Pennsylvania Collects Record Taxes From All Forms Of GamingOnline Betting Continues To Boom In The State |
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The Pennsylvania Gaming Control Board announced recently that the state had collected record-breaking tax revenue for the 2023-24 fiscal year. The state brought in $2.54 billion from all forms of gaming including casinos, online gaming, live and online sports betting, video gaming terminals (VGTs) at truck stops, and fantasy sports.
This state’s gaming industry saw a record combined revenue of almost $5.9 billion. The previous fiscal year highs came in 2022-23 with $5.5 billion in revenue and $2.36 billion in taxes.
Gaming taxes in the Keystone State are used for school property tax reduction, as well as state, county, and local economic development, safety, and recreational projects, support of the agricultural and horse racing industries, and as revenue toward the state’s general fund.
Here’s a look at revenue and taxes by gaming sector for the 2023-24 fiscal year:
Online casino gaming saw the biggest gains of any sector for the fiscal year, with revenue up 27.1% compared to the $1.5 billion generated in fiscal year 2022-23. When looking at all gaming platforms, Rivers Casino Pittsburgh came out as the leader in the state with $350 million. That is followed by Hollywood Casino at the Meadows with $325 million and Live! Casino in Greensburg at $115 million.
Pennsylvania gaming revenue continues to climb and that continued in June. Online casino gaming remained a key driver with monthly gross revenue of $160.6 million, up 18.6% from $135.4 million last June. Despite those figures, online poker remains mostly stagnant in Pennsylvania as well as in New Jersey.
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