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PGCB reports tax revenue from first full year of fantasy contests19 May 2019(PRESS RELEASE) -- The Pennsylvania Gaming Control Board today posted on its website the monthly Fantasy Contests Revenue Report which includes totals from the first full year of the Commonwealth’s collection of taxes on the play of these games. The amount of revenue generated through the play of fantasy contests in the first 12 months of operation in Pennsylvania was $22,542,688. That generated $3,381,403 in tax revenue for the Commonwealth. Beginning last year, Fantasy Contest Operators in Pennsylvania were required by Act 42 of 2017 to be licensed by the Board and to pay a 15% tax on the adjusted revenues derived from Pennsylvania players. The report on the Board’s website provides a breakdown on fees collected from the play of Pennsylvania participants, the Fantasy Contest Operators’ adjusted revenue, and tax revenue collected by the Commonwealth. Fantasy Contests adjusted revenue and tax revenue for each of the providers for April 2019 and for the 12-month period is displayed in the following tables: Fantasy Contests Provider/April 2019 Fantasy Contests Adjusted Revenue/April 2019 Fantasy Contests State Tax Due DraftKings/$845,553.33/$126,833.00 FanDuel/$961,867.32/$144,280.10 DRAFT/$23,348.60/$3,502.29 Yahoo Fantasy Sports/$15,864.70/$2,379.71 Sportshub Technologies/$3,627.45/$544.12 Fantasy Draft/$1,918.83/$287.82 Boom Fantasy/$371.38/$55.71 Fantasy Football Players Championship/$0.00/$0.00 Full Time Fantasy Sports/$0.00/$0.00 Total/$1,852,551.61/$277,882.75 Fantasy Contests Provider/May 2018 - April 2019 Fantasy Contests Adjusted Revenue/May 2018 - April 2019 Fantasy Contests State Tax Due DraftKings/$11,549,460/$1,732,419 FanDuel/$10,274,886/$1,541,233 DRAFT/$320,105/$48,016 Fantasy Football Players Championship/$184,932/$27,740 Sportshub Technologies/$114,812/$17,221 Fantasy Draft/$41,103/$6,165 Yahoo Fantasy Sports/$28,128/$4,219 Full Time Fantasy Sports/$16,095/$2,414 Boom Fantasy/$12,785/$1,918 FASTPICK.COM/$381/$57 Total/$22,542,688/$3,381,403
PGCB reports tax revenue from first full year of fantasy contests
is republished from Online.CasinoCity.com.
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