Future bright for Pennsylvania's casinos, Gaming Control Board chairman says
By The Associated Press
Published: Thursday, Feb. 21, 2013, 10:30 p.m.
HARRISBURG — A debt-hobbled New Jersey casino may be on the brink of bankruptcy, but Pennsylvania's top gambling regulator said Thursday he does not expect the same financial fate for any of Pennsylvania's 11 casinos.
Bill Ryan, chairman of the Pennsylvania Gaming Control Board, told the state Senate Appropriations Committee that the casino gambling industry appears to be in good shape in Pennsylvania, now the nation's second-largest gambling market.
“I don't see anything on the horizon,” Ryan said in a response to a question by Sen. John Wozniak, D-Cambria.
Revel in Atlantic City, N.J., plans to file for Chapter 11 bankruptcy protection in March, less than a year after it opened, in a move designed to offload about two-thirds of its $1.5 billion in debt by converting more than $1 billion of it into equity for lenders.
Revel was the first new casino built in Atlantic City since the Borgata Hotel Casino & Spa opened in 2003, an ambitious and risky project in a declining market buffeted by growing competition from casinos in Pennsylvania and other nearby states.
Ryan also was asked about Attorney General Kathleen Kane's conclusion that Gov. Tom Corbett's private lottery management contract conflicts with the Gaming Control Board's authority over slot machines, part of the reason she rejected it.
Ryan said he was not prepared to respond, but senators asked him to produce a legal opinion from the agency's lawyers and deliver it to the Appropriations Committee.
Corbett appointed Ryan to the gaming board in 2011. Ryan was Corbett's top deputy in the attorney general's office when Corbett was elected governor in 2010.
The governor has said he will say Friday whether he will file a court appeal of Kane's rejection of the 20- to 30-year lottery contract with British firm Camelot Global Services.
Kane announced her decision after Corbett undertook a nine-month process to find and hire a private company to replace state employees running the state's lotteries.
The legality of the contract is being challenged in court by Democratic lawmakers and the union that represents lottery employees.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- York teen suspended for asking Miss America to prom
- Philanthropist helps waitress become nurse
- Race for lieutenant governor often overlooked in Pennsylvania
- Pa. lawmaker tells how he declined bizarre cash offer made in Rotunda
- Volunteers needed to plant trees at Flight 93 memorial
- Dog wardens will canvass state for license compliance