The Battle for Philadelphia Gaming: Round One

The official opening of Live Casino & Hotel in South Philadelphia expanded the gaming casinos in this region to five. They include Rivers Casino Philadelphia, Harrah's Philadelphia Casino, Parx Casino and Valley Forge Casino and Resort. Each of the existing venues has it's own niche. It was a competive and comfortable environment with 4 players. Philadelphia's population of 1.5 million people can accommodate gaming and entertainment for 4 casinos. Live Casino is betting that 5 casinos can coexist and they will be the premiere destination. 

The revenue in Pennsylvania Gaming dropped by more than 20% in 2020. This was largely due to the closing of casinos due to COVID -19. Traditional land-based casino revenue nearly halved. Pennsylvania's casinos racked up approximately 1,500 closure days, or 33% of the days the casinos would have operated normally. Slot-machine revenue fell by $1 billion to $1.3 billion, while table games revenue fell by $400 million to $500 million. However, internet gambling shot up 17 times from $34 million in 2019 to $566 million, and sports betting more than doubled to almost $190 million.

These numbers give two conclusions. The first is the appetite for online gaming is substantial. There is a tremendous opppotunity because of sports betting to introduce new customers to your gaming operation. The second conclusion is that due to limits on capacity, each of the two casino in Philadelphia is on even ground. The relaxing of the food and beverage restraints will level the playing field equivalent to the venues outside the city limits that were able to continue those operations with safety protocols in place.

So each property in the Philadelphia region has the opportunity to rearraign it's share of the market. Some people see competition as a threat. I look at it as an opportunity to improve your game. Identify your strengths and shore up your weaknesses. Find ways to energize your staff and reconnect with your customers. COVID has made managing a gaming operation extremely challenging. One of the best owners I ever work for told me you can't be afraid to try new stuff. It's time.

                                                                      Time is Now

The challenge is there for all 5 casinos. The bell just rang! It's Round One!

Follow me on Twitter where I discuss #sportsbetting and #gaming entertainment.  Check out my articles in Bettors Insider and in the January edition of Igaming player. 

Tribute to 3 Trail Blazers:

The month of January saw 3 iconic Black trail blazers transition from this earth. In the spirit of Black History Month, I want to acknowledge each of them. 

John Chaney was the legendary coach of Cheyney State and Temple University. Coach Chaney gave opportunities to inner city youthsto play Division One Basketball. He was one of the few coaches that would recruit  prop 48 players that were declared ineligible as freshmen. This rule was later changed because it was found to be discriminatory against black students because of the use of standardize testing that had cultural bias against minorities. Coach Chaney was a father figure to many of his players. He was instrumental in making the Atlantic Ten one of the top conferences in the country. 

Hank Aaron was the home run king of Major League  Baseball. He was able to surpass Babe Ruth record that has stood for decades. As he approved 714 home runs, he was besieged with hate mail and death threats. He kept the mail but never allow it to deter his pursuit of the record. He was playing in the deep South where discrimination was prevalent and a norm. Aaron was named to the MLB Hall of Fame and is still considered one of the best baseball players of all time.

Cicely Tyson was an actress and fashion model. She was known for her portrayal of strong black characters. Tyson refused to play stereotypical roles that demeaned people of color. Her stance cost her money and acting opportunities. Tyson felt it was more important to be a credit to her race and give an example of setting a standard that others could follow. She was nominated for an Oscar, won Emmys and NAACP Image Awards thru out her career that spanned 7 decades. 

If you think you are going threw it, think about the real struggles that these trailblazers went thru. Each of them raise their voices so you could be heard.