If you live in the northeast, and follow the casino industry, all you read about is expansion, saturation, and competition. Let’s quickly review the often heard headlines (some are true, some exaggerated, and some under-estimated):
Connecticut Casinos are on the verge of losses beyond recovery.
Connecticut casinos are confident of their own way of re-inventing themselves toward New England Relevancy.
Massachusetts Casinos are ready to start the building – with Plainridge Park as it’s only slot parlor ready to open by the fall of 2015.
Massachusetts is still in a mess concerning it’s third full casino license in the Southeastern area.
Connecticut is considering adding casinos/slot parlors to keep residents from going to surrounding states.
New York State is opening three new casinos – sites in Sullivan, Schenectady and Seneca counties – to expand gaming in the state, help economic depressed counties, and not particularly compete with NY’s the native casinos.
New York’s casinos will compete with MGM’s new Springfield Casino – only 90 minutes away from the Catskills.
Steve Wynn continues to find push-back’s in many forms, delaying the clean-up in Everett.
Rhode Island’s two casinos will face incredible competition from MA & CT casinos, possibly causing the closure of Newport Grand (in my opinion)
Atlantic City continues to spiral, although there is some hope, since the remaining casinos have shown profit of late.
Pennsylvania continues to drain off potential gamblers from New Jersey, is adding yet another Philadelphia casino, and yet is still reeling from the new big dog in eastern gambling – Maryland.
And the final news of late – New Hampshire is once again considering adding casino gambling, for the umpteenth time. It’s really comical. Probably because Maine’s two casinos continue to profit at its expense.
And in Maine? – rumor has it that expansion to two more casinos is being considered.
My next post tomorrow will include a report that shows a different story concerning a rise in casino revenue across the country.
Until then, That’s all for Now!