Slot Machine Revenue in Pennsylvania Increases 16% in February

03 March 2010

But, record snowfall does cause revenue decreases in most casinos

HARRISBURG, Pa., March 2/PRNewswire-USNewswire/ -- Despite record snowfalls throughout Pennsylvania that caused casino closures and made travel by patrons to the facilities difficult, tax revenue from the play of slot machines at the Commonwealth's nine casinos was nearly 16% higher in February this year over February of 2009.

"The significant amount of snow certainly affected the ability of casinos to attract its normal flow of patrons and lowered expected revenue," says Pennsylvania Gaming Control Board Executive Director Kevin O'Toole. "But, with two additional casinos open during February of this year, overall revenue from slot machine gaming did increase."

The figures for the individual casinos released today by the Gaming Control Board clearly display the effect the poor weather had on slot machine revenue with six of the seven casinos that were open in both February of 2009 and 2010 showing decreases. Overall, those seven casinos suffered a revenue decrease of 9.74% during February.

The nine slot machine facilities operating in Pennsylvania during February of this year collectively generated $168,279,514 in gross revenue, compared to $145,579,665 in February of 2009 when seven casinos were in operation. That is an increase of 15.59%.

Based on the 55% tax rate on gross revenue, Pennsylvania citizens saw a return of $92,552,028 in February of this year, an average of $3.3 million of taxes collected per day. Approximately two-thirds of tax revenue is used to reduce property taxes. The remainder goes toward major economic development projects in Pennsylvania, funding of road, safety and community improvement projects in the municipalities and counties that surround the casino locations, local fire companies, and to assist Pennsylvania's horse and harness racing industries.

Comparative gross terminal revenue for each of the casinos operating in both February 2009 and February 2010 are as follows:

    Casino                       February 2010   February 2009  % change    ------                       -------------   -------------  --------    parx casino (Philadelphia     Park Racetrack)             $32,009,828.42  $30,391,887.36      5.32%    -------------------------    --------------  --------------      ----    Harrah's Chester Casino and     Racetrack                   $24,737,548.29  $27,945,142.02    -11.48%    ---------------------------  --------------  --------------    ------    Sands Casino Resort     Bethlehem                   $19,688,588.52              --        --    -------------------          --------------             ---       ---    Hollywood Casino at Penn     National Racecourse         $19,497,063.38  $19,686,253.37     -0.96%    ------------------------     --------------  --------------     -----    Rivers Casino                $17,191,626.60              --        --    -------------                --------------             ---       ---    Mohegan Sun at Pocono Downs  $16,993,461.88  $17,831,655.14     -4.70%    ---------------------------  --------------  --------------     -----    The Meadows Racetrack and     Casino                      $15,990,647.10  $20,550,706.34    -22.19%    -------------------------    --------------  --------------    ------    Presque Isle Downs and     Casino                      $11,938,114.01  $13,921,959.37    -14.25%    ----------------------       --------------  --------------    ------    Mount Airy Casino Resort     $10,232,636.36  $15,252,062.23    -32.91%    ------------------------     --------------  --------------    ------    Statewide Total             $168,279,514.56 $145,579,665.83     15.59%    ---------------             --------------- ---------------     -----

The average number of slot machines operating daily at the nine casinos was 25,527 in February 2010 compared to 16,817 in February 2009.

The Gaming Control Board provides weekly and monthly casino revenue reports on its web site, www.pgcb.state.pa.us. In addition, videos and information on the operation of the PGCB, problem gambling efforts and avenues for 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

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