PA Slot Machine Revenue Decreases Slightly in Fiscal Year PR Newswire HARRISBURG, Pa, July 2, 2013 11 casinos' revenue generation again exceeds $2.4 billion HARRISBURG, Pa, July 2, 2013 /PRNewswire-USNewswire/ --The Pennsylvania Gaming Control Board reported on its web site today that, despite a drop of nearly 2%, gross revenue from the play of slot machines topped $2.4 billion for the second straight Fiscal Year. In the 12-month period that ended June 30, 2013, slot machine revenue was $2,428,840,653 from the 11 casinos, a drop of 1.94% from the $2,476,775,316 generated from slot machines during the 2011-2012 Fiscal Year. The 2012-2013 numbers were generated with an average daily number of 26,326 slot machines in operation this Fiscal Year compared to 26,495 in the last Fiscal Year. Tax revenue produced from the play of slot machines during the 2012-2013 Fiscal Year 12-month period ending June 30, 2013 totaled $1,308,597,069 compared to $1,345,087,522 in the last Fiscal Year. Pennsylvania taxes gross revenue from slot machines at approximately 55%. To date, since the opening of the first slot machine casino in November of 2006, taxes just from slot machine play have totaled nearly $7.4 billion. Tax revenue form slot machines is designated under the Gaming Act to fund homeowner property tax reduction; increase purses and provide health and pension benefits to personnel in the horse racing industry; provide revenue toward economic development projects statewide including water and sewer projects; assist thousands of local fire and emergency companies with annual grants; and, provide a new stream of tax revenue to the county and local governments which host a casino. Additionally, at the close of the Fiscal Year, the gaming industry in Pennsylvania is employing approximately 16,500 people and casinos have also spent hundreds of millions of dollars during that period to purchase goods and services from other Pennsylvania businesses. Below is a comparison of the statewide slot machine revenue for each Fiscal Year since casinos opened in Pennsylvania: State Fiscal Years (July 1 – Gross Slot Machine Revenue Tax Revenue from Slot June 30) Machines* State Fiscal Year 2006/2007 $454,579,636 $250,018,898 State Fiscal Year 2007/2008 $1,404,753,259 $772,614,293 State Fiscal Year 2008/2009 $1,754,002,790 $964,701,535 State Fiscal Year 2009/2010 $2,164,839,765 $1,190,592,417 State Fiscal Year 2010/2011 $2,346,641,869 $1,283,992,674 State Fiscal Year 2011/2012 $2,476,775,317 $1,345,087,522 State Fiscal Year 2012/2013 $2,428,840,653 $1,308,597,069 *Tax revenue in this chart does not include approximately $238 million of Local Share Assessment "true-ups" that are assessed to assure that promised revenue per the Gaming Act is disbursed to the communities that host a casino. The addition of the "true-up" tax brings total tax revenue from slot machines to $7 billion. The Board is also providing year-over-year slot machine gross revenue comparison for each casino for the 2012/2013 and 2011/2012 Fiscal Years: Casino Gross Revenue FY Gross Revenue FY % change 2012/13 2011/12 Parx Casino $376,418,086 $387,956,886 -2.97% Sands Casino Resort Bethlehem $290,903,382 $286,150,525 1.66% Rivers Casino $283,332,873 $283,419,178 -0.03% Harrah's Philadelphia Casino and $249,568,812 $263,570,464 -5.31% Racetrack The Meadows Racetrack and Casino $240,805,246 $251,394,163 -4.21% Hollywood Casino at Penn National $238,200,029 $250,483,812 -4.90% Racecourse Mohegan Sun at Pocono Downs $224,326,145 $238,742,670 -6.04% SugarHouse Casino $184,283,208 $189,816,592 -2.92% Mount Airy Casino Resort $146,594,808 $148,538,159 -1.31% Presque Isle Downs and Casino $138,463,135 $164,887,107 -16.03% Valley Forge Casino Resort $55,944,930 $11,815,759* n/a Statewide Total $2,428,840,653 $2,476,775,317 -1.94% *opened 3/31/12 so figures are for approx. 3 months Additionally, the Board placed on its web site its monthly slot machine revenue report that showed the 11 operating casinos generated $199,035,276 in gross revenue during June of this year, a 2.96% decrease compared to June 2012. Gross revenue for each of the casinos operating in June 2013 is as follows, with the percentage change from June of the previous year: Casino June 2013 June 2012 % change Parx Casino $31,045,136.84 $31,883,939.98 -2.63% Sands Casino Resort Bethlehem $23,600,544.05 $23,476,901.76 0.53% Rivers Casino $22,948,919.46 $23,618,170.81 -2.83% The Meadows Racetrack and Casino $20,185,979.04 $20,490,083.96 -1.48% Hollywood Casino at Penn National $20,017,091.17 $20,017,230.68 0.00% Racecourse Harrah's Philadelphia Casino and $19,706,819.21 $21,229,054.18 -7.17% Racetrack Mohegan Sun at Pocono Downs $18,444,655.21 $19,931,119.09 -7.46% SugarHouse Casino $14,338,816.97 $15,749,837.52 -8.96% Mount Airy Casino Resort $11,866,643.07 $12,797,578.17 -7.27% Presque Isle Downs and Casino $11,768,243.60 $12,462,415.93 -5.57% Valley Forge Casino Resort $5,112,427.76 $3,439,880.97 48.62% Statewide Total $199,035,276.38 $205,096,213.05 -2.96% The average number of operating slot machines this June at the 11 casinos was 26,005 compared to 26,785 in June 2012. The Board will provide total gaming revenue figures for the 2012-2013 Fiscal Year in approximately two weeks when June table games figures become available. About the Pennsylvania Gaming Control Board: The Pennsylvania Gaming Control Board was established in 2004 with the passage of Act 71, also known as the Race Horse Development and Gaming Act. Pennsylvania's first new state agency in nearly 30 years, the Gaming Control Board is tasked to oversee all aspects of the state's casino industry. The 11 casinos in operation all offer both slot machine and table game gambling, employ over 16,000 people, and collectively generate an average of $4 million per day in tax revenue. A portion of that money is used for property tax reduction to all Pennsylvania homeowners; provide funds to the Commonwealth's horse racing industry, fire companies, a statewide water and sewer project grant program, and the state's General Fund; and, established a new stream of tax revenue to local governments that host casinos for community projects. A wealth of information about the Gaming Control Board's regulatory efforts and Pennsylvania's gaming industry can be found at www.gamingcontrolboard.pa.gov. At this website, visitors can watch Board meetings live or view videos of past meetings, look up future meeting schedules and past meeting transcripts, obtain information on identifying a gambling problem and gaining assistance, access an interactive map of casino locations, request a speaker for their group, along with much more information. You can also follow the agency on Twitter by choosing @PAGamingControl. CONTACT: Doug Harbach or Richard McGarvey (717) 346-8321 SOURCE Pennsylvania Gaming Control Board Website: http://www.pgcb.state.pa.us
PA Slot Machine Revenue Decreases Slightly in Fiscal Year
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