Georgia Gaming Market Assessment - Pennsylvania Treasury
Georgia Gaming Market Assessment - Pennsylvania Treasury
Georgia Gaming Market Assessment - Pennsylvania Treasury
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The Rivers<br />
The Rivers Casino is located near downtown Pittsburgh. It lies along the riverbank, within a few<br />
minutes of Heinz Field and PNC Park. The Rivers offers nearly 3,000 slots and over 100 table<br />
games, as well as 5 restaurants, 3 bars, and live music across 3 venues. The Rivers offers a bus<br />
program to transport customers from 16 cities in Ohio and 14 cities in <strong>Pennsylvania</strong>. The Rivers<br />
has seen tremendous growth in the first four months of 2011. Slot revenue is up nearly 18.5%<br />
over 2010, while total revenue is up more than 46%, which can be attributed to the ramp up<br />
period and management changes the facility experienced through 2010. Win per Slot and Win<br />
per Position have increased more than 20% over 2010. The Rivers performance is summarized<br />
in the table below.<br />
Year Slot<br />
Revenue<br />
Slots Win Per<br />
Slot<br />
The Rivers Historical Performance<br />
Tables Table Revenue Win Per<br />
Table<br />
Total Revenue WPP<br />
2009 $78,750,383 2,999 $178.61 0 $0 $0 $78,750,383 $178.61<br />
2010 $241,961,164 2,920 $227.04 86 $25,693,809 $1,964.13 $267,654,973 $213.62<br />
Jan 2011 $20,173,212 2,941 $221.26 86 $4,646,280 $1,742.79 $24,819,492 $231.59<br />
Feb 2011 $22,722,427 2,893 $280.50 96 $5,540,439 $2,069.80 $28,262,866 $291.17<br />
Mar 2011 $24,311,676 2,953 $265.58 104 $5,548,123 $1,717.58 $29,859,799 $269.19<br />
Apr 2011 $24,168,710 2,954 $272.70 107 $5,773,592 $1,798.63 $29,942,302 $277.54<br />
Jan-Apr 2010 $77,169,824 2,998 $214.39 0 $0 $0.00 $77,169,824 $214.39<br />
Jan-Apr 2011 $91,376,025 2,935 $260.01 98 $21,508,434 $1,832.20 $112,884,459 $267.37<br />
% Change 10-11 18.41% -2.09% 21.28% N/A N/A N/A 46.28% 24.71%<br />
Source: <strong>Pennsylvania</strong> <strong>Gaming</strong> Control Board; Innovation Group<br />
Nemacolin Woods<br />
Isle of Capri is not scheduled to open the Nemacolin Woods casino prior to January 1, 2013.<br />
This is a category 3 license, which is limited to a maximum of 600 slot machines. Nemacolin<br />
Woods is approximately 90 minutes southeast of Pittsburgh. As of this date Nemacolin has yet<br />
to submit its patron of amenities plan. It is considered likely that the plan will be subject to<br />
challenge, resulting in delays in developing and opening the facility. Moreover, the <strong>Gaming</strong><br />
Control Board’s decision to award the license to Isle of Capri/Nemacolin has been appealed to<br />
the state supreme court, thus creating legal uncertainty about the status of the license. However,<br />
for the purpose of this analysis the facility has been included in the modeling.<br />
Erie <strong>Market</strong><br />
Presque Isle Downs<br />
Presque Isle Downs and Casino is located in Erie off Interstate 90, 20 minutes from the Erie<br />
International Airport and 15 minutes from downtown Erie. There is live racing at the facility<br />
from May through September and simulcast throughout the year. Presque Isle has offered 2,000<br />
slots since opening in 2007 and now has nearly 50 table games. The facility also includes 4<br />
restaurants, 2 bars, and offers live music each weekend. Presque Isle has partnered with 16 bus<br />
companies to provide transportation for customers from major cities such as Cleveland, Toronto<br />
The Innovation Group Project #054-11 August 2011 Page 29
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