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Pennsylvania Gaming Control Board releases table games revenue figures for July20 August 2012HARRISBURG, Pennsylvania -- (PRESS RELEASE) -- The Pennsylvania Gaming Control Board today posted on its website the revenue figures for July table games play at the eleven operating casinos. With an average of 1,037 tables in daily operation statewide during July, gross revenue from the play of all table games was $56,482,941. That amount was 1.8% higher than in July 2011 when revenue totaled $55,475,411 with an average of 911 tables operating on a daily basis. The Board noted, as it did when July slot revenue figures were released earlier this month, that the July 2011 figure included a fifth full weekend (Friday through Sunday) of business compared to just four full weekends in July of this year. Even with the gross revenue increase, the Board reported that the $7,485,074 in tax revenue generated for the Commonwealth’s General Fund from table games this July was 4% lower than tax revenue from July of last year. The Board explained that in addition to the extra weekend in 2011, the tax revenue decrease can also be attributed to the first month of a planned reduction in the state tax rate for table games from 14% to 12%. Under amendments to the PA Race Horse Development and Gaming Act that permitted the addition of table games at Commonwealth casinos, the tax rate is reduced 2% on the two-year anniversary date of the commencement of table games operations. This means that the nine casinos which began table games operations in July 2010 saw a reduction in its tax rate this July. SugarHouse Casino (table games operation commenced September 23, 2010) and Valley Forge Casino Resort (table games operation commenced March 31, 2012) will continue to be taxed at a 14% rate until their two-year period is up. In addition, table games contributed tax revenue to the Local Share Fund of $1,129,659 during July. That tax rate remains at 2%. A detailed breakdown of revenue by casino can be found on the PGCB website. The report includes information on each casino by non-banked, banked and electronic tables including gross revenue, taxes generated and the number of table games in operation. In addition to this report, the Board also posts monthly slot machine revenue reports on its web site. |