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A New Casino Could 'Cannibalize' SugarHouse

City Council prez Darrell Clarke just got done telling TV host Steve Highsmith how great it's going to be for Philly to have another casino. He used SugarHouse as an example, saying that the neighbors' worries turned out to be unfounded.

But according to today's Inquirer, SugarHouse could face some serious trouble when the next casino arrives. As it stands now, the casino failed to increase its gross slots revenue between 2011 and 2012, and a securities expert told the Inky it could only get worse: "We believe the Philadelphia gaming market has reached a point of saturation . . . A new destination casino in Philadelphia offering more non-gaming amenities, such as a hotel and retail, could meaningfully cannibalize both SugarHouse and Harrah's Philadelphia.
· Area casinos see profit down as 6 vie for permit [Inquirer]