Crunching The Numbers On SugarHouse’s First Month

October 25, 2010 6:27 AM

(credit: KYW’s Mike DeNardo)

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HARRISBURG (CBS) - SugarHouse Casino, a month after it opened, had a strong launch while apparently affecting one neighboring casino more than the other.

It needs to be stated that the numbers are very preliminary, but KYW Newsradio has analyzed data for gross terminal revenue — revenue generated by slot machines after payouts and before taxes — supplied by the Pennsylvania Gaming Control Board.

The analysis shows that revenue for Parx Casino, in Bensalem (Bucks County), was actually up more than three percent for the first three full weeks that SugarHouse was open, compared to the same time frame a year ago.

Harrah’s, in Chester, wasn’t as lucky, with revenues down more than 12 percent.

SugarHouse’s gross terminal revenues are among the lowest in Pennsylvania. However, operating in an interim facility, SugarHouse also has the fewest slots. On a per-machine basis, SugarHouse’s revenues rank among the top casinos in the state.

Reported by Tony Romeo, KYW Newsradio.

Crunching The Numbers On SugarHouses First Month

Paul Boni

This is a misleading news story. SugarHouse’s revenues have been dropping week-to-week. A better angle would be to compare the actual revenues to the predicted revenues (announced when the state pitched the casinos in the first place). Hint: SugarHouse is pulling in less than half of the predicted revenue. . . even without having a second casino in town! It’s an utter failure.
http://www.philebrity.com/2010/10/25/this-moment-in-drifterhouse-in-your-face-chester/ :::Philebrity…media, culture, music and more::: » Blog Archive » This Moment In DrifterHouse: In Your Face, Chester!

[...] for both card-counting off-duty cops and leaving your kids in your car. And who did take a hit? Harrah’s Chester! Business was down at the casino as locals flocked to SugarHouse instead, giving lie to the widely [...]