Presque Isle Downs and Casino Beats Revenue Expectations

Knight predicts an even better second year for Presque Isle, as a clientele has been established and an expanded racing schedule is in place.

Presque Isle Downs and Casino beat slot revenue predictions in its first year operating the machines, surpassing an estimate of $130 million in income by over $30 million to garner $163 million. The Pennsylvania Gaming Control Board had estimated the racetrack would be among the lower echelon of slot earners, but a wise use of the location's partnership between slots and horses helped beat expectations.

There has been a recent decline in the daily take, but company CEO Richard Knight attributes the slowdown to traditional seasonal variance, understandable with the recent waves of winter storms. Employee layoffs that took place for the offseason are now being reversed in anticipation of spring and summer.

Knight predicts an even better second year for Presque Isle, as a clientele has been established and an expanded racing schedule is in place, with 100 days of thoroughbred racing beginning in May, as opposed to the previous month-long September meets.

High purses and excellent track conditions led the Thoroughbred Times to recently name Preque Isle the top venue in the country. Knight and his management team are to be lauded for creating a truly symbiotic relationship between slots and horse racing, resulting in the greater good of Presque Isle. Other slot operators currently running racetracks, such as Isle of Capri, could take long and hard lessons on management from Presque Isle.

Knight plans to continue to upgrade and finetune his establishment, adding both a deli and a pizzeria this year as well as increasing the number of betting windows and replacing video slots with the more popular reel variety. Things at Presque Isle Downs and Casino seem to be in fine hands.