Pocono Downs casino is a winner

By TOM KANE

PLAINS TOWNSHIP, PA ¾ The newly opened Mohegan Sun Casino at Pocono Downs Raceway brought in $39.3 million during its first week of operation.

Pocono Downs is located in Plains Township, in Luzerne County, on Route 315 between Scranton and Wilkes-Barre.

Of the $39.3 million take, gamblers won back $35.3 million as the machines have been paying out an average of 90 cents on every dollar waged, according to casino officials.

Of the $4.08 million left in the machines after all the winnings were paid out, the state has taken $1.4 million for property tax relief, $163,000 for local government, $204,000 for economic development and tourism and roughly $490,000 for the state’s horse racing industry, according to figures provided by the state Department of Revenue. That left the casino with weekly slots revenues of $1.83 million, before operating expenses.

Few expect the casino to keep up that pace.

Roughly 16,000 people came through the doors on November 21, the first day the facility was opened to the public.

The facility, which is the first slots parlor in Pennsylvania, has 1,100 slot machines at a temporary facility at the raceway. Originally, 3,000 machines are planned for the site when a new facility will be completed in approximately 14 months. The new construction will also include three full-service restaurants, a 300-seat buffet, a 15,000 square foot food court, several bars and lounges, an 18,000 square-foot nightclub, a “Kid’s Quest” center, 20,000 square feet of retail space, new parking facilities and an enhanced employee service area.

Estimated cost of the construction is between $140 and $160 million.

The Mohegan Sun Company operates another successful casino in Connecticut.

Philadelphia Park is expected to open the next slots parlor in the state in late December, followed by Chester Downs in Chester, PA in January 2007.

Monticello Racino comparison

Since opening on June 30, 2004, Monticello Gaming and Raceway, known as the “Racino,” has contributed more than $89 million to education, according to the New York State Lottery.

The Racino’s net win from video gaming machines for the 12 months ending June 30, 2006 was approximately $74,368,000, a 17.9 percent increase over the previous year.

For the first time since the Racino opened its doors, the state has created a new formula that will push a portion of the video gaming machine revenue to the Village of Monticello, the Town of Thompson and Sullivan County.

Under the new formula, the state, which receives approximately 60 percent of the cut from the machines, will turn over 3.5 percent of that money to local municipalities. Of that, Sullivan County will get 25 percent and Thompson and Monticello will get the remaining 75 percent.