{"id":1090,"date":"2019-10-07T08:17:30","date_gmt":"2019-10-07T08:17:30","guid":{"rendered":"https:\/\/www.pennsylvaniacasinos.com\/news\/?p=1090"},"modified":"2019-10-07T10:57:28","modified_gmt":"2019-10-07T10:57:28","slug":"pennsylvania-casinos-bring-in-3-29-billion-in-fiscal-year","status":"publish","type":"post","link":"https:\/\/www.pennsylvaniacasinos.com\/news\/pennsylvania-casinos-bring-in-3-29-billion-in-fiscal-year\/","title":{"rendered":"Pennsylvania Casinos Bring in $3.29 Billion in Fiscal Year"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>The Pennsylvania Gaming Control Board (PGCB) has recently published its annual revenue reported for 2018\/19. As seen in the report, the previous fiscal year saw the nascent but <a href=\"https:\/\/www.pennsylvaniacasinos.com\/news\/new-online-options-boost-pennsylvania-gambling-revenue\/\">rapidly growing gambling sector<\/a> contribute significantly to the state&#8217;s economy. To put this into perspective, the gambling industry <strong>employed a whopping 16,000, delivering total annual expenditure of $500 million as well as generating $1.4 billion in tax revenue.<\/strong><\/p>\n\n\n\n<p>In total, the state&#8217;s 12 casinos generated a combined revenue of $3.2 billion in the 2018-19\nfiscal year. Out of that amount, slot machines brought in $2.38 billion while tables\ngames accounted for 885.6 million.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"big-boost-from-sports-betting\">Big Boost from Sports Betting<\/h2>\n\n\n\n<p>The Keystone State&#8217;s sports betting industry just recently took off and already it is a significant contributor to the state&#8217;s gambling sector. Sports betting go off to a pretty impressive start in November last year with the launch of a retail sportsbook Hollywood Casino at Penn National Race Course. This was followed by <strong>the launch of 10 other retail sportsbooks as well as the recent debut of five online sportsbooks<\/strong>.<\/p>\n\n\n\n<p>Sports betting brought in <strong>a $21.7 million with tax revenue from the gaming vertical clocking in at $7.8 million.<\/strong> Though the amount recorded for the sector is rather subtle compared to other forms of casino gambling, it is expected to grow even further in the near future. A number of gambling operators have now set their sights on Pennsylvania&#8217;s gaming industry. Once they go live they will significantly boost the industry once they go live with their products and offerings.<\/p>\n\n\n\n<p>Also, worth mentioning is Pennsylvania&#8217;s daily fantasy sports (DFS) sector which launched in May 2018. The sector generated a total o<strong>f $23.5 million <\/strong>with tax revenue of about $3.5 million. DraftKings which <a rel=\"noreferrer noopener\" aria-label=\"has plans of launching a retail sportsbook (opens in a new tab)\" href=\"https:\/\/www.apnews.com\/c3687d663ed44346b695b43aeb04ed1f\" target=\"_blank\">has plans of launching a retail sportsbook<\/a> in the state topped the DFS sector. It  generated $12.0 million in the 2018-19 fiscal year. It was closely followed by FanDuel, its biggest competitor, which brought in $10.9 million.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"initial-vgt-revenues-posted\">Initial VGT Revenues Posted<\/h2>\n\n\n\n<p>The Pennsylvania Gaming Control Board also posted the initial reports of the <a rel=\"noreferrer noopener\" aria-label=\"revenue generated by the Video Gaming Terminals (VGTs) (opens in a new tab)\" href=\"https:\/\/www.prnewswire.com\/news-releases\/pennsylvania-gaming-control-board-posts-first-video-gaming-terminal-revenue-reports-300930676.html\" target=\"_blank\">revenue generated by the Video Gaming Terminals (VGTs)<\/a> that were recently installed at some of the truck stops. As it stands, two operators have installed the VGTs at a total of seven truck stop establishments. The first of these officially launched on August 16, 2019.<\/p>\n\n\n\n<p>Marquee by Penn or Commonwealth Gaming, the two VGT operators, generated a combined $3,448,881 in wagers in August and September. This is definitely a great start for the VGT sector. While the revenue report does not offer much insight into what the future holds,<strong> the vertical is set to experience massive growth.