Pennsylvania casinos rake in record revenue in 2015-16
Casinos in Pennsylvania brought in a record high in revenue for the fiscal year 2015-16.
US.- The Pennsylvania Gaming Control Board (PGCB) released figures that showed the state’s 12 casinos generated over US$3.2 billion in revenue, a 3,6 percent increase from last year. This year’s revenue was US$85.8 million more than the previous high set in 2012-2013. Revenue from table games hit a record high of US$839 million, which helped put 2016’s mark over the top.
Valley Forge Casino Resort and Parx Casino saw the biggest increase in table games revenue over the last two years, collecting US$37 million (US$13.3 percent more than last year) and US$155 million (13.2 percent), respectively.
Casinos also collected US$2.39 billion in slot machine revenue, which was an increase from last year but still US$88.1 million short of the record set in 2011-12. The PGCB estimates the 12 state casinos’ combined tax revenue was US$1.4 billion for the year.
The Pennsylvania Gaming Control Board was established in 2004 and is tasked to oversee all aspects of the state’s casino industry. There are 10 stand-alone and racetrack casinos in operation, along with the two resort casinos. These facilities collectively employ over 17,000 people and annually generates US$1.4 billion in tax revenue from slot machine and table games play. The largest portion of that money is used for property tax reduction to all Pennsylvania homeowners with additional tax revenue going to the horse racing industry, economic development projects, fire companies, county fairs, water and sewer projects, the Commonwealth’s General Fund, and to local governments that host casinos.
