Inflation, high interest rates and rising gas prices still don't hinder gaming demand
Casino gambling in Pennsylvania, whether online or in person, showed no signs last month of slowing in the face of economic headwinds caused by high inflation and rising interest rates.
The Grantville casino’s revenues of $68.7 million was the highest of all the Commonwealth’s casinos. Of that, $52.7 million came from“It’s a healthy market. There have been monthly all-time records set all year,” said Chad Beynon, managing director and head of U.S. equity research at Macquarie Capital Equities in New York City. “There was concern with declining in the beginning of the year with the war in Ukraine and the effects of inflation, higher gas prices and higher interest rates.
as the main causes for the live play declines, during its third quarter earnings call earlier this month.“The State College and Shippensburg have been pushed back to mid-2023,” he said. “What benefitted land-based casinos was money from child tax credits and stimulus checks inflating gaming numbers. Now, we’re starting to see declines in equities and home prices.”“skill-based games”
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