Taken together, total casino revenue was down less than one percent year-over-year for the month.
October was only the third time Pennsylvania’s casino industry posted a YoY decline, and two of those months, October and June, saw revenue dip by less than one percent. September had been a month of solid growth.
The top line October numbers
For Pennsylvania casinos, October was a tale of two revenue streams. On the one hand, table game revenue jumped by five percent industry-wide. On the other hand, slot revenue at the state’s 12 casinos dropped by three percent.
Taken together, total casino revenue was down less than one percent year-over-year for the month. October was only the third time Pennsylvania’s casino industry posted a YoY decline, and two of those months, October and June, saw revenue dip by less than one percent.
The top line October numbers
October revenue was relatively static at nine of the state’s casinos, ranging between -5.26 percent and +2.11 percent.
The two Philadelphia area casinos, SugarHouse and Harrah’s, continued to move in opposite directions. SugarHouse’s total monthly revenue jumped almost 19 percent. Harrah’s experienced yet another month of double-digit revenue decline, as total revenue dropped by 11.5 percent year-over-year.
Here were the three outliers in October:
- SugarHouse Casino: +18.74 percent
- Harrah’s: -11.52 percent
- Lady Luck: -10.93 percent
Here’s a look at the industry-wide breakdown of slot revenue and table game revenue in October:
- October 2016 slot machine revenue: $191,850,596.41 (-3.04%)
- October 2016 table game revenue: $71,161,384 (+5.35%)
A look inside the YTD revenue numbers
Here is a look at the monthly year-to-date revenue tally for Pennsylvania’s casinos:
- January 2016 GGR -$255,905,078 (+3.6%)
- February 2016 GGR – $268,354,231 (+8.6%)
- March 2016 GGR – $289,167,505 (+4.2%)
- April 2016 GGR – $281,206,497 (+3.9%)
- May 2016 GGR – $280,194,999 (+.80%)
- June 2016 GGR – $258,423,105 (-0.2%)
- July 2016 GGR – $288,451,402 (+2.95%)
- August 2016 GGR – $260,904,471 (-4.28%)
- September 2016 GGR – $260,937,476 (+2.93%)
- October 2016 GGR – $263,011,981 (-.91%)
Historical look at casino revenue in Pennsylvania
Pennsylvania is on pace to beat its previous high-water mark, set last year when the state’s casinos tallied $3.17 billion. Through 10 months, the state’s casinos have tallied $2,707,483,445. Historically, Pennsylvania can expect November and December to add $520 million or more to its tally.
- 2006: $31,567,926
- 2007: $1,039,030,723
- 2008: $1,615,565,758
- 2009: $1,964,570,480
- 2010: $2,486,408,061 (table games introduced)
- 2011: $3,024,772,959
- 2012: $3,158,317,863
- 2013: $3,113,928,591
- 2014: $3,069,077,597
- 2015: $3,173,787,012
A casino-by-casino look at the numbers
- Slot revenue, October 2016: $25,057,866.26 (+2.17%)
- Table game revenue, October 2016: $16,828,699 (-10.34%)
After out-pipping Parx for two months, Sands Bethlehem has fallen behind Parx as the top revenue-producing casino for the third consecutive month in October. More troubling for Sands is the amount by which Parx was able to outpace it in October, some $2.5 million.
A lot of ground was ceded on the table game side, as Sands saw a 10-percent YoY drop, while Parx managed to post a five-percent increase.
With the North Jersey casino referendum failing, and with online gambling legislation on hold until 2017, Sands is likely to forge ahead with an expansion project designed to bolster its already best-in-the-industry table game offerings.
- Slot revenue, October 2016: $31,807,584.58 (+.98%)
- Table game revenue, October 2016: $12,772,722 (+5.04%)
Thanks to gains in both slot and table game revenue, Parx is once again the clear top dog in the market. One of the few casinos to post slot and table game revenue gains, Parx is no doubt very pleased with its October numbers.
- Slot revenue, October 2016: $14,926,311.14 (+5.22%)
- Table game revenue, October 2016: $10,657,745 (+44.82%)
What SugarHouse has done throughout 2016 is downright remarkable.
The Philadelphia casino went all-in on an massive expansion project (completed earlier this year) that has propelled it up the revenue charts. SugarHouse is on the verge of overtaking Rivers Casino (a sister property owned by SugarHouse’s parent company Rush Street Gaming) as the third highest grossing casino in Pennsylvania, and is also within striking distance of Parx when it comes to table game revenue.
If SugarHouse goes through with a planned second expansion project (which would, among other things, add a hotel), it will likely find itself challenging Parx and Sands.
- Slot revenue, October 2016: $21,632,607.36 (-5.05%)
- Table game revenue, October 2016: $6,312,487 (+11.17%)
The gap between Rivers and SugarHouse is closing, but Rivers still has a veritable monopoly on the Pittsburgh area, which should allow Rivers to keep pace. October was a good news/bad news month for Rivers. Slot revenue was down five percent YoY as table game revenue jumped more than 11 percent.
- Slot revenue, October 2016: $16,857,930.53 (-9.24%)
- Table game revenue, October 2016: $5,434,645 (-17.91%)
It’s hard to envision Harrah’s having a worse October.
Not only did its regional rivals see revenue jumps, but Harrah’s revenue was down significantly across the board, as the casino posted a near 10-percent decline in slot revenue and a staggering 18-percent drop in table game revenue.
Mohegan Sun at Pocono Downs
- Slot revenue, October 2016: $17,018,525.36 (-6.39%)
- Table game revenue, October 2016: $4,603,835 (+20.29%)
Like several other Pennsylvania casinos, Mohegan Sun saw slot revenue drop and table game revenue rise in October.
Mount Airy Casino Resort
- Slot revenue, October 2016: $11,647,663.22 (+.76%)
- Table game revenue, October 2016: $3,782,901 (-1.56%)
Mount Airy had a very even October. Slot and table game revenue fluctuated very little year-over-year, and Mount Airy was one of only a handful of casinos that could boast positive slot revenue for the month.
Valley Forge Casino Resort
- Slot revenue, October 2016: $6,374,220.05 (-2.72%)
- Table game revenue, October 2016: $3,386,312 (+12.14%)
Valley Forge followed the industry’s October trend, with slot revenue down and table game revenue on the ascent.
The Meadows Casino
- Slot revenue, October 2016: $18,023,978.85 (-6.86%)
- Table game revenue, October 2016: $3,028,774 (+39.59%)
Sensing a pattern yet? Meadows also saw slot revenue dip and table game revenue rise, but in this case, the table game gains were quite substantial, as YoY revenue was up nearly 40 percent.
Presque Isle Downs and Casino
- Slot revenue, October 2016: $9,405,960.82 (-5.41%)
- Table game revenue, October 2016: $2,886,859 (+8.68%)
Presque Isle was yet another casino with declining slot revenue and rising table game revenue. Even with nearly nine-percent YoY growth on the table game side of the ledger, Presque Isle was down significantly in total casino revenue.
Hollywood Casino at Penn National
- Slot revenue, October 2016: $16,795,712.74 (-7.30%)
- Table game revenue, October 2016: $1,051,801 (+6.30%)
Hollywood Casino had a bad month of slot machine handle, with revenue down more than seven percent YoY. Modest gains on the table game side helped mitigate the slot revenue decline.
Lady Luck Casino Nemacolin
- Slot revenue, October 2016: $2,302,235.50 (-11.34%)
- Table game revenue, October 2016: $414,603 (-8.59%)
Lady Luck wasn’t able to keep pace with its competitors in the market, as both table game and slot revenue fell significantly in October.