Georgia Gaming Market Assessment - Pennsylvania Treasury
Georgia Gaming Market Assessment - Pennsylvania Treasury
Georgia Gaming Market Assessment - Pennsylvania Treasury
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Philadelphia <strong>Market</strong><br />
The following submarket includes the casinos located either in or adjacent to the Philadelphia<br />
metropolitan area. This includes PARX Casino in Bensalem, Harrah’s Chester Downs in<br />
Chester and The Sugarhouse in Philadelphia. Each facility’s performance is measured in the<br />
tables below since 2006 through the first four months of 2011, with a comparison to the first four<br />
months of 2010 as well.<br />
PARX<br />
PARX Casino is located in Bensalem, PA, 15 minutes northeast of Downtown Philadelphia. The<br />
casino is part of the Philadelphia Park Racetrack complex, which includes the horse track and<br />
stables. In January 2010, the development opened its new casino with 3,200 slot machines, three<br />
restaurants and two bars. The casino is a single floor facility with a modern design. The facility<br />
now has just under 3,400 slots, over 160 table games, 6 restaurants, 2 bars, and a night club.<br />
PARX also offers live racing and simulcast throughout the year. There is a parking garage and a<br />
surface parking lot that is vast enough to require a parking lot shuttle service. PARX is<br />
performing well in 2011 as its revenue for the first four months of the year is up nearly 18%.<br />
This is mainly due to table revenue as slot revenue is down 8% from the previous year, a<br />
reflection of the impact of SugarHouse. The table below shows the historical performance of<br />
PARX.<br />
Year Slot Revenue Slots Win Per<br />
Slot<br />
PARX Historical Performance<br />
Tables Table<br />
Revenue<br />
Win Per<br />
Table<br />
Total Revenue WPP<br />
2006 $9,912,892 2,076 $298.44 0 $0 $0 $9,912,892 $298.44<br />
2007 $285,032,169 2,229 $350.30 0 $0 $0 $285,032,169 $350.30<br />
2008 $345,502,693 2,816 $335.21 0 $0 $0 $345,502,693 $335.21<br />
2009 $359,274,246 2,904 $339.01 0 $0 $0 $359,274,246 $339.01<br />
2010 $398,155,075 3,385 $322.24 69 $34,447,042 $3,261.38 $432,602,118 $311.95<br />
Jan 2011 $29,055,856 3,384 $277.01 152 $7,632,095 $1,619.71 $36,687,951 $275.51<br />
Feb 2011 $31,429,989 3,391 $331.02 150 $8,204,005 $1,948.14 $39,633,994 $329.69<br />
Mar 2011 $34,294,736 3,391 $326.24 150 $9,975,829 $2,145.34 $44,270,566 $332.81<br />
Apr 2011 $32,879,018 3,397 $322.63 162 $10,360,023 $2,126.44 $43,239,040 $329.72<br />
Jan-Apr 2010 $139,110,151 3,314 $349.70 0 $0 $0.00 $139,110,151 $349.70<br />
Jan-Apr 2011 $127,659,599 3,391 $314.23 154 $36,171,952 $1,959.91 $163,831,551 $316.93<br />
% Change 10-11 -8.23% 2.30% -10.14% N/A N/A N/A 17.77% -9.37%<br />
Source: <strong>Pennsylvania</strong> <strong>Gaming</strong> Control Board; Innovation Group<br />
Chester<br />
Harrah’s Chester Downs is located in Chester, 17 miles south of downtown Philadelphia. The<br />
facility is located 3 miles from Interstate 95 on the Delaware River. The casino includes a 5/8’s<br />
mile harness horse track, live and simulcast racing facilities, six food outlets, one bar, a small<br />
The Innovation Group Project #054-11 August 2011 Page 21
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