Subjects: SVY, STP
Pennsylvania Gaming Control Board Issues First Monthly Fantasy Sports Contests Revenue Report
HARRISBURG, Pa., June 20, 2018 /PRNewswire-USNewswire/ -- The Pennsylvania Gaming Control Board today posted on its web site the initial Fantasy Sports Contests revenue report. The report provides a breakdown on fees collected from the play of Pennsylvania participants, Fantasy Sports Contests operators' adjusted revenue, and the tax revenue due to the Commonwealth. The report can be found on the Pennsylvania Gaming Control Board on its web site, www.gamingcontrolboard.pa.gov.
Tax revenue is derived through a 15% assessment on adjusted revenue reported by the Fantasy Sports Contest operators, and is deposited into the Commonwealth General Fund. In total, tax revenue generated during May totaled $199,755.94.
Ten Fantasy Sports Contest operators have applied to provide fantasy sports contests. Those firms are listed under the Gaming Expansion link on the Board's web site homepage.
Eight of the Fantasy Sports Contest operators reported tax revenue. The others offer specific seasonal games and either had no collected fees or could not yet calculate an adjusted revenue until payouts are made.
Fantasy Sports revenue and tax revenue for each of the providers for May 2018 is displayed in the following tables:
|
Fantasy Sports Contest Provider |
Fantasy Sports |
State |
|
FanDuel |
$673,013.94 |
$100,952.09 |
|
DraftKings |
$632,008.62 |
$94,801.29 |
|
DRAFT |
$16,992.35 |
$2,548.85 |
|
Yahoo Fantasy Sports |
$4,430.47 |
$664.57 |
|
Fantasy Draft |
$2,499.86 |
$374.98 |
|
Sportshub Technologies |
$1,590.67 |
$238.60 |
|
Boom Fantasy |
$851.42 |
$127.71 |
|
Fastpick |
$319.01 |
$47.85 |
|
Full Time Fantasy Sports |
$0.00 |
$0.00 |
|
Fantasy Football Players Championship |
$0.00 |
$0.00 |
|
Total |
$1,331,706.34 |
$199,755.94 |
*Tax revenue figures reflect amount generated prior to any adjustments by the PA Department of Revenue
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 created through amendments to the Race Horse Development and Gaming Act recently approved by 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 17,000 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 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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