The Meadows Racetrack & Casino will have a major advantage by opening at least a year before any other slots parlor in the Pittsburgh region, its owner said Wednesday.
The Washington County harness racetrack held a ceremony yesterday to celebrate the completion of a tent-like structure that will house the temporary casino, scheduled to open in late May.
"We've seen there's pent-up demand in the state," said co-owner Bill Paulos. "Obviously, if there's only one facility for a while, it gives us a head start."
Majestic Star Casino, awarded the license for a Pittsburgh casino, was scheduled to open on the North Shore next March. But two losing bidders are appealing the state Gaming Control Board's decision, and the opening is expected to be delayed at least until late that summer.
Because of that delay, the Meadows potentially could make a lot more money than anyone predicted, said General Manager Mike Graninger. Each of the temporary casino's 1,738 slot machines could bring in as much as $500 a day, he said.
The operator previously predicted daily revenues per machine of $216, and the state expects the casino to make only half of that.
"I like our address better than Pittsburgh," Graninger said. "I just don't see anyone competing with us."
Voters will decide June 9 whether to change West Virginia law to allow slots casinos to offer table games, a move that could eat into the Meadows' profits, the operators said.
"That's obviously a disadvantage," Paulos said. "They have a marketable difference now."
The Meadows has accelerated its time schedule for the permanent casino, to start demolition of the grandstand in September and open the replacement building in early 2009.
Sitting at the end of the Meadows' parking lot, the temporary casino looks like a five-story tan tent with metal seams. The inside, for now, has a concrete floor with metal framing where walls will go. The ceiling tops out at 52 feet, but the casino will have a lower drop ceiling.
The main building is big enough to cover a football field, including the end zones and sidelines. A second, smaller tent sits behind it.
The temporary casino will cost $22 million; the permanent casino is projected to top out at $160 million, Graninger said. The Meadows has spent $30 million on slot machines.
The casino mainly will feature penny slots, low-denomination machines on which players can bet up to $2 a spin, Paulos said. The operator has purchased some familiar games, such as Hot Hot Penny and Mr. Cashman, as well as new ones called Fort Knox and Cash Express.
"We're going to have a tremendous amount of penny games," Paulos said. "We think that's what the customer likes."
The Meadows Rewards club will credit players with one point for every $1 put into a slot machine, allowing the credits to be used for food, gift shop merchandise and gift cards to local businesses.
At 82,000 square feet, the temporary casino will include Silks, a restaurant with seating for 300, and Pacesetters, a cocktail lounge with live music and high-definition TVs.
