With Table Games To Thank, Pennsylvania Casino Revenue Is Back On The Upswing
According to figures the Pennsylvania Gaming Control Board (PGCB) released on Tuesday, last month’s table game revenue reached $79,546,606. This represented an increase of 10.2 percent over April of last year, when revenues totaled $72,206,809.
The PGCB cited an average of 1,235 table games operating daily across the state last month.
Sands leads PA table gaming market
Sands Casino Resort Bethlehem was the state’s table game revenue leader by leaps and bounds in April, pulling in $21,905,082. This was a 23.75 percent jump over April 2016.
The Meadows Casino actually saw the biggest increase in its table game revenues. It was up an impressive 52.85 percent to $4,341,278 last month.
Earlier this month, the PGCB released numbers showing gross revenue from slot machines at the state’s 12 casinos was down 1.58 percent in April — $205,702,752, down from the $208,999,688 in April 2016.
When combined however, total gaming revenue was actually up 1.44 percent over the same month last year. It totaled $285,249,358 in April 2017 compared to $281,206,497 in 2016.
Total PA gaming revenues turning around
After five straight months of year-over-year declines, Pennsylvania casino gaming revenues turned around in March.
The story was a similar one, with slot machine revenues down 0.6 percent. But a two percent increase in table game revenues helped the industry post a 0.12 percent total gaming revenue increase over March 2016.
The April 2017 total gaming revenue leader was once again the Philadelphia area’s Parx Casino. Parx recorded total gaming revenues of $49,002,208, up 0.97 percent over April 2016.
Sands Casino Resort Bethlehem inched closer to the top spot, recording a 10.06 percent jump in total gaming revenue to $48,290,439.
Pennsylvania is still considering gambling expansion
These two months of gaming revenue gains come just as the Pennsylvania Senate is considering a comprehensive gambling expansion bill that is likely to legalize and regulate PA online poker and PA online casino games, as well as tablet gaming at specified airport locations.
The bill may also include plans to legalize video gaming terminals in bars, social clubs, and restaurants across Pennsylvania. Lawmakers could also authorize the building of up to 25 satellite casino locations in areas a fair distance from one of Pennsylvania’s 12 existing casino properties.
The details of the bill are expected to be finalized when the Senate returns from recess on May 22.
PA casino tax revenues increase
Total tax revenue from table games collected by the state were $12,859,930 last month. Taxes on table games are 16 percent in Pennsylvania. However, Pennsylvania takes a 54 percent tax on slot machine revenue, meaning the state will collect more than $111 million in slot machine taxes from last month.
The Senate is reportedly considering including similar tax rates in its expansion bill. This would see online poker operations charged 16 percent and all other casino games taxed at 54 percent. Tax rates remain the most hotly contested issue in regards to iGaming legislation.