Pennsylvania gaming revenues from table games are on the decline.
Earlier this month, the Pennsylvania Gaming Control Board posted its monthly report for total gross revenue and tax revenue generated from the play of slot machines at Pennsylvania’s 12 brick and mortar casinos during February 2017.
According to the report, gross revenue from slot machines fell 3.95 percent to $192,268,470 in February, compared to $200,166,274 in the same month last year.
Now, the PGCB has reported gross revenue from table games were also down 2.8 percent in February 2017, with totals of $66,302,623, compared to $68,187,957 in February of last year.
When added together, total gaming revenues from slots and table games were down 3.6 per cent in February 2017. In fact, gross gaming revenues at Pennsylvania casinos hit $258,571,093 last month, down close to $10 million from February 2016.
February 2016 also represented the fifth straight month of gross revenue declines at Pennsylvania casinos.
The Pennsylvania State government charges a 54 percent tax rate on slot machines and 16 percent tax on table games. These rates represent the highest overall tax rates on casinos in the country.
Proposed legislation in the state that would legalize online gambling calls for a 14 percent tax rate on Internet gaming operations.
The State took in $112,862,332 in total tax revenue from Pennsylvania Casinos in February 2017. The overwhelming majority ($102,145,159) was from slots.
Online gambling legislation or a renegotiation of the tax rates may help turn around declines.
In the meantime, the PGCB says it expects local casinos to generate approximately $1.4 billion in tax revenue annually.
The following table shows total gaming revenues for all 12 of the state’s casino operations in February 2017, compared to the same month last year:
Total Gaming Revenue
Total Gaming Revenue
|Sands Casino Resort Bethlehem||$44,049,849||$42,594,634||3.42%|
|The Meadows Casino||$20,364,790||$21,428,128||-4.96%|
|Mohegan Sun Pocono||$20,323,551||$22,255,443||-8.68%|
|Hollywood Casino at Penn National Race Course||$20,119,800||$20,503,665||-1.87%|
|Mount Airy Casino Resort||$15,088,041||$15,123,613||-0.24%|
|Presque Isle Downs and Casino||$10,194,422||$10,801,447||-5.62%|
|Valley Forge Casino Resort||$9,037,367||$9,596,395||-5.83%|
|Lady Luck Casino Nemacolin||$2,913,784||$2,712,848||7.41%|