![]() Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! Related Links
|
Gaming News
Pennsylvania: Slot machine tax revenue increases nearly 5%4 July 2012HARRISBURG, Pennsylvania -- (PRESS RELEASE) -- The Pennsylvania Gaming Control Board reported on its web site today that tax revenue produced from the play of slot machines during the 12-month period ending June 30, 2012 totaled $1,345,087,522, an increase of 4.76% from the same period in 2010-11 when tax revenue was $1,283,992,674. To date, since the opening of the first slot machine casino in November of 2006, taxes just from slot machine play have totaled $6 billion. That revenue is used by the Commonwealth to fund homeowner property tax reduction, increased purses and benefits to personnel in the horse racing industry, economic development including water and sewer projects, local fire and emergency company grants, and the General Fund Budget. Additionally, counties and communities that host casinos receive a share of tax revenue. Pennsylvania taxes gross revenue from slot machines at 55%. “We are pleased with the annual slot machine revenue figures and optimistic about the future success of Pennsylvania casinos,” said Board Chairman William H. Ryan, Jr. “At the same time, we are fully aware that bordering states will provide more competition for gaming entertainment dollars which can affect the level of growth we are seeing.” Ryan added that the gaming industry in Pennsylvania employs more than 16,000 people and spends hundreds of millions of dollars annually to purchase goods and services from other Pennsylvania businesses. State Fiscal Years (July 1 – June 30) Gross Slot Machine Revenue Tax Revenue from Slot Machines* State Fiscal Year 2006/2007 $454,579,635.83 $250,018,897.55 State Fiscal Year 2007/2008 $1,404,753,259.04 $772,614,292.75 State Fiscal Year 2008/2009 $1,754,002,790.46 $964,701,535.35 State Fiscal Year 2009/2010 $2,164,839,765.25 $1,190,592,416.75 State Fiscal Year 2010/2011 $2,346,641,868.90 $1,283,992,674.45 State Fiscal Year 2011/2012 $2,476,775,316.80 $1,345,087,522.14
There was also an uptick in the measurement of revenue from slot machines for just the 10 casinos operating in June 2012 that were also open for the full month of June 2011. That increase was 4.45% with $201,656,332 generated this year compared to $193,055,883 in June of last year. Gross revenue for each of the casinos operating in June 2012 is as follows, with the percentage change reflected for those casinos that were operating in June of both years: Casino June 2012 June 2011 % change Parx Casino $31,883,939.98 $29,793,416.98 7.02% Rivers Casino $23,618,170.81 $22,164,864.83 6.56% Sands Casino Resort Bethlehem $23,476,901.76 $22,248,231.46 5.52% Harrah's Philadelphia Casino and Racetrack $21,229,054.18 $21,321,018.00 -0.43% The Meadows Racetrack and Casino $20,490,083.96 $20,074,676.16 2.07% Hollywood Casino at Penn National Racecourse $20,017,230.68 $19,987,592.21 0.15% Mohegan Sun at Pocono Downs $19,931,119.09 $17,894,153.55 11.38% SugarHouse Casino $15,749,837.52 $13,600,836.19 15.80% Mount Airy Casino Resort $12,797,578.17 $12,203,477.98 4.87% Presque Isle Downs and Casino $12,462,415.93 $13,767,615.29 -9.48% Valley Forge Casino Resort $3,439,880.97 n/a n/a Statewide Total $205,096,213.05 $193,055,882.65 6.24% The average number of operating slot machines throughout Pennsylvania at the 11 casinos was 26,785 in June 2012 compared to 26,390 at 10 casinos in June 2011. |