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by: Glenn Haussman.
With the blistering hot Pennsylvania gaming business booming, the state’s legislators are anxious for the numerous hand picked casino operators to either open their temporary casino...
...or switch from the temporary casino to their more upscale and expansive permanent facilities. This week those operators not yet operating in their permanent facility had to report back to the Pennsylvania Gaming Control Board to give a status update on their respective projects.
The state would like these gaming venues to open as quickly as possible since the state is getting the majority of profits from the casinos. Fifty-five percent of every dollar won by casinos is heading right into the state’s coffers in order to boost state revenue and lower its citizen’s property taxes.
Though only a handful of the casinos in the state are open – five of 14 in fact – they have been an incredible success story affecting business in Atlantic City, and at Foxwoods and Mohegan Sun in Connecticut.
According to presentations made this week to the Pennsylvania Gaming Control Board three of the operators, Mohegan Sun at Pocono Downs, Philadelphia Park Casino and Racetrack and The Meadows Racetrack and Casino began operations in temporary facilities either connected to or bordering their current grandstand facility. The other presenters, Hollywood Casino at Penn National, Mount Airy Resort & Casino, and Sands Bethworks will be moving directly into permanent facilities.
Here’s the scoop so far:
• Mohegan Sun at Pocono Downs: Robert J. Soper, President and CEO outlined the carefully constructed design of their facility based on regional elements, their market, and the Mohegan Sun brand. Anticipated opening is late summer 2008.
• Philadelphia Park Casino and Racetrack: David Jonas, COO and General Manager and Robert W. Green, President, informed the Board that they have made progress in the last several months in developing their master plan and should be in a position within two months to present to the Board their proposed plans for a stand-alone permanent facility.
• The Meadows Racetrack and Casino: William J. Downey, Fox Rothschild LLP and Michael Graninger, Vice President and General Manager, referenced a petition which they have submitted Board consideration which seeks approval of a modified site plan for The Meadows' permanent facility which includes a five story, 205-room hotel and an expanded gaming floor, food court and conference center.
• Hollywood Casino at Penn National: J. Gary Luderitz, Vice President & General Manager provided a status report on the construction of their casino and racing facility which is currently more than 50% completed and scheduled to open to the public in the first quarter of 2008.
• Mount Airy Resort & Casino: Owner Louis DeNaples and Joseph D'Amato, CEO reported that they are on track to be the first Category 2 stand-alone casino to open with 80% of the casino and restaurant currently completed. They indicated that Mount Airy is on schedule to commence its gaming operations on October 15, 2007.
• Sands Bethworks: Robert Desalvio, President, told the Board that they are moving forward with plans that will build on the unique history of the Bethworks site, but that redeveloping that brownfield site has slowed their progress due to some unexpected asbestos problems and larger then expected foundations from the old industrial structures. Sands Bethworks is now working towards an opening in the second quarter of 2009.
Also at the meeting, outgoing Board Chair Thomas "Tad" Decker officially passed the gavel to incoming Chair Judge Mary DiGiacomo Colins.
"It is with great pleasure that I have the opportunity to handoff the Chairmanship of this Board to a dedicated and exceptional public servant, Judge Colins" said Decker. "I leave the Board confident that Chair Colins and the other tremendously talented members will continue to ensure that legalized gaming will continue to develop and soon deliver the promise of property tax reform to Pennsylvania".
Through July 30th of this year, Pennsylvania casinos have seen more than $6.2 billion wagered and $5.6 billion paid out as winnings on its 9,968 slot machines. Revenue has totaled more than $548 million with the state getting $301.4 million.
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