Subject: ECO
Pennsylvania Gaming Control Board Reports October Fantasy Sports Contests Revenue
HARRISBURG, Pa., Nov. 19, 2018 /PRNewswire/ -- The Pennsylvania Gaming Control Board today posted on its web site the October 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 tax revenue due to the Commonwealth. The report can be found at www.gamingcontrolboard.pa.gov.
Fantasy adjusted revenue for October is $2,902,863 compared to adjusted revenue of $2,133,714 in September.
Tax revenue is derived through a 15% assessment on the adjusted revenue reported by the Fantasy Sports Contest Operators and is deposited into the Commonwealth General Fund. This resulted in tax revenue generated during October of $435,429. Seven of the Fantasy Sports Contest Operators reported tax revenue due.
Fantasy Sports revenue and tax revenue for each of the providers for October 2018 is displayed in the following table:
Fantasy Sports Contest Provider | Oct. 2018 Fantasy | Oct. 2018 State Tax Due |
DraftKings | $1,545,151.83 | $231,772.78 |
FanDuel | $1,249,989.98 | $187,498.50 |
Sportshub Technologies | $41,571.73 | $6,235.76 |
DRAFT | $36,592.23 | $5,488.83 |
Yahoo Fantasy Sports | $22,117.96 | $3,317.69 |
Fantasy Draft | $5,979.67 | $896.95 |
Boom Fantasy | $1,459.57 | $218.94 |
Full Time Fantasy Sports | $0.00 | $0.00 |
Fantasy Football Players Championship | $0.00 | $0.00 |
Total | $2,902,862.97 | $435,429.45 |
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. To date, the PGCB regulates the play within the Commonwealth of Fantasy Sports Contests along with one casino operator offering Sports Wagering. Additional new gaming initiatives are expected to launch in the coming months.
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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