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The Mid-Atlantic
BattlegroundJune 13, 2019Joseph Weinert, Executive Vice President
• Definition: 150-mile radius of Philadelphia• 32 casinos• Also in the market:
– Four casinos in development in PAo Full-service Live casino at Philadelphia stadium complex, opens 2020
o Three satellite casinos: Morgantown, York, Shippensburg
– Three casinos permanently closedo Monticello Gaming in Catskills
o Atlantic Club, Trump Plaza, Showboat(?) in Atlantic City
– Two casinos reopenedo Hard Rock (Trump Taj Mahal) and Ocean (Revel) in Atlantic City
– Four tracks/OTBs with sports betting loungeso NJ: Meadowlands, Monmouth Park
o PA: Phila Turf Club, Valley Forge Turf Club
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The Mid-Atlantic Marketplace
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Casino
Track/OTB w/sports betting
Casino in development
Got Casinos?
• 32.1M adults– Includes 3 of country’s 8 largest MSAs
– All with well-above-average household income
• $10.B GGR*
– Up 8.7% YOY
• 71,347 slots– $307 daily win per unit
• 2,945 live table games– $2,930 daily win per unit
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Market Size(LTM March 2019)
Source: Spectrumetrix * Inclusive of promo play where reported
Who Owns/Operates What
PA: Hollywood Penn National*
WV: Hollywood Charles Town
MD: Hollywood Perrysville
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NJ: BorgataNY: Empire CityMD: MGM National Harbor
MD: Ocean Downs
DE: Dover Downs
PA: Mohegan PoconoNJ: Resorts AC (managed)
* Won two PA satellite casino auctions
Who Owns/Operates What (cont.)
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NY: Jake’s 58 NY: Resorts World NYCNY: Resorts World Catskills*
NJ: CaesarsNJ: Harrah’sNJ: Bally’sPA: Harrah’sMD: Horseshoe
NJ: TropicanaPA: SugarHouse
* Joint venture
NY: Tioga Downs
PA: Valley Forge
Who Owns/Operates What (cont.)
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Single-asset operators:
• Delaware Park, DE
• Harrington Raceway, DE
• Mount Airy, PA2
• Ocean Resort, NJ
• Parx, PA2
1 – Philadelphia Live opening 2020. 2 – Won a PA satellite casino auction
NJ: Golden NuggetNJ: Hard Rock AC
MD: Rocky Gap
PA: Wind Creek Bethlehem(fka Sands)
MD: Maryland Live1,2
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Top 5 Performers(LTM March 2019)
$978.5
$768.2 $714.0 $704.5 $696.6
$0
$200
$400
$600
$800
$1,000
$1,200
R E S O R T S W O R L D N Y C
B O R G A T A M G M N A T I O N A L H A R B O R
P A R X E M P I R E C I T Y
GG
R in
M
LTM MARCH 2019
Source: Spectrumetrix. Inclusive of promo play where reported
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Bottom 5 Performers(LTM March 2019)
$55.7
$75.6 $77.6
$90.9 $97.3
$0
$20
$40
$60
$80
$100
$120
R O C K Y G A P H O L L Y W O O D P E R R Y V I L L E
O C E A N D O W N S T I O G A D O W N S H A R R I N G T O N R A C E W A Y
GG
R in
M
LTM MARCH 2019
Source: Spectrumetrix. Inclusive of promo play where reported
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Delaware Park1.71%
Dover Downs1.47%
Harrington Raceway
0.91% Hollywood Perryville0.71%
Horseshoe Baltimore2.43%
Maryland Live5.48%
MGM National Harbor6.68%
Ocean Downs0.73%
Rocky Gap0.52%
Bally's1.78%
Borgata7.19%
Caesars3.07%
Golden Nugget3.15%
Hard Rock Atlantic City2.18%
Harrah's AC3.01%
Ocean Resort1.38%
Resorts2.73%Tropicana
3.52%Empire City
6.52%Jake's 582.06%
Resorts World Catskills1.79%
Resorts World NYC9.16%
Tioga Downs0.85%
Harrah's Philadelphia2.80%
Hollywood @ Penn Nat'l2.62%
Mohegan Sun Pocono2.57%
Mount Airy2.16%
Parx6.59%
Sands Bethlehem6.32%
SugarHouse3.16%
Valley Forge1.38%
Hollywood Charles Town3.38%
Source: Spectrumetrix. Inclusive of promo play where reported
Mid-Atlantic
Market
Shares(LTM March 2019)
• Three full-service casinos in Downstate NY– Resorts World NYC, Empire City candidates for conversion after
2022– New casino in Manhattan
• Revive northern NJ casino efforts– Voters clobbered this effort in 2016
• Full retail gaming in PA– Are truckstops gateway to bars & taverns?
• Sports betting likely in every Mid-Atlantic state– Now: DE, NJ, PA, WV– Coming: CT, DC, MD, NY, VA
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Possibilities
Matthew Doherty
Executive Director, New Jersey Casino Reinvestment Development Authority
Mark Giannantonio
President and Chief Executive Officer, Resorts Casino Hotel
Phil Juliano
Senior Vice President & Chief Marketing Officer, Twin River Management Group
Brian McGill
Managing Director and Senior Research Analyst, Gaming and Lodging, Telsey Advisory Group
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Our Panel
