How Will Harrah's New Ownership Affect Local Gaming?
We want your opinion—how do you think Harrah's new ownership will affect the attractions at our local casino?
The Harrah’s Casino sale seems to benefit two casino companies in different ways, STL Today reported Monday. Caesars Entertainment needed a cash infusion, the newspaper said, while Penn National will have a larger share of the St. Louis Market.
Penn National already owns the Argosy Casino Alton—making Penn and competitor company Pinnacle Entertainment as owners of two St. Louis area casinos, according to STL Today.
But what do you think this means for Maryland Heights and St. Louis gaming in general? Do you expect the local gaming culture to become more homogenized? Or is the Argosy Alton so much fun it needs a sister casino locally?
Be sure to let us know in the comments!
diane
2:20 pm on Tuesday, May 15, 2012
As one of the many who used to be a regular at Harrah's, I hope the new owners don't "nickel dime" the consistent players as the current or "old" owners did. Many of the customers of their competitors have told me the same thing. Take a hint from Ameristar, reward your customers with the same comps they recieve at your competitors and do away with the slot play only vouchers...Trust us to play or redeem for cash the vouchers you send,. You will go along way with the trust factor being restored.
Rob McLean
2:40 pm on Tuesday, May 15, 2012
Thanks for the note, Diane! What type of comps do you receive at Ameristar?
Steve Leipziger
2:38 pm on Tuesday, May 15, 2012
I don't think it will change the industry one bit. Those who gamble will continue too and those who don't, won't, well maybe a few times a year.
Rob McLean
2:40 pm on Tuesday, May 15, 2012
An excellent point, Steve. Many thanks!
Melissa Moulton
3:15 pm on Tuesday, May 15, 2012
Another important question is "How will Harrah's new ownership affect local FUNDING?" Presumably the city's tax on casino revenue, which is a sizeable chunk of city revenue, will stay in place. Are there any other agreements between the city and Harrah's that might be disturbed by new ownership?
Rob McLean
4:53 am on Wednesday, May 16, 2012
Great question, Melissa! Harrah's affected a lot of local funding, for both the city and the local school districts. We ran an article back in 2011 that delved a little bit into how Casino revenue affects local government and schools: http://marylandheights.patch.com/articles/st-charles-maryland-heights-prepare-for-loss-in-casino-revenue-2 But we'll check out how the casino's sale will affect the local economy.