Slot Machine Revenue in Pennsylvania Goes Up in 2018/2019 Fiscal Year
The Pennsylvania Gaming Control Board (PGCB) has updated its financial results for the 2018/19 fiscal year, revealing the state has generated 1.1% more revenue when compared to the previous fiscal period.
The report published by the state’s gaming authority also included monthly revenue figures for all 12 casinos operating in the Keystone State.
A Solid Fiscal Year
According to available information, casinos in Pennsylvania generated combined revenue of $2,378,859,341 during the last fiscal year, $26.5 million more than in the fiscal 2017/2018. At the same time, slot machine play recorded tax revenue of $1,237,085,077.
The latest fiscal year has been successful for the state, as slot machine revenue increased in 9 of the 12 months.
PGCB pointed out that these numbers referred only to slot machine revenue, and that they didn’t encompass total gaming revenue, meaning they didn’t include table games. The Board announced it would make those figures available by the end of the month, once its June 2019 and FY 2018/19 revenue report for table games were released.
Since the first casino was opened in Pennsylvania, back in November of 2006, slot machine play revenue has totalled $27 billion, bringing $14.5 billion to state coffers through taxation.
The Board has also provided slot machine gross revenue comparisons for each of the casinos for the last two fiscal years (2018/19 and 2017/18).
Numbers Tell the Full Story
6 casinos ended the fiscal year with a rise in gross revenue from slot machines. Percentagewise the biggest winner, is Valley Forge Casino Resort, which generated $96,278,435 in revenue, which represents a year-on-year rise of 11.06%. Rivers Casino is the second-placed venue with $291,107,335 – improving the result from the previous fiscal year by 6.15%. Parx Casino closely followed with a rise of 4.03% or $416,890,976. SugarHouse Casino is the only other venue to record a jump of more than 2%, generating $182,607,146 (2.07%).
The biggest year-on-year loser is Lady Luck Casino Nemacolin, which saw its revenue drop by 4.78% to $27,494,616. Mohegan Sun Pocono generated $194,507,527 in revenue, 4.09% less than in the previous fiscal year.
The report on the PGCB site also reveals a statewide total and casino-by-casino monthly slot machine revenue for June 2019. Valley Forge Casino Resort led the way with $8,463,665, improving its figures from 2017/18 by11.96%
Lady Luck Casino Nemacolin saw its revenue rise by 7.37% to $2,511,426, while Rivers Casino took home $24,059,071 – 4.71% more when compared to the previous fiscal year. Harrah’s Philadelphia Casino and Racetrack recorded the biggest drop, ending the period with a drop of 5.08% or $15,829,226.
All 12 casino recorded combined slot machine revenue of $198,755,901, which represents a slight increase of 0.5%
It should be noted the average number of operating slot machines during June of 2019 at the 12 casinos was 24,869 compared to 25,737 in June of last year.
The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the casino industry in the Keystone Stone. In addition to slot machine and table games gambling, this now includes sports betting offered through 8 land-based sportsbooks and 3 online venues.