pacomartin
pacomartin
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March 2nd, 2010 at 9:19:38 AM permalink
The population of greater Philadelphia is well over 5 million people. With only 4 casinos dividing up this market, they should make a lot of money. Atlantic City (pop. 1/4 million) is considered to be part of the Philadelphia CMSA, but it is 60 miles away.

Future City of Philadelphia riverfront
Foxwoods managed by Steve Wynn
Sugar House Casino

Racinos in suburbs
Harrah's Chester County
Parx Casino in Bucks County



-Philadelphia, PA--NJ PMSA 5,100,931
--Philadelphia County, PA 1,517,550
--Bucks County, PA 597,635
--Chester County, PA 433,501
--Delaware County, PA 550,864
--Montgomery County, PA 750,097
--Burlington County, NJ 423,394
--Camden County, NJ 508,932
--Gloucester County, NJ 254,673
--Salem County, NJ 64,285
Niblick
Niblick
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March 3rd, 2010 at 11:13:01 AM permalink
Don't forget about Delaware Park. I think you could probably include the population of Wilmington, DE into the Philadelphia number.

I wouldn't argue it though if you disagree.

It never ceases to amaze me that now, when my wife and I make our weekly trek from our home in the Poconos to our weekend place in Delaware, we drive within 20 miles of eight casinos (Mount Airy, Mohegan Sun, Sands-Bethlehem, Parx, Harrahs-Chester, Delaware Park, Dover Downs, and Harrington). Just a few years ago, there were none.

And Pennsylania was the state with the blue laws vehemently opposed to gambling in the Poconos.

And now, we can add the Foxwoods and Sugar House into the mix. Can you shed any light as to what is going on with these two? Now, I hear the name Wynn is being associated w/Foxwoods (at first, it was going to be downtown but now I hear it's going to be off the Delaware River in between Sugar House and Harrah's). Are there money issues? Political issues?

Sugar House seems to be proceeding but the other one doesn't seem to be going so well.
Nemo Omnibus Horis Sapit
pacomartin
pacomartin
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March 3rd, 2010 at 12:26:13 PM permalink
There is something that the census bureau calls the Philadelphia Combined Metropolitan Statistical Area which includes Atlantic City, and Wilmington and parts of northern Maryland. I was defining the Primary Metropolitan Area. It would add another million people.

354,878 Atlantic--Cape May, NJ PMSA
146,438 Vineland--Millville--Bridgeton, NJ PMSA
586,216 Wilmington--Newark, DE--MD PMSA
= 1,087,532

Sugar House began construction in August. They will have a hotel, but it is going for a very casual industrial theme (much like Bethlehem Sands).

Foxwoods tried to move the second casino to the Strawbridge and Clothier right downtown, only three blocks from city hall. The mayor supported the idea, but the major tenant in the building objected. When they relocated back to the waterfront by the bridge, Foxwoods couldn't get the financing. With Wynn as a partner they think that the project will get financing, but initially without a hotel. Steve Wynn is naturally interested in getting some of the 5 million people in Philadelphia area to join his loyalty program, and then bring the biggest gamblers to Las Vegas where the tax rate is very low. Steve Wynn is promising a charming casino, but it he hasn't built a place for such little money since he remodeled Golden Nugget in downtown Vegas in the 1970's. But people have been stuffing those machines in PARX in Bucks county. Every slot machine in that casino makes more money than a Megabucks machine on the strip.

I grew up in Bethlehem PA, and it is shocking to see ultra-conservative Pennsylvania embracing gambling with such gusto. We'll see an Amish themed casino before long.

I can't believe that New Jersey will continue to watch it's casino industry vanish. It has one of the most extensive transit networks in the country. They may not want to cut Atlantic City throat by putting casinos in Camden region, but what about northern Jersey and New York City?

I am betting on a casino in MetroPark . Why not use the trains that carry NJ people to work in New York City during the day, to carry New Yorkers to a casino at night? Metropark is about 20 miles from Manhattan.
pacomartin
pacomartin
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March 20th, 2010 at 6:40:45 AM permalink
Las Vegas strip peaked at $3.514 billion in October 2007 for slot revenue and is at $2.795 billion in January 2010. It is possible for Pennsylvania to pass the Vegas strip with only 9 casinos open, but it is more likely when one of the two downtown Philadelphia casinos opens.

It is essentially impossible for PA to surpass the Vegas strip in table games, but in slots, it is possible that PA will be the leader inside two years.

That may not be a fair comparison, as there are many slots in Nevada outside of the Vegas strip (Laughlin, Boulder Strip, Mesquite, Downtown, around the city of Vegas, Reno, Sparks, Tahoe, Carson City, and Wendover). However it is still significant.

PA is on track to surpass NJ.
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