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Pennsylvania wanted to legalize casino gambling in the state to stop their residents from traveling to other states to spend their entertainment dollars.
They felt that there was enough gamblers in the state to help create revenue from having their own casinos. The money generated would help in the state budget. Officials were absolutely right on all accounts.
A new report has been released, and the results come as a shock in a state that is competing with Atlantic City. Four of the states casinos are in the top five on the East Coast for slot machine revenue.
For the fall of 2007, the state had four of the five spots also for money grossed per slot machine. The Mohegan Sun at Pocono Downs was number one in the report. They made $403 per slot machine from the beginning of September to the end of November.
More slot machines are being added in the state. There is a target number that creates a slot machine average for revenue, and since the state is over that average, it is an indication that the state needs more machines.
MGM Mirage might end up being the missing piece of the puzzle for Atlantic City. The company is planning the biggest casino in the city, which is impressive all in itself.
On Tuesday, the group moved closer to their goals of building the casino by filing for an important environmental permit from the state. The permit filing shows that the company is ready to move forward with its plans.
The casino is expected to have 200 table games and 5,000 slots. That would make it the biggest casino in Atlantic City. It will also have three hotel towers with a total of 3,000 rooms between them.
The groundbreaking for the project is expected by the end of the year. The target date for the opening of the casino is 2012. This is not the first project in Atlantic City for the MGM group.
Right next to their casino site is the Borgata Hotel Casino and Spa. That casino is a partnership between Boyd Gaming Corporation and MGM.
The land that the new casino resort will go on is large. It has to be considering the large project that is going on it. 72 acres of land in the Inlet section of the city is the site. The cost of the project is projected at $5 billion.