The Pennsylvania Gaming Control Board is holding a meeting Tuesday in Philadelphia to decide about the 2nd gaming license. The 4 remaining applicants are awaiting this decision. The existing 4 operators are also concerned. Market conditions indicate that gaming revenue is not at a premium on the east coast. But the board has the final say in this. So I decided to set a betting line as to who the odds favor in this process.
Philly Live has an impressive track record(Maryland Live). Live has partnered with Parx Casino and both have strong numbers in their respective markets. Great location near stadiums. They will have a synergy with Xfinity Live. A existing hotel site in place. 2-1
Casino Revolution has a location near the stadiums and is accessible to major highways. I-95 and Delaware Avenue come to mind. They have plans to develop an amusement park that will cater to families. They state they can open faster than any other applicant (15 to 18 months). 3-1
Market Eight has the development of the center city Gallery area to draw on. Major stores that cater to millennials are part of this renaissance. This group has the most disposable income. Easy access by public transportation. They are located near major hotels and the convention center. 4-1
The Provence has the most original design of the 4. They plan to have a international flavor to their casino. Note the name. They 'll have a spa and world class restaurants. This will appeal to the business clientele that surrounds them in the heart of center city. 4-1
The Board could also differ a decision until 2015 when Governor -elect Tom Wolf can weigh in. They are politically appointed and able to vote without responding to the influence from the governor's office. 7-1
The Gaming Board could also look at the state of gaming on the east coast and feel that the region is not ready for another casino. This would maintain the balance that currently exist. Each existing operator has it's own niche. Harrah's Philly has the Total Reward brand that works nationally. Parx and Valley Forge have the outlying areas of Philadelphia and the suburbs to draw from. SugarHouse Casino has the prime location and is approximately 10 minutes away from center city.
Odds of not granting a license to anyone. Even Money.
Odds of not granting a license to anyone. Even Money.
You can't bet these propositions anywhere but you can talk about them everywhere.
What do you think will happen?
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