New Casinos Spur 20 Percent Revenue Increase In August
HARRISBURG, PA: The amount of gross revenue generated in August 2009 through the play of slot machines at nine casinos rose 19.8% over the previous year, according to figures released today by the Pennsylvania Gaming Control Board.
The nine casinos in August 2009 generated $186,936,232 in gross revenue compared to $156,052,262 in August 2008 when seven casinos were in operation. Taxes in August, based on the 55% rate, were $102,789,443, an average of $3.32 million per day returned to Pennsylvania taxpayers. The casinos collectively retained $84,146,789.07 of the gross revenue for the month.
Board Chairman Greg Fajt says the ability for the Commonwealth to bring two more casinos online over the past three months contributed to this continued increase.
"With the opening of both the Sands Casino Resort Bethlehem and the Rivers Casino in Pittsburgh during the summer, tax revenue from slot play that is earmarked toward lowering property taxes for our homeowners is accelerating," says Fajt.
Fajt also notes that the opening of these two casinos created 2,045 new jobs, with the vast majority going to Pennsylvania residents.
"In a period where Pennsylvania has lost a tremendous amount of jobs, legalized gaming has been a job creation bright spot now employing over 8,000 individuals with an additional 8,000 construction jobs created to build these facilities," Fajt says.
Fajt adds that the Board will continue to work over the next two years to open the two licensed Philadelphia casinos and license two other facilities allowed under the Gaming Act that will result in continued increases in both revenue and job numbers.
The overall increase in revenue occurred even though the amount of gross revenue generated in August 2009 through the play of slot machines at the seven casinos that were also operating in August of the previous year declined -3.54%.
Comparative gross terminal revenue for each of the casinos operating in both August 2008 and August 2009 are as follows:
|Casino||August 2009||August 2008||% change|
|Philadelphia Park Casino and Racetrack||$30,312,468.47||$31,587,159.80 ||-4.04%|
|Harrah's Chester Casino and Racetrack||$25,709,960.86||$28,831,904.85||-10.83%|
|The Meadows Racetrack and Casino||$25,445,174.17||$22,000,654.39||15.66%|
|Hollywood Casino at Penn National Racecourse||$20,365,617.89||$18,416,204.34||10.59%|
|Mohegan Sun at Pocono Downs||$19,287,503.53||$20,285,457.66||-4.92%|
|Presque Isle Downs and Casino||$14,954,500.48||$17,037,448.14||-12.23%|
|Mount Airy Resort and Casino||$14,460,453.24||$17,893,433.35||-19.19%|
|The Sands Casino Resort Bethlehem|
opened May 22, 2009
|Rivers Casino |
opened August 9, 2009
The average number of operating slot machines at these facilities was 16,794 in August 2008 and 24,329 in August 2009.
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.
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