BETHLEHEM | Sands Casino Resort Bethlehem won big in 2010 compared with its first year in operation.
Last year, Sands' average monthly slots revenue increased to $21.55 million compared with $18.78 million in 2009. With the addition of table games in mid-July, Sands collected an average of $4.7 million in table games revenue each month.
There are a few reasons for the increase in revenue.
Casino experts say table games often prompt an increase in slots revenue because a gambler who plays table games might have a spouse who likes to play the slots. Sands' pre-table game 2010 slots revenue, however, was almost as robust as before the arrival of table games: a monthly average of $21.37 million compared with $21.75 million.
Sands' monthly slots revenue was more than $20 million every month last year except for February, when it totaled $19.7 million. January 2010 marked the start of an almost eight-month streak where more than $300 million was wagered every month but February, which was the second snowiest month in Lehigh Valley history with a likely negative effect on casino business.
Many Pennsylvania casinos experienced significant increases after their first year, said Richard McGarvey, a spokesman with the Pennsylvania Gaming Control Board.
"You have to consider the ramp-up period. It takes a couple of years to establish their markets," he said.
Las Vegas Sands Corp. officials have regularly cited a 17-month period until casinos typically reach their full operating ability. Sands Bethlehem hit its 17-month mark in late October. Sands Bethlehem President Robert DeSalvio, through a spokeswoman, declined comment for this article because Las Vegas Sands will soon release its fourth-quarter report for 2010.
In addition to the ramp-up period, Sands Bethlehem likely received greater business last year over 2009 because the casino significantly increased its average monthly promotional play from $4.7 million to $7.2 million.
Sands' slots payout rate overall has dipped since its first full month of operation, June 2009, when bettors received almost 92 percent of their money back. The casino's mid-year payout drop in 2010 was consistent with other Pennsylvania casinos, which saw an average 90.19 percent slots payout rate compared with 90.9 percent for the first half of the year.
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