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"The Pennsylvania Gaming Control Board (PGCB) has recently published its annual revenue reported for 2018\/19. As seen in the report, the previous fiscal year saw the nascent but rapidly growing gambling sector contribute significantly to the state&#8217;s economy. To put this into perspective, the gambling industry employed a whopping 16,000, delivering total annual expenditure of [&hellip;]","protected":false},"author":9,"featured_media":1091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[202,80,97,106,151,120],"class_list":["post-1090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","tag-fiscal-year","tag-pgcb","tag-revenue","tag-slots","tag-tax","tag-vgts"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pennsylvania Casinos Bring in $3.29 Billion in Fiscal Year - PennsylvaniaCasinos.com News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pennsylvaniacasinos.com\/news\/pennsylvania-casinos-bring-in-3-29-billion-in-fiscal-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pennsylvania Casinos Bring in $3.29 Billion in Fiscal Year - PennsylvaniaCasinos.com News\" \/>\n<meta property=\"og:description\" content=\"The Pennsylvania Gaming Control Board (PGCB) has recently published its annual revenue reported for 2018\/19. As seen in the report, the previous fiscal year saw the nascent but rapidly growing gambling sector contribute significantly to the state&#8217;s economy. To put this into perspective, the gambling industry employed a whopping 16,000, delivering total annual expenditure of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pennsylvaniacasinos.com\/news\/pennsylvania-casinos-bring-in-3-29-billion-in-fiscal-year\/\" \/>\n<meta property=\"og:site_name\" content=\"PennsylvaniaCasinos.com News\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-07T08:17:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-10-07T10:57:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.pennsylvaniacasinos.com\/news\/wp-content\/uploads\/sites\/5\/2019\/10\/pgcb-revenue-profit.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"907\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Emily Davis\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emily Davis\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.pennsylvaniacasinos.com\/news\/pennsylvania-casinos-bring-in-3-29-billion-in-fiscal-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.pennsylvaniacasinos.com\/news\/pennsylvania-casinos-bring-in-3-29-billion-in-fiscal-year\/\"},\"author\":{\"name\":\"Emily Davis\",\"@id\":\"https:\/\/www.pennsylvaniacasinos.com\/news\/#\/schema\/person\/b47ed31e0f192891cbc1e22efbdeb67c\"},\"headline\":\"Pennsylvania Casinos Bring in $3.29 Billion in Fiscal Year\",\"datePublished\":\"2019-10-07T08:17:30+00:00\",\"dateModified\":\"2019-10-07T10:57:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.pennsylvaniacasinos.com\/news\/pennsylvania-casinos-bring-in-3-29-billion-in-fiscal-year\/\"},\"wordCount\":427,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.pennsylvaniacasinos.com\/news\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.pennsylvaniacasinos.com\/news\/pennsylvania-casinos-bring-in-3-29-billion-in-fiscal-year\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.pennsylvaniacasinos.com\/news\/wp-content\/uploads\/sites\/5\/2019\/10\/pgcb-revenue-profit.jpg\",\"keywords\":[\"Fiscal Year\",\"PGCB\",\"Revenue\",\"Slots\",\"tax\",\"VGTs\"],\"articleSection\":[\"Industry\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.pennsylvaniacasinos.com\/news\/pennsylvania-casinos-bring-in-3-29-billion-in-fiscal-year\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.pennsylvaniacasinos.com\/news\/pennsylvania-casinos-bring-in-3-29-billion-in-fiscal-year\/\",\"url\":\"https:\/\/www.pennsylvaniacasinos.com\/news\/pennsylvania-casinos-bring-in-3-29-billion-in-fiscal-year\/\",\"name\":\"Pennsylvania Casinos Bring in $3.29 Billion in Fiscal Year - 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