By Dave Anderson:
The Rivers is too tight....
No one wins there.....
It smells like old ladies and dead cats...
Those are the comments that seek to explain why the Rivers Casino in Pittsburgh is pulling in roughly half the revenue per machine per day that it was projected to actually pull in. I can not speak to the last one, but the data is present to examine the tightness question. Using the 10/4/09 data from the state Gaming Control Board, I constructed the following chart:
For both the most recent week and the entire month of September, the Rivers was marginally stingier than its nearest competitor, the Meadows in Washington County, but marginally looser than the state average. However the differences between the Rivers, Meadows and the state averages are miniscule, an extra win or two for a couple of credits over a few hours of play.
It is not tightness with the slots that is keeping people away from the Rivers. It may be a pattern of winning in that the Rivers may or may not have more jackpots and fewer "maitenance" winners of the bet amount or a small multiple of the bet amount. It may be that, it may be something else about the winning distribution, but in aggregate, the Rivers is not "tight."
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