Slot Machine Revenue In Pennsylvania Increases 39% In January
HARRISBURG: Pennsylvania casinos ushered in the new year by producing over $50 million more in gross revenue from slot machine play in January 2010 over the previous January, an increase of 39.24%
According to figures released today by the Pennsylvania Gaming Control Board, the nine slot machine facilities operating in Pennsylvania during January of this year collectively generated $184,214,974 in gross revenue compared to $132,303,649 in January of 2009 when seven casinos were in operation.
There was also a significant overall revenue increase of 9.6% during January for the seven casinos operating in both January 2010 and January 2009.
Based on the 55% tax rate on gross revenue, Pennsylvania citizens saw a return of $101,291,695 in January of this year, an average of $3.27 million of taxes collected per day. Approximately two-thirds of tax revenue is used to reduce property taxes. The remainder goes toward major economic development projects in Pennsylvania, funding of road, safety and community improvement projects in the municipalities and counties that surround the casino locations, local fire companies, and to assist Pennsylvania’s horse and harness racing industries.
Comparative gross terminal revenue for each of the casinos operating in both January 2009 and January 2010 are as follows:
parx Casino (Philadelphia Park Racetrack)
Harrah's Chester Casino and Racetrack
Hollywood Casino at Penn National Racecourse
Sands Casino Resort Bethlehem
The Meadows Racetrack and Casino
Mohegan Sun at Pocono Downs
Mount Airy Resort and Casino
Presque Isle Downs and Casino
The average number of operating slot machines at these facilities was 25,538 in January 2010 and 16,800 in January 2009.
Gaming Control Board Chairman Greg Fajt says the continued increase in slot gaming revenue is a result of Pennsylvania casinos’ refinement of their marketing efforts, building of their "players club" bases, and making sure that the expectations of individuals who enjoy this form of adult entertainment are met. In addition, he says the continued success of Pennsylvania casinos is also producing other benefits in the Commonwealth.
"Over 8,000 persons are working in living wage jobs at Pennsylvania casinos, jobs that simply were not in existence a few short years ago," Fajt says. "Additionally, the nine operating casinos each spent millions of dollars per month in 2009 with outside vendors for goods and services, primarily Pennsylvania companies, adding needed revenue at a time when new business is hard to come by."
Fajt says the expectation is for increased revenue and more jobs for Pennsylvanians with the addition of table games at casinos during the second half of 2010.
The Gaming Control Board provides weekly updates of casino revenue on its web site, www.pgcb.state.pa.us. In addition, videos and information on the operation of the PGCB, problem gambling efforts and assistance, future meeting schedules and past meeting transcripts, and a link to request a speaker are among the many items available to the public on the web site.
# # #