For 1st Time, Pa. Casino Revenues Drop - NBC 10 Philadelphia

For 1st Time, Pa. Casino Revenues Drop



    For 1st Time, Pa. Casino Revenues Drop
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    State gambling regulators say gross revenue from slot machines was down nearly 2 percent during the fiscal year that just ended, the first decline since Pennsylvania's casinos started coming online more than six years ago.

    The Pennsylvania Gaming Control Board reports the state's 11 casinos generated $2.4 billion from slot machines during the 12-month period that ended Sunday. That's down 1.9 percent from the slots revenues during the previous fiscal year.

    The state taxes slot machines at a rate of about 55 percent. Tax revenue from slot machines during the last fiscal year was $1.3 billion, down nearly 3 percent from the year before.

    Pennsylvania has grown into the nation's second-largest gambling market after Las Vegas -- jumping ahead of neighboring New Jersey. The state approved casino gambling in 2004 and the first casino opened in November 2006.

    Parx Casino in Bensalem, Pa. remains the top earning state casino with more than $376M in gross slot revenue -- a nearly 3-percent drop from last fiscal year. Sands Casino Resort Bethlehem was the only state casino to see a gain in slot machine revenue as it took in nearly $291M -- a 1.66-percent increase.


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