Presque Isle Downs & Casino is officially up for sale as part of a larger move by Churchill Downs to offload nine of its properties.
It’s a story we first told you about last night on Erie News Now at Five.
But the focus isn’t just on the sale. It’s on what this casino means for the community and why its impact continues no matter who ends up buying it.
Presque Isle Downs is one of the smallest casinos in Pennsylvania, but ECGRA says it’s one of the strongest performers per capita. And that performance matters because one percent of its slot and sports gaming revenue comes straight back into Erie County through Local Share Gaming Revenue, bringing in more than $6 million a year for Erie County’s economic development.
“Projects like Subaru and water infrastructure, EMS, we purchased ambulances with it, we fix neighborhoods, we help small businesses to grow and to repair their façades in their downtown businesses. None of these projects are possible without Local Share Gaming Revenue, and that’s one of the blessings of having a casino in our own backyard as opposed to tapping into a statewide pot of money.” Perry Wood, ECGRA’s Executive Director shared.
That money is written directly into Pennsylvania’s Gaming Act, meaning it continues to flow no matter who owns the casino. ECGRA says hundreds of nonprofits, local governments, and community programs rely on it, from childcare initiatives to the community college, just to name a few of the areas seeing a major impact.
With skill games recently ruled unconstitutional, ECGRA believes brick-and-mortar casinos like Presque Isle are actually in a stronger position moving forward.
“It’s one of the smallest casinos in the state, but it produces the most revenue per capita. It’s a strongly performing regional casino, and we hope it will be for many years to come.” Wood said.
An official statement from a representative from Church Hill Downs shared.
“As previously announced, Churchill Downs Incorporated is exploring strategic alternatives for certain wholly owned regional gaming assets as part of our strategy to reinvest in Churchill Downs Racetrack and the Kentucky Derby, live and historical horse racing, and our TwinSpires wagering platform. We remain focused on creating long-term value for our shareholders. At this time, we do not have any additional information to share.”
We will continue to follow this story and provide any updates once it becomes available.