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US – Pennsylvania’s slots increase for first time in three years
By Phil - 6 July 2015
Pennsylvania’s casinos have turned things around in terms of slot revenue with the state’s 12 casinos reporting a slight increase of 0.7 per cent on last year’s figures.
Coming in at just over $2.3bn, the year up to June 30, was the first in three years that casinos posted an increase from slot machines.
Lady Luck Casino Nemacolin in southwestern Pennsylvania saw the biggest increase of almost 25 per cent., whilst Sands Casino Resort Bethlehem was the top performer overall, posting saw an increase of about three per cent, from its slots with revenue reaching $288.9m. Parx Casino in Bucks County was the state’s second-highest revenue generator whilst Presque Isle Downs and Casino in Erie earned the least with GGR falling five per cent.
The Pennsylvanian Gaming Board said: “Bolstered by a 2.7 per cent increase in slot machine revenue generated at casinos during June of this year compared to the previous June, slot machine revenue also grew during a full fiscal year for the first time since Fiscal Year 2011/2012. In the 12-month period that ended June 30, 2015, slot machine gross revenue was $2,335,787,919 compared to $2,319,890,598 during the 2013/2014 Fiscal Year. Tax revenue produced through slot machine play during the 2014/2015 Fiscal Year totalled $1,247,016,899.These figures do not include revenue and tax generation during the Fiscal Year from table games. Total casino gaming revenue figures for the 2014/2015 Fiscal Year that include table games will be released by the Board in a couple of weeks.
“To date, since the opening of the first slot machine casino in November of 2006, taxes just from slot machine play have totaled $9.9bn. Tax revenue from slot machines is designated under the Gaming Act to fund homeowner property tax reduction; increase purses and provide health and pension benefits to personnel in the horse racing industry; provide revenue toward economic development projects statewide including water and sewer projects; assist thousands of local fire and emergency companies with annual grants; and, provide a new stream of tax revenue to the county and local governments which host a casino,” it added.
