propelled the parent company of Hollywood Casino at Penn National Race Course to a handsome third-quarter profit, but in-person wagering on slot machines and table games at its Grantville property continued to slide.
And, even more competition is on the way within Pennsylvania’s borders, as more brick-and-mortar properties are expected to open next year in Cumberland and Centre counties. Penn Entertainment Chief Executive Officer Jay Snowden said he expected the company will remain profitable in 2023 as it continues appeals to a younger 21-to-44-year-old, mostly male demographic that plays Internet casino games and wagers on sports. Snowden added that profits will be reinvested into the company’s existing properties.
The three-month plunge is far steeper than the average combined 0.18% decrease in live slots revenue experienced by the other 16 Pennsylvania casinos in September.