Date of Publication: November 2013
Synopsis: Slots revenues in the Commonwealth have been trending lower in 2013 than in 2012. In fact, for ten of the last twelve months, statewide slot revenues were less than they were for the same month the year before (November 2012 and October 2013). While positive, both months showed increases of less than one half of a percent. One casino enjoying success in 2013 is the Pittsburgh based Rivers Casino as it has had positive increases to its year-over-year revenues in eight of the past twelve months.
Data Snapshot: Statewide slots gross terminal revenues (in millions): 2009-2013
*Projection based on the first ten months.
Forecast: In every year, except 2011, at least one new casino debuted bringing the state total to twelve. There remains only one unfulfilled license, for a harness track in Lawrence County, and it is unclear if and when it will be used. There are a number of potential explanations for the recent decline such as increased competition from neighboring states Ohio and Maryland, the advent of table games, and the increasingly sluggish job creation statewide have undoubtedly played a role. With so much state and local gambling tax revenue riding on slots play, the decline is not a welcome development.