Harrah’s experiences fall in revenues
The Chester casino reported a decrease in slots revenues.
US.- According to the Pennsylvania Gaming Control Board, Harrah’s Philadelphia Casino and Racetrack reported a slight increase in December over the previous month, but still went through a decrease in its revenues year-on-year.
In 2016, Harrah’s totaled US$206 million in gross slot machine revenue, a small decrease from the US$218 million reported in 2015. During December, the casino collected US$15.8 million in slot revenue, a 14 percent lower than the year before, when it posted US$18.6 million in earnings. Despite the bad results, Harrah’s parent company Caesars Entertainment Corp reported a year-on-year increase during the third quarter of 2016. Mark Frissora, president and Chief Executive Officer of Caesars Entertainment, said: “We achieved another solid quarter of performance with a 3 percent increase in revenues paced by strong results in Las Vegas, our largest market.”
The state gaming control board also reported that out of the 12 casinos in Pennsylvania, only five saw an increase in their annual slots numbers, and the state collected US$1.2 billion in taxes from slot machines.
