Money & Financial

Casino revenues in Pennsylvania are up over a year ago even in these recessionary times. Atlantic city and Las Vegas may be hurting but don’t tell that to Pennsylvania’s casino and their slot machine business. Revenues in February 2009 rose 14 % over the same period last year.

The Pennsylvania Gaming Control Board reports that the combined gross revenue for the casinos was $126 million. This was an increase of $16 million over last February’s numbers.

Leading the casinos was Mohegan Sun at Pocono Downs with a 43.5 % increase to $17.8 million.
Mount Airy Casino Resort in the Poconos registered a 31.5 % increase up to $15.2 million.
The Meadows Casino in the Pittsburgh area was up 20 % to $20.5 million.

It looks like Pennsylvanians love to gamble and especially love the slots. The Sands Casino Resort Bethlehem is waiting with excitement to join the club of successful casinos when it goes online on May 22, 2009.

The $743 million Sands Casino Resort Bethlehem will open May 22, 2009 just in time for the Memorial Day weekend with 3,000 slot machines and 4 restaurants. Big question however in this recession economy is – Will people come?

Las Vegas Sands Corp who is building the project has been forced to scale back because of the recession. Work was stopped on the hotel and shopping mall portion of the project. The Bethlehem Sands will open with 3,000 slot machines and four restaurants on the site of Bethlehem Steel’s former plant.

==> Lehigh Valley Restaurants

The Sands Corp feels that the Bethlehem casino’s proximity to millions of potential customers in New York and northern New Jersey gives it an advantage because gamblers will not have to fly to get to their new casino.

Las Vegas and other destination gambling markets continue to struggle as consumers scale back spending. Pennsylvania’s casino industry however continues to grow, and posted a 6.7 % increase in gross terminal revenues from January 2008 to January 2009, according to state statistics.

Are you planning to visit the casino this year and gamble?

Pick up any newspaper or turn on your TV and you are instantly aware of the global financial crisis and how it has hurt the banking industry and dried up all available credit to business and individual alike. If you need some extra cash don’t despair. I have an alternative source of money for you and it’s called a “Social Lending Network”.

A Social Lending Network also know as Peer-to-Peer lending is an organization where members lend and borrow money from each other at better rates, bypassing the banks.
Here is how peer-to-peer lending works. One person has money to invest and another needs a loan. The two connect on the Internet through sites such as Prosper, Loanio, Virgin Money USA or Lending Club. Borrowers get loans to fix their cars, pay for college tuition or start a business. Lenders and borrowers are anonymous. But lenders learn something about the people they loan money to because borrowers list their profiles on the group’s website.

Try it Now! Join Lending Club.

1. Save some of your paycheck, don’t spend the whole thing. Tip – start out by saving small amounts of your income. Try to save approximately 15% of every paycheck, but don’t get worried if you see that you cannot save that much. The important thing is to save a little on a consistent basis.

2. Reduce your amount of ATM fees
Every time you make a withdrawal using your debit card, you are charged an extra fixed rate. That fee is even higher if you’re not making the withdrawal at your own bank. Don’t make multiple withdrawals, estimate how much cash you’ll need for the week and make only one withdrawal at your own bank. If you have any money leftover at the end of the week, put it into your savings account.

3. Keep track of your money
Keep track of where you’re spending your money. Those who know where their money is going tend to spend less and save more. By keeping track of your expenditures, you’ll have a better idea of how much money you have already spent and prevent you from going over your budget.

4. Pay off your short-term loans
Money that you’re spending on interest payments is money that you could be saving. Try to reduce or eliminate any short-term debts such as credit card balances, or car and student loans.

5. Set up an automatic savings plan
Many people tend to procrastinate. This is not a good trait when it comes to saving money on a consistent basis. Arrange to have as little as $20 to $30 a month deducted from your bank account and deposited into a savings or mutual fund account.