English: Pennsylvania county map (Photo credit: Wikipedia)
When it comes to gambling meccas, you might want to start counting Pennsylvania among them.
Pennsylvania casinos generated more tax revenue last year than those in any other state and more gross revenue than any state but Nevada, according to a national American Gaming Association report released Monday.
The “State of the States: The AGA Survey of Casino Entertainment” found that the commonwealth’s 11 casinos produced nearly $1.5 billion in tax revenue in 2012, up 2.1 percent from the previous year. Nevada placed second at $868.6 million and New York third at $822.7 million.
Tuesday’s official announcement that Connecticut-based Mohegan Tribal Gaming Authority, via its consulting arm, Mohegan Gaming Advisors, will assume management of Resorts Casino-Hotel seems to be a case of not seeing the forest for the trees.
It’s certainly big news that the financially beleaguered gaming hall — the oldest legal casino east of Nevada — has exponentially increased its chances for long-term survival via the newly forged partnership with Mohegan Sun (which is pending state regulatory approval), as well as through the recently consummated deal that will turn a sizable portion of Resorts real estate over to Jimmy Buffett’s Margaritaville brand. But there is a much larger picture here.
For all the of the “experts’” braying about Atlantic City’s gambling industry suffering a terminal case of competitionitis, the fact is that AyCee has recently seen a large infusion of investments – upwards of $200 million, not including Revel’s $2.4 billion price tag.
If the town were indeed “dying,” why would such big-time outfits as Mohegan Sun, Margaritaville and Golden Nugget expend so many resources, financial and otherwise, on the seaside resort? We can assume the folks running these companies are not completely clueless and incompetent. Which leaves the possibility that the smart money sees a rosy future for Atlantic City as a big-time destination.
Dollar General Corporation of Goodlettsville, TN is actually thriving during the recession. Unlike many businesses, Dollar General is expecting to hire 6,000 new employees and open 625 new stores this year. I doubt we will be seeing many other chains announcing such large-scale expansion plans for 2011.
Dollar General operates 9,200 stores in 35 states. The expansion will add three more states to that list. Residents of Nevada, New Hampshire and Connecticut will soon be getting stores near them!
The Pottstown area has two Dollar General stores located in the North End Shopping Center and Stowe Crossing.
According to research compiled by the Morning Call in Allentown; Pennsylvania wins first prize in the amount of revenue collected from gambling taxes.
Okay, that’s Jim Dandy….what did we do with the $1.1 BILLION dollars collected from our 9 casinos in 2009? Did we make origami?
This money was supposed to help with property tax relief and a host of other things. Instead, we pretend we have $850,000,000.00 from the federal government in our 2010/2011 budget and our state unemployment compensation fund is bankrupt.
What the hell? Am I missing something here? That’s a HUGE chunk of money. What did we spend it on? Root beer floats and pork projects?