Pocono Downs Pulls In Millions during 1st Three Days

In just the first three days of operation last week, according to the Pennsylvania Gaming Control Board, Mohegan Sun at Pocono Downs brought in nearly a million dollars in tax revenue for the state, totaling $928,000 in November 14-16.

The casino pulled in $760,000 in revenue during the same three days, earning $311,000 on November 14 and $256,000 and $193,000 on November 15 and 16 respectively. In all, $6.708 million was wagered on opening day while $6.017 million was paid out. The second day of legalized gambling saw $5.393 million wagered and $4.824 million paid out while during the third day $4.068 million was wagered and $3.640 million was paid out.

According to analysts at Bear Stearns, the slot machines generated a remarkable $575 per unit, per day during the first two days of operation. In most casinos, slot machine take is typically $250 per day.

Sixty percent of the facility’s 1,095 slot machines are set up for nickel, penny and two-cent bets. There are a total of 376 penny machines, 69 two-cent machines, 217 nickel machines, 268 quarter machines, 143 $1 machines and 22 $5 machines.

“I think the newness of the facility, and the fact that there is no competition for it (in Pennsylvania) at this point produced some strong numbers for them,” said state Gaming Control Board spokesman Doug Harbach.

The new casino is located at Pocono Downs, a harness racing track in Wilkes-Barre PA, about an hour north of Philadelphia. Construction of the 90,000 square foot two-level gaming space including a food court began in September of 2005 with the removal of the facility’s old grandstand. The investment in this Phase I project was approximately $72.6 million. The casino operates 24 hours a day, seven days a week and houses almost 1,100 new slot machines with denominations ranging from one cent to $25. The main level is smoke-free with approximately one-third of the games. There is a casino bar and food court located on the main level with future plans for a patio restaurant. The first level hosts the majority of the games as well as a snack bar and casino bar. All the newest and hottest game titles are on display, including more than 500 reel games, over 450 video slots and an array of video poker games. The games feature the coin-free ticket in/ticket out technology.

Mohegan Sun at Pocono Downs presents live harness racing from March to November and provides simulcasting of the top races throughout the country year-round. The facility, originally known simply as Pocono Downs, opened as a harness racetrack on July 15, 1965.

Plans for a Phase II gaming and entertainment facility at Mohegan Sun at Pocono Downs have been previously announced. The project would be developed on land adjacent to the existing gaming location. When completed, the facility is anticipated to include approximately 2,500 slot machines, a variety of restaurants, a 300 seat buffet, an expanded food court, retail shopping, nightlife venues, additional parking and bus amenities. Construction is expected to commence in 2007 with a grand opening planned for mid-2008. Phase II is anticipated to cost between $140 million and $150 million.

The Mohegan Tribal Gaming Authority is the business arm of the Mohegan Tribe of Indians of Connecticut, a federally recognized Indian tribe with an approximately 507-acre reservation situated in southeastern Connecticut, adjacent to Uncasville, Connecticut. The Authority operates Mohegan Sun, a gaming and entertainment complex that is situated on a 240 acre site on the Tribe’s reservation.

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