Georgia Gaming Market Assessment - Pennsylvania Treasury

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Pennsylvania Statewide Gaming Market Assessment Table of Contents INTRODUCTION......................................................................................................................... 1 ECONOMIC AND DEMOGRAPHIC ANALYSIS .................................................................. 3 POPULATION ................................................................................................................................ 4 Total Population ..................................................................................................................... 4 Gamer Population ................................................................................................................... 5 INCOME ........................................................................................................................................ 5 National and Regional Trends ................................................................................................ 6 Regional Income ..................................................................................................................... 7 EMPLOYMENT .............................................................................................................................. 9 National Trends ...................................................................................................................... 9 Regional Labor Force ........................................................................................................... 10 Major Employers .................................................................................................................. 12 TOURISM .................................................................................................................................... 13 PENNSYLVANIA GAMING .................................................................................................... 17 OPERATORS ............................................................................................................................... 18 Eastern Region ...................................................................................................................... 18 Western Region ..................................................................................................................... 27 HISTORICAL SLOTS TRENDS AND SATURATION ANALYSIS ................................... 31 STATEWIDE ................................................................................................................................ 31 EASTERN REGION ...................................................................................................................... 34 Philadelphia Submarket ........................................................................................................ 36 Poconos ................................................................................................................................. 38 WESTERN REGION ..................................................................................................................... 41 Pittsburgh Market ................................................................................................................. 43 PENETRATION COMPARISON ...................................................................................................... 44 PERFORMANCE COMPARISON WITH PROJECTIONS FROM 2003 STUDY ....................................... 46 Statewide ............................................................................................................................... 46 Eastern Region ...................................................................................................................... 48 Western Region ..................................................................................................................... 51 COMPETITIVE ENVIRONMENT .......................................................................................... 54 New Jersey ............................................................................................................................ 54 Delaware ............................................................................................................................... 56 New York ............................................................................................................................... 60 Maryland ............................................................................................................................... 62 The Innovation Group Project #054-11 August 2011 Page i
West Virginia ........................................................................................................................ 64 GAMING MARKET ANALYSIS ............................................................................................. 68 METHODOLOGY ......................................................................................................................... 68 MARKET CARVE-OUT ................................................................................................................ 70 MODEL CALIBRATION ................................................................................................................ 72 LOCATION ALTERNATIVES ......................................................................................................... 81 Eastern Region ...................................................................................................................... 81 Western Region ..................................................................................................................... 82 Central Region ...................................................................................................................... 82 FINANCIAL ANALYSIS ........................................................................................................... 84 METHODOLOGY AND RESULTS .................................................................................................. 84 IMPLICATIONS ............................................................................................................................ 88 DISCLAIMER......................................................................................................................... 1089 APPENDIX A – PROPERTY TRENDS ................................................................. ATTACHED APPENDIX B: ALTERNATIVE RESULTS BY MARKET AREA ................... ATTACHED The Innovation Group Project #054-11 August 2011 Page ii
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 $46
Page 12 and 13: Employment Employment is a signific
Page 14 and 15: Impact of Recession: Regional vs. N
Page 16 and 17: are the only private companies in t
Page 18 and 19: Pennsylvania Wilds Vineyards, the L
Page 20 and 21: PENNSYLVANIA GAMING This section su
Page 22 and 23: Harrah’s Chester has become the s
Page 24 and 25: Philadelphia Market The following s
Page 26 and 27: for 1,700 cars. The first phase ope
Page 28 and 29: Mt. Airy Mount Airy Casino Resort i
Page 30 and 31: Western Region The Western Region c
Page 32 and 33: The Rivers The Rivers Casino is loc
Page 34 and 35: HISTORICAL SLOTS TRENDS AND SATURAT
Page 36 and 37: Number of Machines 30,000 25,000 20
Page 38 and 39: Number of Machines 25,000 20,000 15
Page 40 and 41: Slot Revenue ($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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