Georgia Gaming Market Assessment - Pennsylvania Treasury

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Impact of Recession: Regional vs. National Employment (000s) National Pennsylvania Pre-recession 137,951 6,108 Trough 129,588 5,781 % decline -6.06% -5.36% Current 130,989 5,879 % decline over pre-recession -5.01% -3.75% % growth since trough 1.12% 1.70% Source: Bureau of Labor Statistics, CES series, The Innovation Group The following discussion breaks down Pennsylvania employment into 6 MSA’s (Metropolitan Statistical Areas): Allentown-Bethlehem, Erie, Harrisburg, Philadelphia, Pittsburgh, and Wilkes Barre-Scranton. These are the major population centers across Pennsylvania, which also host gaming facilities already. The data is not seasonally adjusted and therefore is compared on a year-over-year basis. Employment data was collected for each year from 2008 through 2010. Overall, Pennsylvania has seen employment in 2010 decline 4.3% from its high levels in 2007. The only market to decline less than the statewide rate was Pittsburgh, which only fell 3.3%. Each of the other markets decreased more than the statewide rate with employment in Erie decreasing the most at 6.1% since 2007. The largest year-over-year decline in each MSA occurred from 2009 to 2010, echoing the effects of the financial crisis. The Innovation Group Project #054-11 August 2011 Page 11
Pennsylvania Civilian labor force Average Annual Unemployment Statistics Employment Unemployment Unemployment rate (%) 2008 6,438,632 6,095,678 342,954 5.30% Absolute Change (Employment) % Change (Employment) 2009 6,383,115 5,869,594 513,521 8.00% -226,084 -3.70% 2010 6,340,034 5,791,061 548,973 8.70% -304,617 -5.00% Allentown – Bethlehem MSA 2008 422,770 399,144 23,626 5.60% 2009 421,864 385,223 36,641 8.70% -13,921 -3.50% 2010 418,712 379,388 39,324 9.40% -19,756 -4.90% Erie MSA 2008 141,633 133,628 8,005 5.70% 2009 139,522 127,091 12,431 8.90% -6,537 -4.90% 2010 138,388 125,445 12,943 9.40% -8,183 -6.10% Harrisburg MSA 2008 288,335 275,199 13,136 4.60% 2009 285,938 265,544 20,394 7.10% -9,655 -3.50% 2010 281,634 259,609 22,025 7.80% -15,590 -5.70% Philadelphia MSA 2008 2,999,691 2,839,410 160,281 5.30% 2009 2,986,036 2,739,108 246,928 8.30% -100,302 -3.50% 2010 2,955,610 2,689,375 266,235 9.00% -150,035 -5.30% Pittsburgh MSA 2008 1,226,257 1,163,676 62,581 5.10% 2009 1,220,033 1,130,669 89,364 7.30% -33,007 -2.80% 2010 1,212,591 1,115,195 97,396 8.00% -48,481 -4.20% Wilkes Barre – Scranton MSA 2008 284,265 266,934 17,331 6.10% 2009 282,173 257,705 24,468 8.70% -9,229 -3.50% 2010 279,518 252,455 27,063 9.70% -14,479 -5.40% Source: Bureau of Labor Statistics, The Innovation Group Major Employers The following list includes the top 50 employers in the state of Pennsylvania. The top 10 includes 5 government employers and 3 education employers. Wal-Mart and Giant Food Stores The Innovation Group Project #054-11 August 2011 Page 12
Page 2 and 3: Pennsylvania Statewide Gaming Marke
Page 4 and 5: INTRODUCTION The Innovation Group w
Page 6 and 7: ECONOMIC AND DEMOGRAPHIC ANALYSIS A
Page 8 and 9: Pennsylvania Total Population Regio
Page 10 and 11: $54,000 $52,000 $50,000 $48,000 $46
Page 12 and 13: Employment Employment is a signific
Page 16 and 17: are the only private companies in t
Page 18 and 19: Pennsylvania Wilds Vineyards, the L
Page 20 and 21: PENNSYLVANIA GAMING This section su
Page 22 and 23: Harrah’s Chester has become the s
Page 24 and 25: Philadelphia Market The following s
Page 26 and 27: for 1,700 cars. The first phase ope
Page 28 and 29: Mt. Airy Mount Airy Casino Resort i
Page 30 and 31: Western Region The Western Region c
Page 32 and 33: The Rivers The Rivers Casino is loc
Page 34 and 35: HISTORICAL SLOTS TRENDS AND SATURAT
Page 36 and 37: Number of Machines 30,000 25,000 20
Page 38 and 39: Number of Machines 25,000 20,000 15
Page 40 and 41: Slot Revenue ($MM) $1,000 $900 $800
Page 42 and 43: Slot Revenue ($MM) $700 $600 $500 $
Page 44 and 45: Western Region Presque Isle was the
Page 46 and 47: Pittsburgh Market The Pittsburgh Ma
Page 48 and 49: Population/Slot Supply Ratios Adult
Page 50 and 51: Statewide Machine Development: 2003
Page 52 and 53: Eastern Region Performance: 2003 Re
Page 54 and 55: Poconos+BethSands: 2003 Report vs.
Page 56 and 57: With an aggressive marketing and bu
Page 58 and 59: Atlantic City currently offers appr
Page 60 and 61: number of slots from 1998 to 2008,
Page 62 and 63: to include a minimum of three games
Page 64 and 65:
Yonkers Gaming Performance Year Rev
Page 66 and 67:
Hollywood Casino and Ocean Downs Cu
Page 68 and 69:
West Virginia Statewide Table Perfo
Page 70 and 71:
Poker Revenue West Virginia Table P
Page 72 and 73:
gamer visits thus generated are the
Page 74 and 75:
The Innovation Group Project #054-1
Page 76 and 77:
The following table shows the rates
Page 78 and 79:
Baseline 2010 ($MMs) Eastern Alt. S
Page 80 and 81:
2014 Status Quo ($MMs) Eastern Alt.
Page 82 and 83:
The table on the following page sho
Page 84 and 85:
Location Alternatives As shown on t
Page 86 and 87:
limited individual potential, its i
Page 88 and 89:
• LARGE o $250.0 million + in gam
Page 90 and 91:
These were then input into a financ
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Georgia Gaming Market Assessment - Pennsylvania Treasury

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