The Weekly Gaming Business Wrap

Here’s a look at the headlines for this week in the gaming business world.

Kansas Closer To Using Casinos To Support Pensions

State-owned casinos in Kansas may soon be dedicating a portion of their revenue to teachers and government worker pensions as part of a long-term project to boost the state’s retirement system. The proposal has bipartisan support.

Toronto Will Study Exhibition Place As Potential Site For New Casino Resort

At least two major casino developers are looking at Exhibition Place in Toronto to see if the potential site has the space to hold a possible casino resort entertainment district. The city estimates that it would collect $50-$75 million in annual lease payments should the project be approved.

Station Casinos Has Best Quarter In Three Years

Station Casinos in Nevada posted its best operating quarter in three years, reportedly earning $6.8 million in profit on revenues of $318.2 million. Though the profit may be modest, it’s better than the first quarter loss of $11.8 million.

Saratoga Harness To Buy Colorado Casino

Saratoga Harness Racing Inc. has agreed to buy Fitzgeralds Casino in Black Hawk, Colorado from Majestic Star Casino LLC, for a reported $28 million. The property, which opened in 1995, features 587 slot machines, 11 table games, two restaurants and employs 200 people.

Pennsylvania Leads Country In Casino Gambling Tax Revenue

Though it remains the second biggest gambling market in the United States, behind Nevada, Pennsylvania does lead the country in gambling tax revenue, thanks to rates that are as much as seven times higher. In 2011, the state of Pennsylvania earned almost $1.5 billion from their casinos. Nevada only took in $865 million.

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