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PA casinos thriving despite economy

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December 9, 2008

PENNSYLVANIA -- As reported by the Philadelphia Inquirer: "Consumers may be cutting back on buying new clothes or going out to eat, but they haven't scaled back their gambling appetite in Pennsylvania.

"Despite economists' conclusion last week that the United States has been in a recession since December 2007, six of seven casinos in Pennsylvania had nearly a 13 percent increase in revenue last month compared with the year-ago period.

"November slots revenue was $114.7 million, up from $101.6 million in November 2007. The seventh casino, Hollywood Casino at Penn National Race Course in Grantville, opened in February and is not accounted for in the revenue increase.

"...Taxpayers are sharing in the joy. Between Jan. 1 and Nov. 30, all seven casinos contributed $1.32 billion - 55 percent of their total $2.4 billion take - to state coffers, officials said. The money is then plowed into expansion of the Convention Center in Philadelphia, as well as county budgets and local property-tax relief..."

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