After a prolonged downward trend throughout much of 2016 and 2017, outlook for PA slot machines is starting to appear more and more promising. In June, the state’s 12 gambling venues reported total slot revenue of $197,763,673 for the month, a healthy 4.9% bump over the same time period last year.
The close of June also marked the end of the PA Gaming Control Board’s 2017/2018 Fiscal Year. Slot machine revenue totaled $2.35 billion during the timeframe, approximately $16 million more than state casinos raked in during FY 2016/2017.
Winners and losers
Parx Casino was the biggest winner of the bunch for the month of June, boasting $34,848,793 for a 10.37% year-over-year increase. Parx also took the top spot overall during the most recent Fiscal Year with a $400,733,138 haul, topping its 2016/2017 figure by 3.66%.
Sands Bethlehem followed Parx with a $24,656,720 score last month, a modest 2.84% increase over June 2017. For the Fiscal Year, slot machine revenue at the casino was nearly flat, down 0.69% at $302,054,464.
The Rivers was right on Sands’ heels last month with $22,977,523 in revenue, a welcome 7.13% increase over last year. Rivers also gained ground during its Fiscal Year, enjoying a 3.35% bump in slot machine earnings compared with FY 2016/2017.
Valley Forge impresses
Category 3 casino Valley Forge has been on an upswing as of late. Not only did the venue see the highest Y/Y increase amongst its competitors last month (18.15%), but it also enjoyed the biggest Fiscal Year bump as well. During FY 2017/2018, Valley Forge banked $86,686,698, compared with $80,228,728 throughout the previous period, an 8.05% overall increase.
The impressive performance might give the resort the confidence to pursue opening its own online casino, which could feature virtual slots, table games, and even online poker. Back in 2015, it was rumored that gambling giant bwin.party (now GVC) had partnered with the venue to offer iGaming, should the industry become legal in the future. Now that it has, however, that partnership is in doubt, due to the acquisition of the company by GVC.
Add on the fact that operators must pay a $10 million licensing fee to offer a full suite of online gambling games, plus contend with a crushing 54% tax on slots, and it’s unclear if the casino will have the motivation to move forward with any previous plans.
On the other side of the coin was Lady Luck Nemacolin. The casino raked in the lowest amount in June ($2,339,080) for an 11.78% Y/Y decrease, and also came in dead last during the Fiscal Year. The venue’s $28,875,296 total represented a 4.29% contraction from the $30,170,007 it made on slots in 2016/2017.
June 2018 slot revenue
Casino Jun-18 Jun-17 % Change Parx Casino $34,848,793 $31,574,323 10.37% Sands Casino Resort Bethlehem $24,656,720 $23,976,542 2.84% Rivers Casino $22,977,523 $21,447,379 7.13% Hollywood Casino at Penn National Race Course $17,401,373 $17,120,703 1.64% The Meadows Casino $17,309,316 $17,022,395 1.69% Harrah's Philadelphia Casino and Racetrack $16,677,142 $16,066,563 3.80% Mohegan Sun Pocono $16,164,708 $16,711,709 -3.27% SugarHouse Casino $14,706,899 $14,014,673 4.94% Mount Airy Casino Resort $12,853,288 $12,172,906 5.59% Presque Isle Downs and Casino $10,269,029 $9,363,604 9.67% Valley Forge Casino Resort $7,559,802 $6,398,590 18.15% Lady Luck Casino Nemacolin $2,339,080 $2,651,365 -11.78% Statewide Total $197,763,672 $188,520,750 4.90%
Fiscal year totals
In the 12 years that slots have been operating legally in PA, operators have grossed a total of $24.8 billion from the vertical. FY 2011/2012 holds the record for slot machine earnings, coming in at $2.47 billion, compared with the $2.35 billion made during the most recent FY.
The state, which will tax online slot machines at the same eye-watering 54% rate, is a big winner as well. Since 2006, Commonwealth casinos have fed approximately $13.3 billion to regulators, money which mainly goes toward reducing property taxes and gives relief of about $200 per household.
In June, there were 25,737 slot machines in operation at PA casinos, compared with 25,685 terminals in use last year.
Fiscal Year 2017/2018 slot totals
|Casino||Gross Revenue FY 2017/2018||Gross Revenue FY 2016/2017||% Change|
|Sands Casino Resort Bethlehem||$302,054,464||$304,160,285||-0.69%|
|The Meadows Casino||$209,520,273||$217,910,016||-3.85%|
|Hollywood Casino at Penn National Race Course||$207,355,560||$209,682,586||-1.11%|
|Mohegan Sun Pocono||$202,793,257||$208,562,173||-2.77%|
|Harrah's Philadelphia Casino and Racetrack||$199,718,368||$200,372,009||-0.33%|
|Mount Airy Casino Resort||$146,997,589||$142,220,078||3.36%|
|Presque Isle Downs and Casino||$114,436,868||$112,001,403||2.17%|
|Valley Forge Casino Resort||$86,686,698||$80,228,728||8.05%|
|Lady Luck Casino Nemacolin||$28,875,296||$30,170,007||-4.29%|
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