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Now that Philadelphia is bringing in thousands of slot
machines, Atlantic City may see a decrease in the city’s future expansion.
Anticipated revenues from the four Philadelphia casinos put their businesses
in the future making ¼ the revenue that Atlantic City brings in each
year--$1 billion. And that is an impressive total—one that may very well
mean that Philadelphia’s slot machines are going to cut in the slot machines
revenues in Atlantic City.
At the opening of the Philadelphia Park Casino recently, the Vice-President
of Spectrum Gaming Group was impressed by the sheer number of patrons the
slot machines and the casino managed to draw on a week-day. Joseph Weinert,
the Spectrum V.P., was present at the opening as an outside consultant
representing the interests of a handful of Atlantic City slot machines and
gambling casinos.
He had the following to say about the future of the slot machines in both
Philadelphia and Atlantic City. “It could create a whole new group of
gamblers, but even then, it is likely at least to suck the growth out of
Atlantic City, if the people there don’t react. That is why it is imperative
for Atlantic City to continue to invest by the hundreds of millions into
nongaming areas — nightclubs, spas, restaurants — as well as table games,
which are an inevitability in Pennsylvania. But Atlantic City has to take
advantage of that while it still has the competitive advantage.”
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