Economy not hurting Pennsylvania slots

Pennsylvania’s young casinos are competing quite well against the big boys. Comparing ’gross terminal revenues’ in October with those from October 2007, Pennsylvania casinos are slightly ahead, about 3 %.

When Pennsylvania officials legalized slots parlors in mid-2004, some skeptics wondered how Keystone State casinos could ever compete with glitzier, better-known gambling meccas such as Las Vegas and Atlantic City.

That may not sound like much, but it’s a lot better than sharp declines in revenue in New Jersey and Nevada, gaming officials say.

That 3 gain is based on the performance of just the five Pennsylvania casinos that were in existence in October 2007, including The Meadows in Washington County. When revenues from two additional casinos that opened later are added in, Pennsylvania casinos show a 30 gain in October over the corresponding month in 2007.

The New Jersey Casino Control Commission recently said that Atlantic City casinos suffered a nearly 10 decrease in revenue in October, compared to a year earlier. The decline in slots revenue was even worse, nearly 13 , while table games revenue was down by only 3 %.