Annual Report On Casino Gaming’s Impact On PA’s Horse Racing Industry Published By PA Gaming Control Board
HARRISBURG, PA: Slot machine gaming in Pennsylvania generated $246 million to support the state’s horse racing industry, according to the Pennsylvania Gaming Control Board’s annual Racetrack Casino Benchmark Report, released today.
The report, which covers calendar year 2015, is the 9th compiled by the Gaming Control Board detailing the impact of Pennsylvania casinos on the state’s horse racing industry.
In accordance with the Pennsylvania Race Horse Development and Gaming Act, approximately 11% of revenue generated from slot machine gaming is earmarked for the racing industry and agricultural initiatives. The 2015 figure represents a 1.6% increase over 2014. This revenue is distributed to both the thoroughbred and standardbred racing industries to enhance purses, assist breeding operations, and provide health and pension benefits for horsemen.
“An uptick in 2015 in the amount of slot machine revenue generated by casinos over the previous year led to a distribution of nearly $3.8 million more to the Race Horse Development Fund,” says the PGCB’s Director of the Office of Racetrack Gaming, Kevin Kile. “This revenue, combined with more than $65 million in backstretch improvements since 2006, has provided enhanced conditions for personnel who work and reside in and around the stable and backside areas of the racetracks.”
The report, along with the accompanying detailed statistical summary, is available through download from the Gaming Control Board’s website, gamingcontrolboard.pa.gov. The report provides 2015 and 5-year historical information on:
· Slot machine revenue;
· Race Horse Development Fund distributions;
· Attendance at Pennsylvania’s racetracks;
· Backstretch improvements;
· Breeding of both thoroughbred and standardbred horses;
· Number of live races held in Pennsylvania;
· Number of horses competing;
· Purses paid; and
· Live racing handle.
About the Pennsylvania Gaming Control Board:
The Pennsylvania Gaming Control Board was established in 2004 and is tasked to oversee all aspects of the state’s casino industry. There are 10 stand-alone and racetrack casinos in operation, along with the two resort casinos. These facilities collectively employ over 17,000 people and annually generate more than $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 with additional tax revenue going to the horse racing industry, economic development projects, fire companies, county fairs, water and sewer projects, the Commonwealth’s General Fund, and to local governments that host casinos.
Additional information about both the PGCB’s regulatory efforts and Pennsylvania’s casino gaming industry can be found at www.gamingcontrolboard.pa.gov. You can also follow the agency on Twitter by choosing @PAGamingControl.
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