Good bet
Looks like the decision to open the Lady Luck Casino Nemacolin at the Nemacolin Woodlands Resort is proving to be a successful gamble for the Joe Hardy family.
According to the Pennsylvania Gaming Commission, the Wharton Township facility generated $8.7 million in revenue from this past July through September, an increase of 17 percent over its first quarter last year. The commission’s fiscal year runs from July 1 until June 30. The casino opened on July 1, 2013.
Just as important, the numbers showed an increase in slot machine revenue at the casino for the third consecutive quarter. Lady Luck’s 582 slot machines produced $7.3 million in revenue during the first quarter, a 15 percent increase from last year.
From its 29 table games, the casino made $1.4 million in revenue during the quarter, a 25 percent increase from last year. The $520,320 in revenue from July was more than double the amount taken in last year.
Lady Luck Casino Nemacolin did better than the average for casinos across the state. Statewide slot machine revenue was down 1.1 percent from the same quarter last year, while table game revenue was up 3.4 percent during the same time period.
However, it’s not just the Hardy family that’s profiting from the increased revenue at the casino. Employment at the casino has remained stable at about 350 employees, including part-time and full-time workers. The casino has also reportedly been a plus for the Nemacolin Woodlands Resort, which is one of Fayette County’s biggest employers.
All county residents have a stake in the profitability of the casino as Fayette County and Wharton Township each receive two percent of the revenues from the facility. Last year, that amounted to $1,030.432.78, with the county and the township each receiving $515,216.
If the numbers for the quarter continue for the rest of 2014-2015, that amount could increase to $1,282,028, with Fayette County and the township each getting $641,014.
That’s new money, coming solely from the casino. It’s a great opportunity for both county and township officials to do something beneficial for their residents.
Of course, it wasn’t all that long ago that it looked like the gamble might not pay off for the Hardy family.
Shortly after opening in July of 2013, the Isle of Capri, which operates the casino, furloughed 15 percent of the workforce, citing lower numbers than expected.
It also shut down the table games from 3 a.m. until 10 a.m.
There was some concern that the market for gamblers might be saturated with fierce competition coming from casinos in Pittsburgh, Washington, Pa., and Cumberland, Md.
In addition, since the casino had a resort license it was mandated by the Pennsylvania Gaming Commission to charge an entrance fee.
There certainly was a lot of resistance to the fee, particularly when the casino opened, with many mistakenly blaming it on Joe Hardy.
However, gaming commission officials cautioned that it would take probably a year for revenues at the casino to start growing.
The officials noted that’s been the case with almost all of the casinos opened across the country.
That certainly seems to be what’s happening with the Lady Luck Casino Nemacolin, especially in recent months. How long the numbers will hold up is anyone’s guess. But, so far, the casino has more than lived up to its name. And for the sake of everyone involved, we hope the bet by the Hardy family continues to pay off.