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Poker Profits Add To Bottom Line
Racetracks Pleased With ResultsBy CASEY JUNKINS Staff Writer
POSTED: November 25, 2007
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WHEELING — Local racetracks have drawn a flush on the river card in their attempts to bolster the bottom line with poker.
According to figures from the West Virginia Lottery Commission, from Oct. 20 through Nov. 17, Mountaineer Casino Resort & Racetrack in Chester has earned $711,352 in poker revenue while Wheeling Island Racetrack and Gaming Center has earned $637,337.
This is on top of slot machine revenue of $20.2 million for Mountaineer during the Oct. 20 to Nov. 17 period and $14.6 million for Wheeling Island.
Mountaineer had total casino revenue of about $20.9 million while Wheeling Island earned $15.26 million.
Wheeling Island spokeswoman Kim Florence said to date poker has been everything her facility has expected — and more.
“Poker is exceeding our expectations,” she said. “Our tables have been busy and continue to be busy.”
Robert Marshall, Wheeling Island’s president and general manager, agrees with that assessment.
“We’re very excited right now,” Marshall said. “It’s really starting to look like a casino. We’re open 24 hours, we have poker, and we’re now in the process of bringing the equipment in for the pit games.”
John Melton, in-house attorney for the West Virginia Lottery Commission, said poker tables are good for bringing in customers but do not result in much direct revenue for the tracks.
What money is earned from poker comes through a “rake,” Marshall said — or 10 percent of each poker pot, up to a maximum of $5.
Melton said that —unlike craps, roulette and blackjack — poker players compete against fellow poker players, rather than the house. “Those games will bring in more money because they are played against the house,” he said.
And that’s exactly what local track officials are waiting for. The implementation of craps, roulette and blackjack — what Marshall refers to as “pit games” — is set for Jan. 1, but likely will begin sooner as Wheeling Island has a charity poker night set for Dec. 17-18, at which time the new pit games will be unveiled.
Libby White, marketing deputy for the commission, said the revenue from poker is in line with the state’s projections.
“The tracks are anticipating much more revenue when they start craps, roulette and blackjack,” she said.
Local track officials believe the additional revenue from these games will offset their losses to The Meadows Racetrack and Gaming Center in Washington, Pa.
Revenue for The Meadows between Oct. 20 and Nov. 17 was nearly $20.5 million, or $5.2 million more than Wheeling Island.
Officials in Pennsylvania already are thinking about table gambling facilities of their own to deal with West Virginia’s new venture. In September, Pennsylvania House Majority Leader Bill DeWeese, D-Waynesburg, said that House Bill 2121 would permit table gambling at The Meadows and other Keystone State tracks.
While DeWeese’s press secretary Tom Andrews previously said it is unlikely the bill would become law during the current two-year session, there is a strong possibility it could pass within the next four years — meaning the Mountain State could once again be left searching for a way to replace millions of dollars in lost revenue.
“The process has been started in Pennsylvania, but I expect it will take several years before table gambling gains a foothold, just as it did in West Virginia,” Marshall said.
Michael Graninger, vice president and general manager of The Meadows, previously said a larger building will be opened in January 2009 that will be big enough for the 3,000 slot machines he anticipates having at that time.
And by then, the dice could be rolling in the Keystone State, as well.
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atoddh
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11-25-07 12:41 AM
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The Northern Panhandle Casinos should be developed as quickly as possible - with all possible State assistance & cooperation - into comprehensive regional gaming,entertainment and leisure destinations. In the case of Wheeling,the Casino should be an integral part of the areas already substantial tourism infrastructure(eg Oglebay etc).Keep in mind that visitors purchase accomodations,food and beverage,entertainment,gas,other retail beyond their expeditures on gaming.This is in the $80-100/day per person range and not necessarily all at the track. Mountaineer,in contrast, is a largely self contained operation set on 2000 acres.
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