More bad numbers at Harrah's

Uh-oh. Don’t look now, but there are storm clouds forming over the rosy picture that the state consistently paints when it comes to the grand expansion of legalized gambling in those swanky slots parlors.

The state Gaming Control Board put out a press release yesterday hailing the fact that revenue generated at the state’s nine casinos was up 19.8 percent in August 2009 over the same period last year.

But a big part of that is because there are more casinos online now than last year, especially the big Sands Casino Resort in Bethlehem.

What the state did not stress is that while the total take is up, revenue at five of the nine slots parlors was actually down.

And once again that includes Harrah’s Chester Casino & Racetrack, where revenue was off 10.8 percent in August compared to the same month last summer.

That continues a troubling trend of declining revenue at Harrah’s, which has been lagging behind previous years numbers for months now. But the
10.8 percent dip is the biggest decline yet. No one is talking about why the numbers are down. Harrah’s usually has little to say when we ask about their numbers.

Don’t feel too bad for them. They’re still raking in big bucks. They just didn’t take in as much in August as they did last year. The Chester slots parlor reported revenue of $25,709,960. That compares to
$28,831,904 last year.

And Harrah’s was not alone. The numbers also were off at Philly Park in Bucks County, where revenue was down 4.04 percent. It was the same song at Mohegan Sun at Pocono Downs, down 4.92 percent; Presque Isle Downs and Casino, down a hefty 12.23 percent; and Mount Airy Resort and Casino, down a whopping 19.19 percent. The state’s two newest casinos, the Sands Casino Resort Bethlehem and Rivers Casino, were not open last year.

Overall state gambling revenue was up, totaling $186.9 million, up 19.8 percent from $156.1 million in August 2008, but that number was bolstered by the two new casinos.

In all, only two of the seven casinos that were in operation showed gains this August, those being the Meadows, up 15.66 percent, and Hollywood Casino at Penn National, up 10.59 percent.

Harrah’s Chester still ranks second in the state in total slots revenue, trailing only Philly Park.

But I still wonder why the numbers continue to trend down, in particular at Harrah’s.

Is it the general economy? Is it people returning to Atlantic City to gamble and take in the shore during the summer?

Harrah’s dodged a bullet last week when the courts knocked down a plan in Delaware to allow legalized wagering on sports.

Still, there appears to be storm clouds over Harrah’s, as well as the state’s other two casinos.

Eventually two new casinos are going to go online in Philadelphia, which will further cut into Harrah’s turf.

Pennsylvania is about to give the go-ahead for table games at the slots parlors. It will be interesting to see if that reverses the downward numbers.

Right now, slots gambling continues to be a winning bet in Pennsylvania, but someone needs to explain to me why these numbers continue to go down.

Anybody have any ideas?

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