Second Philly Casino No Sure Bet as Atlantic City FaltersSeptember 8, 2014 – In The News
Patrick Madamba, Jr. was quoted in the Law360 article, “Second Philly Casino No Sure Bet as Atlantic City Falters.” Full text can be found in the September 8, 2014, issue, but a synopsis is below.
The Pennsylvania Gaming Control Board is currently considering applications for the rights to build a second casino in Philadelphia, but according to Patrick Madamba, Jr., the recent closures in Atlantic City could signal that the region’s gaming market is reaching saturation.
“This is not an Atlantic City-centric problem at all, it’s an issue for the whole Mid-Atlantic region,” Madamba said. “I do believe that Pennsylvania should seriously think about whether the market can support another casino before it further expands gaming.”
Madamba noted that the slew of casinos opening in states like Pennsylvania, Delaware and Maryland have expanded legalized gaming, leaving frequent gamblers less likely to travel long distance to gamble.
“Gaming has become a commodity, and what Atlantic City has lost is the convenience gaming,” he said. “A person is going to drive around the corner to their local casino rather than going to Atlantic City.”