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PA Gaming Control Board Reports Slight Rise in Slot Machine Revenue During 2014/2015 Fiscal Year



HARRISBURG, Pa., July 2, 2015 /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 2015 and for the state Fiscal Year 2014/2015.

Bolstered by a 2.7% increase in slot machine revenue generated at casinos during June of this year compared to the previous June, slot machine revenue also grew during a full fiscal year for the first time since Fiscal Year 2011/2012. In the 12-month period that ended June 30, 2015, slot machine gross revenue was $2,335,787,919 compared to $2,319,890,598 during the 2013/2014 Fiscal Year.  Tax revenue produced through slot machine play during the 2014/2015 Fiscal Year totaled $1,247,016,899.

These figures do not include revenue and tax generation during the Fiscal Year from table games.  Total casino gaming revenue figures for the 2014/2015 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 $9.9 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 Revenue from

Slot Machines

Tax Revenue from

Slot Machines*

2006/2007

$454,579,636

$250,018,898

2007/2008

$1,404,753,259

$772,614,293

2008/2009

$1,754,002,790

$964,701,535

2009/2010

$2,164,839,765

$1,190,592,417

2010/2011

$2,346,641,869

$1,283,992,674

2011/2012

$2,476,775,317

$1,345,087,522

2012/2013

$2,428,887,430

$1,308,622,258

2013/2014

$2,319,890,598

$1,241,218,137

2014/2015

$2,335,787,919

$1,247,016,899

*Tax revenue in this chart does not include approximately $335 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 $9.9 billion.

The Board is also providing year-over-year slot machine gross revenue comparison for each casino for the 2014/2015 and 2013/2014 Fiscal Years:

Casino

Gross Revenue

Gross Revenue

FY 2013/14

%
change

FY 2014/15

Parx Casino

$370,535,323

$354,730,245

4.46%

Sands Casino Resort Bethlehem

$288,926,219

$280,390,252

3.04%

Rivers Casino

$277,902,931

$277,076,321

0.30%

Harrah's Philadelphia Casino and Racetrack

$218,881,871

$219,032,865

-0.07%

Hollywood Casino at Penn National Race Course

$215,164,502

$216,765,149

-0.74%

The Meadows Casino

$214,000,719

$220,846,999

-3.10%

Mohegan Sun Pocono

$212,316,779

$219,010,030

-3.06%

SugarHouse Casino

$175,884,400

$175,787,872

0.05%

Mount Airy Casino Resort

$139,188,622

$140,844,660

-1.18%

Presque Isle Downs and Casino

$117,034,655

$123,477,553

-5.22%

Valley Forge Casino Resort

$76,752,504

$68,585,606

11.91%

Lady Luck Casino Nemacolin

$29,199,394

$23,343,047

25.09%

Statewide Total

$2,335,787,919

$2,319,890,598

0.69%

Additionally, the Board placed on its web site its monthly slot machine revenue report that showed the 12 operating casinos generated $192,060,510 in gross revenue during June of this year, an increase of 2.7% compared to June 2014. Gross revenue for each of the casinos operating in June 2015 is as follows, with the percentage change from June of the previous year:

Casino

June 2015

June 2014

% change

Parx Casino

$30,143,975.36

$28,314,600.79

6.46%

Sands Casino Resort Bethlehem

$23,886,150.73

$22,482,707.67

6.24%

Rivers Casino

$22,784,321.02

$21,470,636.33

6.12%

The Meadows Casino

$18,168,494.42

$18,118,379.78

0.28%

Mohegan Sun Pocono

$17,651,944.86

$17,867,953.15

-1.21%

Hollywood Casino at Penn National Race Course

$17,494,569.75

$17,521,290.15

-0.15%

Harrah's Philadelphia Casino and Racetrack

$17,406,507.13

$17,244,655.69

0.94%

SugarHouse Casino

$13,742,321.91

$13,750,648.04

-0.06%

Mount Airy Casino Resort

$11,516,254.81

$12,153,594.28

-5.24%

Presque Isle Downs and Casino

$10,261,619.45

$9,831,000.65

4.38%

Valley Forge Casino Resort

$6,342,534.16

$6,122,388.59

3.60%

Lady Luck Casino Nemacolin

$2,661,816.37

$2,151,476.18

23.72%

Statewide Total

$192,060,509.97

$187,029,331.30

2.69%

The average number of operating slot machines this June at the 12 casinos was 26,388 compared to 26,400 in June 2014. 

About the Pennsylvania Gaming Control Board:
The Pennsylvania Gaming Control Board was established in 2004 and is tasked to oversee all aspects of the state's casino industry. There are 10 stand-alone and racetrack casinos in operation, along with the two resort casinos. These facilities collectively employ over 17,000 people and generate an average of $3.7 million per day in tax revenue from slot machine and table games play. The largest portion of that money is used for property tax reduction to all Pennsylvania homeowners with additional tax revenue going to the horse racing industry, economic development projects, fire companies, county fairs, water and sewer projects, the Commonwealth's General Fund, and to local governments that host casinos.

Additional information about both the PGCB's regulatory efforts and Pennsylvania's gaming industry can be found at www.gamingcontrolboard.pa.gov. You can also follow the agency on Twitter by choosing @PAGamingControl.

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

 

SOURCE Pennsylvania Gaming Control Board


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News published on 2 july 2015 at 15:30 and distributed by: