Pennsylvania’s Future Slots Parlors Likely to Have Financial Impact on AC Casinos
The East Coast Gaming Congress is scheduled to take place in the next few days. Wall Street gambling analysts and other casino industry insiders expected to attend the event will ponder one question of utmost importance: How will Pennsylvania’s future slot machines influence other states' gaming economy?
Some gambling analysts reportedly predicted that Atlantic City, for example, could lose 5%-8% in annual slots revenues (potentially as much as $30 million), once all Pensylvannia’s proposed slot machine parlors open for business.
In response to the potential drop in slots profits, many Atlantic City gaming facilities initiated expansion projects, aiming to cater to the needs of nongambling customers with a wide range of diverse attractions, such as retail, dining and entertainment complexes at the Tropicana and Caesars casinos slated for openning this summer.
Expansion of gambling activities is taking place up and down the East Coast. Maine this year legalized slot machines, while Florida is about to operate them at racetracks. Maryland, Massachusetts and Rhode Island are also pondering the legalization or expansion of Las Vegas casino-style gambling.
