Harrah's Releases Impact Report - Thursday 9th of March 2006

PENNSYLVANIA – As reported by the Pittsburgh Post-Gazette: "If you're at least 21 and living in Allegheny County, Harrah's is counting on you to lose $400 at its slot machines during the casino's first business year. By year four, if you're not sick of losing, you'll be expected to forfeit $521 annually.

"Harrah's Entertainment rationalizes its higher-than-industry-average slots projections by touting its nationwide network of customers and its ability to route customers from distant locales to its dozens of properties.

"Even so, Harrah's, in an economic impact study submitted to the state, says it expects that nearly three-fourths of its $531.4 million in annual slots revenue will come from residents of Allegheny County. J

"ust a small share of customers will come from beyond a 100-mile radius, according to the impact statement submitted to the state.

"…That average spending of $400 per person jumps when you consider that up to 40 percent of Allegheny County's gambling-age population won't visit the casino even once. That means the remaining 60-plus percent will have to pick up the slack, losing $650 or so in the first year.

"Fortunately, you won't have to spend it all at once…"

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