Northeast US

Did Foxwoods & Mohegan Sun secretly wish that the future casino saturation in the Northeast was true when Massachusetts passed the gaming law in 2011? Were there hushed discussions over the CT casino water coolers wishing for the repeal of gambling in Massachusetts back then?

Pat one point beginning to believe my post a long time ago about the number of possible casinos in New England may saturate the region.  Well, I have to think that saturation is becoming a real deal – and not only in New England.  In case You haven’t been following her are the number of casinos by state from Maryland north to Maine:

  1. Maryland – Five casinos, one to be added; Began as slots only in 2008, added tables games after 2012.  Revenue numbers increased.
  2. Delaware – Three VLT based casinos at the three pari-mutuel racetracks operated by the Lottery.  Table games added in 2010.  Revenue number in decline.
  3. Pennsylvania – Twelve casinos authorized and built after 2004; Revenue experienced 4% decline last year
  4. New Jersey – Gambling approved in 1976. By end of this year, nine casinos left with three closing it’s doors – might be four if Revel can’t find a buyer; Revenue consistently in decline since early 2000.
  5. New York – Began with change of two Class II Indian Casinos to Class III after 2003.  Since, casino growth continues with presently 21 casinos with 7 more licenses to be habded out.  Indian Class III casinos have the only slots, the rest in NY are VLT that act like bingo terminals.  resorts World continues to have one of east’s highest grossing revenues.
  6. Connecticut – Began Class III gaming with two casinos – Two casinos – Foxwoods in 1994 & Mohegan Sun in 1996.  Since recession of 2007, experienced constant spiral in revenue declines; two more casinos possible with two other tribes fighting for recognition.
  7. Rhode Island – Two Casinos – Twin River (with table games) and Newport Grand (slots only).  referendum in November for expansion on Newport casino.
  8. Massachusetts – Four licenses to be handed out with a possible addition of Mashpee Wampanoags in Southeastern region.  November Vote may repeal gambling law of 2011.
  9. Maine – Two casinos opened, Hollywood in 2005 and Oxford in 2012 – both class III.  One class II Indian Casino.

So, the math is a little weird with all the closings, possibilities, votes, etc.  The count seems to a whopping at this time is 56!   with + or – …………….well, we’ll just wait and see.

Scott Calvert and Jon Kamp an their article in the Wall Street Journal said “Twenty-six casinos have opened since 2004, fueling a 39% increase in total annual gambling revenue in the mid-Atlantic and New England, according to a study by the University of Nevada, Las Vegas. Within 100 miles of Philadelphia, there now are 24 casinos, a big shift from the early 1990s, when Atlantic City, N.J., enjoyed an East Coast monopoly. At least a dozen more gambling spots are in the pipeline from Massachusetts to Maryland, raising fears in states such as Rhode Island that their casino tax windfall is at risk.”  The article is outstanding.   check it out at http://online.wsj.com/articles/casino-boom-pinches-northeastern-states-1403220428

 

Is there saturation?  You bet! (no pun intended)  As in Atlantic City, it could mean survival of the fittest until a manageable amount is seen.  But that won’t be until the expansion hysteria ends many years from now.

That’s all for now.

Binbin

 

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