borgata casino floor map(Image: Shutterstock)Deutsche Bank gaming specialist Carlo Santarelli is troubled that while some states are reporting better than pre-pandemic brick-and-mortar casino revenues, Pennsylvania is not. “Said differently, the entertainment dollar lasts twice as long in the iCasino environment.”Deutsche Bank research concluded that land-based casinos in Pennsylvania are spending nine percent less on promos than they did during the same time period in 2019.iGaming Expansion OddsThe potential cannibalization of brick-and-mortar casino gambling caused by online platforms, Santarelli believes, will caution other states in moving to legalize internet gambling. But as Pennsylvania emerges from the coronavirus, the trend among many gamblers seems to be staying online, rather than returning to a physical casino.“We think it is worth considering the notion that the presence of iCasino in Pennsylvania could be stunting the casino recovery,” Santarelli wrote. resorts casino hotel atlantic city reviewsCurrently, along with Pennsylvania, only New Jersey, Delaware, West Virginia, and Michigan have iGaming with interactive slot machines and table games. That’s a bullish sign when considering Macau is a far larger market for that company.Other operators, including MGM Resorts International (NYSE:MGM), are highlighting impressive earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) margin trends. Compared with 2019, gross gaming revenue (GGR) in 2021 at the state’s 14 commercial casinos was down 12 percent in March, up one percent in April, and down three percent in May. casino 1995 cast

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seven feathers casino eventsAs such, Wynn Resorts (NASDAQ:WYNN) recently commenced a 5 million room renovation in response to strong 2022 bookings. Accordingly, we find the theme of the pandemic making iCasino legalization a likely source of funds for states far less likely now, post bailouts, than perhaps was theonline gambling platforms case 6-12 months ago,” Santarelli explained. “As such, we think the rollout of iCasino is likely to be a lot more challenging than most expect, and far more challenging than sports betting. free slot machines casinoand 30 percent in March, April and May, respectively, supporting the gradual recovery.”Individual Operator NotesSome Strip operators are bullish on convention trends, noting bookings in the second half of 2021 and 2022 look sturdy. Traffic on Pennsylvania casino floors remained light during their reopenings, as made evident in this photo last year of Parx Casino in Philadelponline gambling platformshia. The Deutsche Bank note says Pennsylvania casinos are spending many more marketing and promotional dollars on their iGaming products than at their brick-and-mortar properties.Though the convenience of a pocket casino is surely a strategic advantage, if you’re a slot customer, it appears the iCasino is actually the value play for your entertainment dollar as well,” Santarelli detailed. running aces casino hours

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live casino tier matchCompared with 2019, gross gaming revenue (GGR) in 2021 at the state’s 14 commercial casinos was down 12 percent in March, up one percent in April, and down three percent in May. (Image: Shutterstock)Deutsche Bank gaming specialist Carlo Santarelli is troubled that while some states are reporting better than pre-pandemic brick-and-mortar casino revenues, Pennsylvania is not. In May, Pennsylvania’s set its third consecutive monthly gaming record. “As such, we think the rollout of iCasino is likely to be a lot more challenging than most expect, and far more challenging than sports betting. “Said differently, the entertainment dollar lasts twice as long in the iCasino environment.”Deutsche Bank research concluded that land-based casinos in Pennsylvania are spending nine percent less on promos than they did during the same time period in 2019.iGaming Expansion OddsThe potential cannibalization of brick-and-mortar casino gambling caused by online platforms, Santarelli believes, will caution other states in moving to legalize internet gambling. So, where’s the money coming from? Online.iGaming TrendDuring COVID-19, iGaming reasonably flourished, as the state’s land-based casinos were forced to shutter. silver oak casino bonus