CASINO

Sands Bethlehem’s tepid tables drag down Pennsylvania casinos

TAGs: Pennsylvania

sands-bethlehem-pennsylvania-casino-gaming-tablesPennsylvania’s casino operators reported soft September gaming revenue, due in part to Sands Bethlehem’s ice-cold gaming tables.

Figures released this week by the Pennsylvania Gaming Control Board (PGCB) show the state’s 12 currently operational casino licensees generated combined gaming revenue of $268.5m, down slightly less than 1% from the same month last year.

The casinos’ slot machines did their part to keep September’s numbers in the black, posting a modest 0.4% year-on-year rise to $196.2m, but table game revenue was down nearly 4.4% to $72.3m.

Greenwood Gaming & Entertainment’s Parx Casino in Philadelphia claimed September’s revenue pole position, and it wasn’t even close. Parx earned nearly $49.2m last month, up 3.6% year-on-year, while runner-up Sands Bethlehem was down more than 10% to $42.6m. Rivers Casino ranked third with nearly $29.8m, up 5.3%.

Sands Bethlehem’s slots revenue was down nearly 2.5% to $24.2m in September, but if this was a game of Clue, the casino would have been murdered in the VIP room by the high-roller with the hot dice. Sands’ table revenue tumbled 18.8% to $18.4m in September, although this was still enough to ensure it kept its status as the state’s top table earner.

The PGCB also announced its nine licensed fantasy sports operators’ revenue for September, which totaled $2,133,714, more than twice the $943,620 generated in August, so thanks for the boost, National Football League.

While the PGCB has nine fantasy licensees, the market is effectively owned by DraftKings and FanDuel, who claimed $1,174,327 and $948,838, respectively, of September’s overall total. Spare a moment to say a prayer for Yahoo Fantasy Sports, which reported a net loss of over $12k from its Pennsylvania operations last month.

Meanwhile, Monday saw the PGCB begin accepting applications from so-called ‘qualified gaming entities’ for the state’s unissued online gambling licenses. There are a total of 10 product licenses available — four poker, three slots and three casino table games – at the low, low price of $4m apiece or $10m if you want to offer all three products. The PGCB’s window for applications closes October 31.

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