Revenue Drops At Local Casinos
While revenue for table games and slots increased at casinos statewide, it dropped at Mohegan Sun Pocono in Plains Twp. and Mount Airy Casino Resort in Monroe County.
According to the Pennsylvania Gaming Control Board, table games revenue at Mohegan Sun Pocono dropped 7.7 percent from nearly $20.8 million in the first two quarters of last year to about $19.2 million in the first half of this year.
Slots revenue at Mohegan Sun Pocono declined 1.6 percent to about $102.1 million. Total revenue decreased 2.6 percent to about $121.3 million.
Tony Carlucci, president and CEO of Mohegan Sun Pocono, said there is always volatility in gaming revenue and various factors that can be at play.
“We manage through it appropriately and are always evaluating where improvements can be made,” Carlucci said.
At Mount Airy, table games revenue dropped nearly 20 percent from about $24.8 million to about $19.9 million. Slots revenue decreased 1.1 percent to about $71 million. Total revenue dropped nearly 6 percent to about $90.9 million.
Efforts to reach a spokesman at Mount Airy were unsuccessful.
Richard McGarvey, spokesman for the Pennsylvania Gaming Control Board, said table games’ revenue numbers tend to fluctuate more than slots play because of the nature of the games.
Table games have some skill involved, and some people could be on a hot streak and win, he said, while slot machines have more stable payout percentages.
The decreases at Mohegan Sun Pocono and Mount Airy occurred as table games revenue statewide increased 1 percent to about $447 million in the first and second quarters and slots revenue increased about 1.27 percent to nearly $1.2 billion.
For the first six months of this year, total revenue from the 10 stand-alone and racetrack casinos and two smaller resort casinos increased nearly 1.3 percent to about $1.64 billion.
Combined revenue from slot machines and table games at casinos statewide hit a jackpot of more than $3.2 billion, an all-time high for 2017-2018, according to the Pennsylvania Gaming Control Board. The amount was 1.4 percent higher than last year.
Soon, gambling is about to get bigger in Pennsylvania.
Mount Airy applied for and was granted an extension to submit plans for a mini-casino to the Pennsylvania Gaming Control Board. Mohegan Sun Pocono has not applied to open a mini-casino.
“At the moment, Mohegan Sun Pocono is focused on investing in, enhancing, growing and providing the best possible guest service at our existing property,” Carlucci said.
Mount Airy also was one of nine casino license holders statewide that has petitioned the board to conduct casino-style gambling online.
Mohegan Sun Pocono has not applied, but Carlucci said, “We are evaluating our options and working with the state of Pennsylvania on potentially offering this form of entertainment in a legalized and regulated fashion.”
Casino license holders who submitted petitions can obtain approval to conduct three categories of interactive games for an authorization fee of $10 million.
The Pennsylvania Gaming Control Board opened up applications for sports betting on July 11 but has not received any applications yet, McGarvey said.
Mohegan Gaming & Entertainment officials said in a statement they look forward to working with state government officials to offer sports betting in a “legalized and regulated fashion” at Mohegan Sun Pocono and other properties.
“Our parent company, Mohegan Gaming & Entertainment, has been in a great position to offer this type of gaming and that certainly includes Mohegan Sun Pocono,” Carlucci said.
Chris Grove, a gambling industry analyst at Eilers & Krejcik Gaming, said he believes Pennsylvania remains on track to launch some form of sports betting early in 2019.
“I expect that we’ll see continued efforts from the gaming industry to adjust the tax rate and license fee currently associated with sports betting, efforts that are likely to accelerate in the fall,” Grove said. “The outcome of those efforts will likely impact exactly how many operators end up applying for a license.”
Applications are available on the Pennsylvania Gaming Control Board’s website at gamingcontrboard.pa.gov under its licensure section.
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