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Pennsylvania Gaming Control Board Releases Annual Report on Casino Gaming's Impact on PA's Horse Racing Industry


HARRISBURG, Pa., April 2, 2018 /PRNewswire-USNewswire/ -- The Pennsylvania Gaming Control Board today released the Annual Racetrack Casino Benchmark Report detailing the impact of Pennsylvania casinos on the Commonwealth's horse racing industry.  The report is now available for download from the PGCB's web site www.gamingcontrolboard.pa.gov.

The report includes and compares information from the 2017 calendar year. Among the report's findings is that the tax generated by the play of slot machines amount to $239 million and was earmarked for enhancements of race purses, assisting breeding operations located in Pennsylvania, providing health and pension benefits for horsemen, and to support agricultural initiatives.

The report also shows that total dollars wagered on live races held at the six racetracks operating in the Commonwealth was up 3% in 2017, exceeding $700 million. The horse racing tracks operating in conjunction with casinos in Pennsylvania are:

Thoroughbred

Harness

Additionally, the report and its accompanying detailed statistical summary, provides 5-year historical information on:

About the Pennsylvania Race Horse Development Fund
The Pennsylvania Race Horse Development and Gaming Act ("Act") states that the authorization of limited gaming is intended to positively assist the Commonwealth's horse racing industry, support programs intended to foster and promote horse breeding, and improve the living and working conditions of personnel who work and reside in and around the stable and backside areas of racetracks. The avenue utilized through the Act to assist the horse racing industry was the creation of the Pennsylvania Race Horse Development Fund which is funded by a portion (approximately 10%) of gross revenue generated from slot machine gaming from the 12 casinos.

About the Pennsylvania Gaming Control Board
The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state's casino industry, along with oversight of new gaming initiatives to the Race Horse Development and Gaming Act recently approved through the signing of Act 42 of 2017.

The Commonwealth's casino industry currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos.  These facilities collectively employ 18,000 people and annually generate approximately $1.4 billion 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.

Additional information about both the PGCB's gaming 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.

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

SOURCE Pennsylvania Gaming Control Board


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News published on 2 april 2018 at 13:35 and distributed by: