New Pennsylvania Casinos Spur 20 Percent Revenue Increase in August


news
03 September 2009Printer Friendly VersionPost a CommentTell a Friend about this Article

Prime Casino
HARRISBURG, Pa., Sept. 2 /PRNewswire-USNewswire/ -- The amount of gross revenue generated in August 2009 through the play of slot machines at nine casinos rose 19.8% over the previous year, according to figures released today by the Pennsylvania Gaming Control Board.

The nine casinos in August 2009 generated $186,936,232 in gross revenue compared to $156,052,262 in August 2008 when seven casinos were in operation. Taxes in August, based on the 55% rate, were $102,789,443, an average of $3.32 million per day returned to Pennsylvania taxpayers. The casinos collectively retained $84,146,789.07 of the gross revenue for the month.

Board Chairman Greg Fajt says the ability for the Commonwealth to bring two more casinos online over the past three months contributed to this continued increase.

"With the opening of both the Sands Casino Resort Bethlehem and the Rivers Casino in Pittsburgh during the summer, tax revenue from slot play that is earmarked toward lowering property taxes for our homeowners is accelerating," says Fajt.

Fajt also notes that the opening of these two casinos created 2,045 new jobs, with the vast majority going to Pennsylvania residents.

"In a period where Pennsylvania has lost a tremendous amount of jobs, legalized gaming has been a job creation bright spot now employing over 8,000 individuals with an additional 8,000 construction jobs created to build these facilities," Fajt says.

Fajt adds that the Board will continue to work over the next two years to open the two licensed Philadelphia casinos and license two other facilities allowed under the Gaming Act that will result in continued increases in both revenue and job numbers.

The overall increase in revenue occurred even though the amount of gross revenue generated in August 2009 through the play of slot machines at the seven casinos that were also operating in August of the previous year declined -3.54%.

Comparative gross terminal revenue for each of the casinos operating in both August 2008 and August 2009 are as follows:

                Casino               August 2009      August 2008   % change    Philadelphia Park Casino and    Racetrack                      $30,312,468.47   $31,587,159.80    -4.04%    Harrah's Chester Casino and    Racetrack                      $25,709,960.86   $28,831,904.85   -10.83%    The Meadows Racetrack and    Casino                         $25,445,174.17   $22,000,654.39    15.66%    Hollywood Casino at Penn    National Racecourse            $20,365,617.89   $18,416,204.34    10.59%    Mohegan Sun at Pocono Downs    $19,287,503.53   $20,285,457.66    -4.92%    Presque Isle Downs and    Casino                         $14,954,500.48   $17,037,448.14   -12.23%    Mount Airy Resort and Casino   $14,460,453.24   $17,893,433.35   -19.19%    The Sands Casino Resort    Bethlehem opened May 22, 2009  $20,235,659.16               --       --    Rivers Casino     opened August 9, 2009         $16,164,894.62               --       --                Total             $186,936,232.42  $156,052,262.53    19.79%
The average number of operating slot machines at these facilities was 16,794 in August 2008 and 24,329 in August 2009.

The Gaming Control Board provides weekly updates of casino revenue on its web site, www.pgcb.state.pa.us. In addition, videos and information on the operation of the PGCB, problem gambling efforts and assistance, future meeting schedules and past meeting transcripts, and a link to request a speaker are among the many items available to the public on the web site.

    CONTACT:    Doug Harbach or Richard McGarvey    (717) 346-8321
SOURCE Pennsylvania Gaming Control Board

Readers Comments


No comments have been submitted yet for this article.

Post a Comment


Name:
Email:
Comment:
CAPTCHA:
rc1rc2rc3rc4
Newsletter Updates - I would like to receive the latest news articles and exclusive bonuses from the CasinoMan Newsletter. (more info »)

Top Online Casino Choice

Aladdins Gold Casino
Aladdins Gold Casino


Welcome Offer 2 | 75% bonus up to $200, using coupon code: ALADDINS75
Rushmore Casino
Rushmore Casino


First Deposit Bonus | 100% match bonus up to $400 (15x rollover)
Bodog Casino
Bodog Casino


REFER YOUR FRIENDS | Earn up to £30 / €30 / $30 cash for each friend you refer to Bodog Sportsbook, Casino and Poker Room
casinos

You might also like these other casinos:

Jackpot City Online Casino
online casino
100% First deposit bonus up to £50

Manhattan Slots
online casino
100% First deposit bonus up to $747

Casino Las Vegas
online casino
100% First deposit bonus up to $100

Keep up with the latest

Sign up to the CasinoMan Newsletter today and get top playing tips, latest bonus locations and the latest blog stories.

To help you along the way, register today and get a FREE special report The 7 Deadly Pitfalls of Choosing an Online Casino.

( Close )
Online Slots Guide - CasinoMan
Top Casino Bonuses
High Noon Casino - Slots Welcome Bonus - Play any of our amazing Slots, Real Series Slots, Scratch Cards and Keno, 200% bonus up to $2000, using coupon code: HIGHNOON20

Bovada Casino - Match Bonus - If a $100 chip is purchased after redeeming a coupon code, a 100% match bonus up to $200, a $100 bonus will be received.

Las Vegas USA Casino - Preferred Deposit Methods - get an EXTRA 15% BONUS for using any fo Neteller, Moneybookers, Instadebit or eWalletXpress

sm