Racetrack developement funding drops in Pennsylvania
A report released by the state indicates a slight fall in both slot machine revenue and attendance at Pennsylvania race tracks in 2016.
US.- Slot machine revenue and attendance at Pennsylvania’s race tracks have declined in 2016, as reported by the state in a document released on Tuesday. The “2016 Racetrack Casino Benchmark Report” was released to track the 10 percent of slot machine revenue that is required by law to fund horse breeding.
The income earned for horse breeding and other improvements to working conditions and racetracks come from the state’s 12 casinos. Almost US$245 million was destined to the Pennsylvania Race Horse Development Fund, down 1 percent from a year ago. According to the Gaming Control Board, it’s due to a minor drop in gross terminal revenue from the six racetrack casinos.
There was also a drop in track attendance as it fell 5 percent to 731,625 at the six venues. In 2015 there were 766.575 visitors and in 2014 827-048, the five-year high. According to the report, “increasing attendance can be a challenge for the industry due to alternative forms of entertainment that are available to the general public.”
The document also lists the improvements that have been done to the facilities during last year. Those include US$235.306 at the Meadows Casino in North Strabane used to build more stall space and six new barnes and even US$3.6 million invested for 33 new barnes at the Parx Casino that includes 33 new barns.
