Of the 4 casinos located in the Philadelphia-area, 3 of them saw year over year revenue growth. In all, the state of Pennsylvania saw its casinos have a year to remember in 2016. This should not come as too much of a surprise after hearing the revenue numbers from just South of the border, in Maryland. The state below the Mason-Dixon line had a pretty successful 2016 and the Mid-Atlantic United States, as a whole, did well too.
No matter if we are talking about Pennsylvania, Maryland, or any other state, the fact of the matter is that the Eastern parts of the United States are once again becoming gambling hotspots. This time, however, Atlantic City isn’t the only casino option, but rather one of many options.
As for Pennsylvania as a whole, the state’s 12 casinos earned more than $3.2 billion in 2016. This number is up from 2015 by more than 1%. These revenue figures are derived from money put into slot games and that which is used for table game wagering.
Of the 4 casinos in Philadelphia, Parx, Valley Forge, and Sugarhouse all saw year over year increases in revenue. Of these three, Sugarhouse took top-billing and saw the largest annual increase in revenues. In 2016, Sugarhouse saw revenues of $297.7 million, which is almost 11% better than what was recorded in 2015.
If we are talking about the Philadelphia casino that brought in the most total revenue, that spot would be taken by Parx Casino, located in Bensalem, just outside of Philadelphia. Parx brought in more than $551 million in 2016, a number that was more than 5% better than what was recorded a year earlier. Valley Forge Casino and Resort, on the other hand, is not only the Philadelphia-area casino that accounts for the nominally smallest amount of revenue, but also saw a year over year increase of just over 1.75%.
As for the one straggler in the Philadelphia region, that title would have to be awarded to Harrah’s Chester, which saw revenues decline by just over 5% in 2016. There are many reasons why this might be so, but the simple fact of the matter is that Chester is not the nicest part of the greater Philadelphia region. With high crime rates, it is believed that many people are, quite simply, taking their business to other casinos in the area.
As we move into 2017 and look to the future, things are looking bright for Philadelphia casinos. There are only 4 that exist right now, but the construction of another casino is currently being discussed. Philadelphia is quickly becoming one of the top gambling destinations in the region. Being more convenient for many people, the existence of more and more casinos in the Philadelphia region is something that is doing Atlantic City casinos no favors at all. As we move forward, it will be interesting to analyze how Philadelphia casinos are having a direct impact on the stability of the Atlantic City casino industry.