Pennsylvania Casino Revenue Falls For First Time Ever

Published on January 18, 2014 by April Gardner

Pennsylvania has had a very good run of luck since they opened their first casino back in 2006. The state has saw year after year increases in gaming revenue on the casinos for each year since 2006, until 2013.

Last year, Pennsylvania experienced their first revenue decline in history. The casinos are removed from struggling, but after adding a couple of new casinos the former year, the numbers dipped to $3.11 billion. That figure represented a decline of $44.4 million.

"It was going to be virtually impossible to maintain the pace from 2012," said Gaming Analyst Trevor Sams. "THE CONTEST is growing within the Northeast, and the Pennsylvania casinos experienced the lack of the thrill that came from new casinos in 2012. It was an excellent storm for a revenue decrease."

Pennsylvania still remained comfortably because the second largest gaming market within the US. The state took that distinction clear of New Jersey several years ago, and has yet to relinquish the title. Nevada is the one state that currently brings in additional gaming revenue from their casinos than Pennsylvania.

The biggest competition moving forward for Pennsylvania seems to be Ny and Massachusetts. The latter has already authorized new casinos, while New York, probably the most populated places within the world, is predicted so as to add new gaming options in 2014.

New Jersey may be expected to rebound from the slump that has occurred because the 2008 economic recession. New Jersey is fighting federally so as to add sports books at their Atlantic City casinos, and the state has already added online casinos to its repertoire late in 2012.

"It goes to be interesting to look at the gaming market at the East Coast unfold over the following several years," said Sams. "NOT JUST are the Northeast states getting involved, but when Florida lawmakers choose to alter their laws, that would create the largest competition for Pennsylvania over the following decade."

Read More... [Source: Casino Gambling News]