Thursday, April 17, 2014

Pennsylvania Casinos: Good News/Bad News

According to a report in the 'Philadelphia Inquirer' table games at Pennsylvania casinos brought in $67.93 million last month.


COMMENTARY
The Good News Is ...
Casino revenues from table games in Pennsylvania last month were a reported $67.93 million dollars. "the highest total since table games began in July 2010"

The Bad News Is...
Gamblers in Pennsylvania last month lost a reported $67.93 million dollars at the table games. "the highest total since table games began in July 2010"



The Good News Is ...
"The state collected $9.8 million in tax revenue from table games.."

The Bad News Is...
"The state collected $9.8 million in tax revenue from table games.." and still raised taxes on gasoline, tolls, fees on vehicle/drivers registrations, etc., etc., etc.



The Good News Is ...
New York State, except for 9 owned by Native Americans, doesn't have any casinos. They only have 9 racetracks.

The Bad News Is...
Albany will soon take applications for four upstate casinos after "voters approved a state constitutional amendment to allow Las Vegas-style casinos beyond Indian land." Two casinos are already "joining forces to pursue a license in New York's Hudson Valley-Catskills region."



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