- The industry grossed a total of $261,944,189, a 0.41% Y/Y decrease and 3.34% M/M decrease
- Slots earnings were $189,527,499, down 1.21% from the previous year
- September was the first in 11 months slots revenue had increased Y/Y
- Table games took in $72,416,691, a 1.76% Y/Y increase, but a 4.22% M/M decrease
- October marks the eighth consecutive month of Y/Y table game increases
- Parx was the overall casino top earner with $45,299,488, up 1.61% Y/Y
- Parx was also biggest slots earner with $31,531,814, while Sands was the biggest table games earner with $19,194,702. Sands saw its table games revenue climb an impressive 14.06%.
- Valley Forge and Nemacolin were the only two casinos to increase slots earnings from the previous month
- The Meadows boasted 50% higher table game revenue M/M, with Mount Airy taking in over 34% more M/M
October 2017 PA revenue breakdown
Pennsylvania’s 12 casinos took in total of $261,944,180 in October, a 0.41% decrease compared with the same period last year, according to data released by the Pennsylvania Gaming Control Board this week. Slots earnings totaled $189,527,489, with table games accounting for $72,416,691.
The October slots figure represents a 1.21% year-on-year decrease, a disappointing development considering September was the first month in 11 months which slots boasted a year-over-year rise.
Parx dominates slots
Parx Casino, which plans to partner with GAN when online gambling goes live in the state, was the top earner in terms of slots revenue, taking in over $31,531,814. Sands took the second spot with $24,336,691 while Rivers took third with $21,257,150.
Third top earner Rivers, for its part, is owned by the same company behind SugarHouse (fourth place in revenue with $23,630,640 in October 2017) and will most likely open its own online casino powered by Rush Street Interactive software.
Table games enjoy eighth consecutive year-over-year bump
While last month’s PA table game revenue decreased by over $3 million from September, it still represents a 1.76% increase compared with the same time period last year. October marks the eighth consecutive month which table game revenue has beat its year-on-year figure.
Sands was by far the biggest table games winner with $19,194,702 in earnings, although it saw a 15% month-over-month drop from the over $22 million it took in in September.
Parx took the second spot with $13,767,674, an 8.55% month-over-month drop. The Meadows, which took in just $3,732,598, saw an over 50% increase in table game revenue from September. Nemacolin boasted the smallest win, with $275,442, and experienced the biggest month-over-month loss of nearly 39%.
Neither the Meadows nor Nemacolin have signaled whether it will participate in the upcoming PA online gambling market.
Table games will feature prominently in PA iGaming
The growing success of brick-and-mortar table games in PA bodes well for the state’s Internet gambling industry, mostly due to the crushing 54% tax rate which legislators will apply to online slot games. Online slots are by far the biggest iGaming revenue driver, but facing such an onerous tax reality, operators will likely be switching their focus to table games, which will be taxed at a much more reasonable rate of 16%.
We believe that the high slots tax rate will also force operators to lower payback percentages on their machines, while reducing the frequency and value of their player promotions. Casinos might also be motivated to seek out innovative table games with plentiful opportunities for side bets.
Industry totals over $2.7 billion this year
Parx remains the biggest revenue earner overall in 2017, with $474,452,699, while Sands is close on its heels with $455,735,169. In total, industry has banked over $2.7 billion this year.
Total October 2017 revenue
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Total 2017 revenue
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