Pennsylvania-based players have gone through a lot of complicated matters recently and the regulators became aware of their preferences and which casino venues are attractive to them.
However, despite the popularity of the gambling activities in Philadelphia, the revenues remained unstable. Currently, there are four casinos, considered to be major gambling hubs on the territory of Pennsylvania but there is a chance for a fifth one to be established. However, many market analysts expressed their concerns and said that establishment of a fifth one might have a devastating effect on the local economy and on the revenue of the casinos in particular.
Local gambling regulators took the responsibility of dealing with this baffling situation and decide which gambling provider to be awarded with a license that allows them to establish a second casino in Philadelphia.
As a matter of fact, the establishment of another casino hasn’t been a top priority of the regulators since 2010 when Foxwoods took up a casino project but unfortunately it was not too successful.
Now, those who pretend to be quite familiar with the local gambling affairs, claim that the establishment of a second casino will, by all means, have a positive effect on state’s economy – residents will be provided with new job opportunities and respectively, the annual revenue of the state will be boosted.
However, there is anther side of the coin. The new casino facilities might turn out to be unattractive to Philadelphia-located players due to the fact that one casino venue is enough for meeting their needs and providing them with the excitement they are looking for. Some experts even said that’s not the most appropriate time for opening a second casino, bearing the pessimistic situation with the casino closures at the neighboring state – New Jersey.
Alan Woinski, the president of a popular consulting company, said that at this stage, the local economy can hardly handle another casino and warned the managers that soon, they might face up various complicated issues such as staff shortage or even bailout.
The gambling regulators of Pennsylvania are currently reviewing the applications of four companies that have expressed interest in building the second casino in Philadelphia. Two of them proposed the south Philadelphia region to be appropriate for establishing a new casino while others proposed the downtown area. The existing venues that provide gambling facilities are worried about the decision of the regulators. Their representatives said that the market is too saturated and adding another casino wouldn’t lead to anything positive for the state well being.
Although the representatives of the venues remain pessimistic about the new casino project, the applicants are truly convinced that the company that is given a license, would greatly contribute to the local economy since there are many opportunities for further development of the gambling sector.
The Gambling Board regulators have to take their final decision pretty soon but regardless of it, things may change once they are taken to court.
