In just its first three months of business, $52 million in revenue was realized. By the end of six months, they had well exceeded all financial expectations as well as forecasted numbers of people visiting and playing the machines. Even higher attendance and revenue is expected in 2008, aided by a new special room with high-limit machines that will only accept bets between $1 and $25.
Financially, across Pennsylvania, the slot machines have had a positive impact thus far. Six new casinos in the Commonwealth have together generated more than $570 million in revenue to the Property Tax Relief Fund, the magic number needed to implement a property tax cut.
The municipality in which The Meadows is located - North Strabane - has capitalized on its piece of the pie. They paid cash for a $1 million aerial fire truck, using revenue received from the intake at the 1,700 slots machine.
Now nearly every municipality in Washington County, along with non-profit agencies, non-governmental entities and the county itself are sticking their hands out for their share. Submitted requests from area entities include expansion of Peterswood Park, aquatic ecosystem restoration of Canonsburg Lake, two different sewage upgrades in Cecil Township, sidewalk enhancement in Canonsburg Borough, and renovations to Canonsburg Town Park. Other applicants include multiple infrastructure projects, building renovations and town revitalizations.
Beginning next week, the Washington County Economic Development Roundtable Local Share Account Review Committee and the general public will begin to listen to presentations from these 85 applicants. All want their part of the approximately $8 million of the local share available from the slot machine revenue, realized from a 4 percent allotment on the gross terminal revenue at The Meadows.
Recommendations from the panel will be submitted to the Washington County Commissioners for a March vote. The final decision will come from the state Department of Community and Economic Development (DCED) and is expected in June.
There is always fierce competition when it comes to money. There's also a price to be paid for progress. While the two don't always go hand-in-hand, in the case of the revenue share money, they're attached at the hip. The selected projects must meet specific DCED guidelines designed to stimulate the local economy through jobs and cultural or recreational activities.
The measure of the long-range impact of these casinos on the community overall has yet to be proven and may not be realized for several years. We hope the price of this progress will prove to be a positive one in the long run.