April Slot Machine Revenue Up 30% Over Previous Year
HARRISBURG, PA: Slot machine-generated revenue in Pennsylvania increased by approximately 30% during April of 2010 compared to revenue in April of 2009.
Figures released today by the Gaming Control Board show that the nine slot machine facilities operating in Pennsylvania during April of this year collectively generated $195,253,066 in gross revenue, compared to $150,658,363 in April of 2009 when seven casinos were in operation. That is an increase of 29.60%.
Under Pennsylvania’s 55% tax rate, the play of slot machines created a return to Commonwealth citizens in April of this year of $107,389,186, an average of $3.58 million per day in tax collections.
For the first 10 months of the state fiscal year, slots tax revenues are up 26.6% compared to the previous year, or $981,850,867 in 2009/10 compared to $775,770,961 in the same period in the 2008/09 fiscal year. Operators’ revenue thus far in the fiscal year is $803,458,808.
The seven casinos operating in both April of 2009 and April of 2010 also showed a revenue increase of 1.7%, $153,217,512 in 2010 compared to $150,658,363 in 2009.
“This is a very exciting time within Pennsylvania’s gaming industry as slot machine revenue continues to perform well and casinos are gearing up to expand their offerings into table games,” says Gaming Control Board Executive Director Kevin O’Toole.
Approximately two-thirds of tax revenue is dedicated toward general property tax reduction for Pennsylvania homeowners. On April 15th, the Pennsylvania budget Secretary certified general property tax reduction funded by slot machine gaming for a third straight year. It is anticipated that the average Pennsylvania homeowner who has signed up for the Homestead Exemption through their county will see their local school tax bill reduced by nearly $200.
Tax revenue from slot machine gaming is also used for major economic development and tourism projects in Pennsylvania, funding of road, safety and community improvement projects in the municipalities and counties that surround the casino locations, grants for local volunteer fire companies, and to support Pennsylvania’s horse and harness racing industries.
Gross revenue for each of the casinos operating in April 2010 are as follows with percentage change reflected for those casinos that were operating in both years:
|Casino||April 2010||April 2009||% change|
|parx casino (Philadelphia Park Racetrack)||$35,264,243.78||$31,122,400.89||13.31%|
|Harrah's Chester Casino and Racetrack||$26,731,923.00||$27,639,292.32||-3.28%|
|Hollywood Casino at Penn National Racecourse||$22,491,559.67||$20,350,353.45||10.52%|
|The Meadows Racetrack and Casino||$21,698,378.04||$22,680,895.71||-4.33%|
|Sands Casino Resort Bethlehem||$21,595,979.61||(NOT OPEN APRIL 2009)||--|
|Rivers Casino||$20,439,575.16||(NOT OPEN APRIL 2009)||--|
|Mohegan Sun at Pocono Downs||$19,284,699.65||$18,842,412.23||2.35%|
|Presque Isle Downs and Casino||$15,613,903.35||$14,760,289.91||5.78%|
|Mount Airy Casino Resort||$12,132,804.52||$15,262,718.78||-20.51%|
|Statewide Total ||$195,253,066.78||$150,658,363.29||29.60|
The average number of slot machines operating daily at the nine casinos was 24,851 in April 2010 compared to 17,350 in April 2009.
The Gaming Control Board provides weekly and monthly casino revenue reports on its web site, www.pgcb.state.pa.us. In addition, videos and information on the operation of the PGCB, problem gambling efforts and avenues for 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.
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