 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! Related Links
|
Gaming News
PA slot machine revenue decreases slightly in fiscal year3 July 2013HARRISBURG, Pennsylvania --(PRESS RELEASE) -- The Pennsylvania Gaming Control Board reported on its web site today that, despite a drop of nearly 2%, gross revenue from the play of slot machines topped $2.4 billion for the second straight Fiscal Year. In the 12-month period that ended June 30, 2013, slot machine revenue was $2,428,840,653 from the 11 casinos, a drop of 1.94% from the $2,476,775,316 generated from slot machines during the 2011-2012 Fiscal Year. The 2012-2013 numbers were generated with an average daily number of 26,326 slot machines in operation this Fiscal Year compared to 26,495 in the last Fiscal Year. Tax revenue produced from the play of slot machines during the 2012-2013 Fiscal Year 12-month period ending June 30, 2013 totaled $1,308,597,069 compared to $1,345,087,522 in the last Fiscal Year. Pennsylvania taxes gross revenue from slot machines at approximately 55%. To date, since the opening of the first slot machine casino in November of 2006, taxes just from slot machine play have totaled nearly $7.4 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. Additionally, at the close of the Fiscal Year, the gaming industry in Pennsylvania is employing approximately 16,500 people and casinos have also spent hundreds of millions of dollars during that period to purchase goods and services from other Pennsylvania businesses. |