The Keystone State’s slot machine revenue increased 1.1 percent during the just concluded 2018/2019 state fiscal year compared to the 2017/208 fiscal year. These figures were presented by the Pennsylvania Gaming Control Board (PGCB) last Monday, the breakdown of the slot machine revenue figures has set the precedence for the total gaming report that is set to follow later this month.
The slot machine revenue in the 12 months of the last fiscal year totaled to a whopping $2.379 billion which is $26.5 million higher than the $2.352 billion that was recorded in the previous fiscal year. Moreover, tax revenue generated from the slot machine gaming during that fiscal year came in at $1.237 billion which is a 3.71 percent growth from the $1.19 billion in tax revenue that the state’s coffers received in the 2017/2018 fiscal year. In total, since the very first land-based gambling facility opened its doors in the state back in 2006, revenue for the slot machine sector has now totaled to about $27 billion with $14.5 billion, which is about half of the total, going to state coffers in the form of taxes. All in all, the industry is certainly still as lucrative as anticipated and hopefully, the launch of online gaming this month will keep it on the same trajectory.
The Individual Casino Figures
|Casino||Gross Revenue from Slot Machines FY 2018/2019||Gross Revenue from Slot Machines FY 2017/2018||% Change|
|Wind Creek Bethlehem (formerly Sands)||$295,726,499||$302,054,464||-2.09%|
|The Meadows Casino||$211,955,727||$209,520,273||1.16%|
|Hollywood Casino at Penn National Race Course||$205,718,923||$207,355,560||-0.79%|
|Harrah’s Philadelphia Casino and Racetrack||$196,207,089||$199,718,368||-1.76%|
|Mohegan Sun Pocono||$194,507,527||$202,793,257||-4.09%|
|Mount Airy Casino Resort||$145,483,303||$146,997,589||-1.03%|
|Presque Isle Downs and Casino||$114,881,765||$114,436,868||0.39%|
|Valley Forge Casino Resort||$96,278,435||$86,686,698||11.06%|
|Lady Luck Casino Nemacolin||$27,494,616||$28,875,296||-4.78%|
As seen from the table above, Parx Casino is still the reigning champion of the state’s gaming industry. The facility’s gross revenue from slot machines was $416,890,976, which is 4.03% bump from the previous fiscal year. Parx Casino’s impressive slot machine performance aside, the gaming operator has recently been given the green light to proceed with online sports betting and if this turns out as expected, the casino will have an even stronger lead over the competition.
The most improved slot machine operator was Valley Forge Casino – it recorded a percentage increase of 11.96 percent over the previous fiscal year. This is because the casino has been working very hard towards improving its offerings. For instance, at the beginning of 2019, the casino added 250 more slot machines to its renovated and expanded gaming floor – this was definitely bound to make a difference but no one imagined it would be this big.