Gambling Business: Pennsylvania Slot Revenue Declines In The Month Of JulyNine Out Of 11 Casinos Experience A Downswing |
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The Pennsylvania Gaming Control Board reported Friday that July gross revenue from slot machine play at the state’s 12 casinos was a disappointing $204,909,480.
The amount marked a 3.7-percent decrease when compared to July 2012. That month had revenues from slots at $212,871,83 and also one less casino.
Overall, nine of the 11 casinos experienced a drop-off.
Harrah’s Philadelphia Casino and Racetrack experienced a 14.57-percent slide, which was the largest. Valley Forge Casino Resort saw a 57.32-percent gain.
Pennsylvania’s 12 casinos all offer both slot machine and table game gambling, employ more than 16,000 people, and collectively generate an average of $4 million per day in tax revenue, according to a press release from the state’s Gaming Control Board.
The tax revenue structure is as follows:
Slot machines: 55-percent tax — 34 percent to state gaming fund, 12 percent to horse racing industry, 5 percent to economic development, 4 percent to local and county governments; Table games: 16-percent tax — 14 percent to general fund, 2 percent to local county municipalities.
Pennsylvania legalized casinos in 2004, and the first one opened three years later.
Overall, the casinos bring in about $3.1 billion per year, second-best in the nation.
For more news from Pennsylvania, check out its state page.
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