Pennsylvania Reports Increased Slot Revenue from Casinos
Pennsylvania casinos showed modest growth in slot revenue over the last fiscal year, generating over $1 billion in tax revenue for the state again this year.
The Pennsylvania Gaming Control Board reported that slot machine revenue for the 2018-19 fiscal year increased 1.1% overall compared to last year’s reporting period, 2017-18.
Pennsylvania’s fiscal year starts July 1 and ends June 30.
The data was released and distributed in a recently published report at the Pennsylvania Gaming Control Board’s website which also provides monthly revenue figures for all 12 Pennsylvania casinos throughout the year.
Biggest Winners Include Valley Forge, Rivers and Parx
Boasting 600 slot machines to go along with 50 live gaming tables and 486 rooms, Valley Forge Casino and Resort was the biggest winner this year in terms of gross slot revenue compared to what happened during the last reporting period.
Located just 20 miles northwest of Philadelphia in King of Prussia, Valley Forge’s gross slot revenue increased by 11.06% during the 2018-19 fiscal year, from $86,686,698 to $96,278,435. Next closest in terms of percentage growth was Rivers Casino, located 300 miles across the state in Pittsburgh.
Rivers Casino, which boasts over 3,000 slot machines, along with 100 table games and a 30-table poker room, enjoyed a 6.15% growth in gross slot revenue over the last fiscal year, from $274,238,465 in 2017-19 to $291,107,335 in the new reporting period.
Parx Casino and Racetrack in Erie enjoyed the next biggest growth in terms of percentage, but also maintained its position as the state’s highest-grossing slot machine revenue generator. Parx grew from $400,733,138 to a whopping $416,890,976 in 2018-19, which was an increase of 4.03% over the last fiscal year.
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Slot Machines Generate Over $1 Billion for 10 Years
Slot machine play continues to be a huge tax revenue generator for the state.
The tax revenue collected from slot machines across the state was over $1 billion for the tenth straight year. Since opening its first casino back in November of 2006, overall revenue from slot machine play has totaled $27 billion which has resulted in a gross tax revenue generation of $14.5 billion for Pennsylvania’s governmental coffers.
Over the last decade, slot machine play has generated over $1 billion in tax revenue every year. The first time tax revenue eclipsed the $1 billion mark was 2009-10. Every year since slot machines have grossed overall revenue of at least $2.1 billion every year resulting in tax generation of at least $1.1 billion.
Meanwhile, gross slot machine play revenue for 2018-19 grew slightly overall from $2,352,320,937 to $2,378,859,341. The tax revenue generated from slot machine play in the state also saw a slight uptick from $1,192,851,503 during 2017-19 to $1,237,085,077 for the new reporting period.
With Pennsylvania set to see online and mobile casinos launching soon, one can expect the revenue to keep increasing.
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