Pennsylvania Casino Table Game Revenues Halt Five-Month Slide, Slots Still Slipping
In fact, figures released by the Pennsylvania Gaming Control Board last week showed statewide gross gaming revenues reached $289,527,922. That represents an increase of 0.12 percent over the month of March 2016.
Gross slot machine revenues were down 0.6 percent, dropping to $209,984,147. However, gross revenue from table games were up two percent over the same month last year. These numbers hit $79,543,775 and ensured total gaming revenues would not go down for the sixth straight month.
In fact, gross table game revenues in March 2017 marked the highest ever recorded in Pennsylvania. The previous high was reached in March 2016.
There were 1,231 table games and an average of 26,222 slot machines in operation across Pennsylvania last month.
$124 million in gambling tax revenue
The state continued to be the largest beneficiary of all that gaming revenue. In fact, thanks to its 54 percent tax on slot machine revenues, the state collected $111,796,500 in tax revenue from Pennsylvania slot machines last month.
The tax on table games is a much smaller 16 percent. However, the state still managed to pull in $12,837,539 in tax revenue from Pennsylvania table games.
The total tax revenue collected by the state from Pennsylvania casinos in March was $124,634,039.
The PGCB claims the state’s 10 stand-alone and racetrack casinos, and two smaller resort casinos, generate approximately $1.4 billion in tax revenues annually. The biggest portion of that tax revenue is said to go to help reduce property taxes for Pennsylvania homeowners.
Parx Casino leads the way
Parx Casino continued to lead the industry despite its total gaming revenue dipping 0.56 percent to $49,711,842 in March.
Sands Casino Resort Bethlehem finished a strong second to Parx last month. Its total gaming revenues increased 3.09 percent to $48,369,570.
Hollywood Casino at Penn National Race Course saw the biggest jump in total revenues, going up 5.79 percent to $23,288,463.
Meanwhile, Mohegan Sun Pocono saw the biggest drop in total gaming revenue. Its revenue numbers fell 7.09 percent to $21,862,366.
Increased gaming revenues possible in PA
State lawmakers are still considering a number of gambling expansion measures which could increase gaming revenues across the board. This includes the introduction of online gambling.
Last week, the Pennsylvania Senate Community Economic & Recreational Development Committee passed a bill that would authorize tablet-based gambling at airports across the state. The bill had previously passed through the PA House of Representatives.
However, the bill is being looked at as one that could ultimately be amended to include a number of gambling expansion measures. This would presumably include online poker, online casinos, and daily fantasy sports. The bill was sent back to Senate committee for further amendments.