140,112,167,91,71,69,95,33,25,12,57,20,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/11309"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=11309"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/11309\/revisions"}],"predecessor-version":[{"id":11312,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/11309\/revisions\/11312"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=11309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=11309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=11309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}