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PA Slot Machine Revenue Decreases Slightly in Fiscal Year



          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
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