Lots of Slots

Mar 6, 2007 4:54 AM

According to the Pittsburgh Post-Gazette, "thousands" lined up for the opening of Presque Isle Downs & Casino in Erie, Pa., owned by MTR Group Inc. (MNTG) whose business activities include Binion’s Gambling Hall in downtown Las Vegas.

And they came with pockets full of money.

The Pennsylvania Gaming Control Board reported that during the first day of operation, the slot machines took in $8.9 million with a hold of $809,000. Pennsylvania law permits the operator to retain 45% of the profits which it must share with the horsemen when live racing begins later this year.

Although the opening was described as spectacular, it failed to reach the level achieved by Harrah’s Chester Casino and Racetrack where they installed 2,700 slot machines. Presque Isle has 2,000 machines.