PA Gaming Control Board Reports Fiscal Year Revenue Figures for Slot Machine Play - Siouxland News - KMEG 14 and FOX 44

PA Gaming Control Board Reports Fiscal Year Revenue Figures for Slot Machine Play

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SOURCE Pennsylvania Gaming Control Board

12 casinos' tax revenue generation is over $1.2 billion

HARRISBURG, Pa., July 2, 2014 /PRNewswire-USNewswire/ -- The Pennsylvania Gaming Control Board today provided figures for gross revenue and tax generation for slot machine play during the month of June 2014 and for the state Fiscal Year 2013-2014.

After a drop in June of 6% compared to June 2013, slot machine gross revenue for the recently completed Fiscal Year was 4.5% lower than gross revenue generated last year.

In the 12-month period that ended June 30, 2014, slot machine gross revenue was $2,319,890,598 compared to $2,428,887,430 during the 2012-2013 Fiscal Year. Tax revenue produced through slot machine play during the 2013-2014 Fiscal Year totaled $1,241,218,137.

The figures released today do not include revenue and tax generation during the Fiscal Year from table games. Total casino gaming revenue figures for the 2013-2014 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 $8.35 billion. 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. 

Below is a comparison of the statewide slot machine revenue for each Fiscal Year since casinos opened in Pennsylvania:

State Fiscal Years (July 1 – June 30)

Gross Slot Machine Revenue

Tax Revenue from Slot Machines*

State Fiscal Year 2006/2007

$454,579,636

$250,018,898

State Fiscal Year 2007/2008

$1,404,753,259

$772,614,293

State Fiscal Year 2008/2009

$1,754,002,790

$964,701,535

State Fiscal Year 2009/2010

$2,164,839,765

$1,190,592,417

State Fiscal Year 2010/2011

$2,346,641,869

$1,283,992,674

State Fiscal Year 2011/2012

$2,476,775,317

$1,345,087,522

State Fiscal Year 2012/2013

$2,428,887,430

$1,308,622,258

State Fiscal Year 2013/2014

$2,319,890,598

$1,241,218,137

*Tax revenue in this chart does not include approximately $281 million of Local Share Assessment "true-ups" that are assessed to assure that promised revenue per the Gaming Act is disbursed to the communities that host a casino. The addition of the "true-up" tax brings total tax revenue from slot machines to $8.6 billion.

The Board is also providing year-over-year slot machine gross revenue comparison for each casino for the 2013/2014 and 2012/2013 Fiscal Years:

Casino

Gross Revenue

 FY 2013/14

Gross Revenue

FY 2012/13

% change

Parx Casino

$354,730,245

$376,418,086

-5.76%

Sands Casino Resort Bethlehem

$280,390,252

$290,903,382

-3.61%

Rivers Casino

$277,076,321

$283,332,873

-2.21%

The Meadows Racetrack and Casino

$220,846,999

$240,805,246

-8.29%

Harrah's Philadelphia Casino and Racetrack

$219,032,865

$249,568,812

-12.24%

Mohegan Sun at Pocono Downs

$219,010,030

$224,326,145

-2.37%

Hollywood Casino at Penn National Race Course

$216,765,149

$238,200,029

-9.00%

SugarHouse Casino

$175,787,872

$184,283,208

-4.61%

Mount Airy Casino Resort

$140,844,660

$146,594,808

-3.92%

Presque Isle Downs and Casino

$123,477,553

$138,463,135

-10.82%

Valley Forge Casino Resort

$68,585,606

$55,944,930

22.59%

Lady Luck Casino Nemacolin (opened 7/1/13)

$23,343,047

$46,777#

N/A

Statewide Total

$2,319,890,598

$2,428,887,430

-4.49%

#this figure is for two abbreviated test nights held June 28 and 30, 2013; Lady Luck Casino did not commence full operations until July 1, 2013

Additionally, the Board placed on its web site its monthly slot machine revenue report that showed the 12 operating casinos generated $187,029,331 in gross revenue during June of this year, a 6% decrease compared to June 2013.  Gross revenue for each of the casinos operating in June 2014 is as follows, with the percentage change from June of the previous year:

Casino

June 2014

June 2013

% change

Parx Casino

$28,314,600.79

$31,045,136.84

-8.80%

Sands Casino Resort Bethlehem

$22,482,707.67

$23,600,544.05

-4.74%

Rivers Casino

$21,470,636.33

$22,948,919.46

-6.44%

The Meadows Racetrack and Casino

$18,118,379.78

$20,185,979.04

-10.24%

Mohegan Sun at Pocono Downs

$17,867,953.15

$18,444,655.21

-3.13%

Hollywood Casino at Penn National Race Course

$17,521,290.15

$20,017,091.17

-12.47%

Harrah's Philadelphia Casino and Racetrack

$17,244,655.69

$19,706,819.21

-12.49%

SugarHouse Casino

$13,750,648.04

$14,338,816.97

-4.10%

Mount Airy Casino Resort

$12,153,594.28

$11,866,643.07

2.42%

Presque Isle Downs and Casino

$9,831,000.65

$11,768,243.60

-16.46%

Valley Forge Casino Resort

$6,122,388.59

$5,112,427.76

19.76%

Lady Luck Casino Nemacolin (opened 7/1/13)

$2,151,476.18

$46,776.71

N/A

Statewide Total

$187,029,331.30

$199,082,053.09

-6.05%

 

The average number of operating slot machines this June at the 12 casinos was 26,400 compared to 26,045 in June 2013. 

About the Pennsylvania Gaming Control Board:

The Pennsylvania Gaming Control Board was established in 2004 with the passage of Act 71, also known as the Race Horse Development and Gaming Act. Pennsylvania's first new state agency in nearly 30 years, the Gaming Control Board is tasked to oversee all aspects of the state's casino industry. The 12 casinos in operation all offer both slot machine and table game gambling, employ over 16,000 people, and collectively generate an average of nearly $4 million per day in tax revenue. A portion of that money is used for property tax reduction to all Pennsylvania homeowners; provide funds to the Commonwealth's horse racing industry, fire companies, a statewide water and sewer project grant program, and the state's General Fund; and, established a new stream of tax revenue to local governments that host casinos for community projects.

A wealth of information about the Gaming Control Board's regulatory efforts and Pennsylvania's gaming industry can be found at www.gamingcontrolboard.pa.gov. At this website, visitors can watch Board meetings live or view videos of past meetings, look up future meeting schedules and past meeting transcripts, obtain information on identifying a gambling problem and gaining assistance, access an interactive map of casino locations, request a speaker for their group, along with much more information.  You can also follow the agency on Twitter by choosing @PAGamingControl.

CONTACT:
Doug Harbach or Richard McGarvey
(717) 346-8321

©2012 PR Newswire. All Rights Reserved.

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