Pennsylvania Casino Revenue for August Shows Some Surprises
On Monday, the Pennsylvania Gaming Control Board (PGCB) released the revenue numbers for casino tables games for the month of August. The PCGB also released the figures for slots and fantasy revenue for the same month.
Tables Games Revenue
For August 2018, Pennsylvania tables games revenue decreased 1.33 percent over August 2017, coming in with $73,281,370. Revenue for the same month last year was $74,269,815.
For July, the reported total tax revenue from the state’s average of 1,275 table games in daily operation came to almost $11.78 million.
Two weeks prior, the board published the numbers for July’s total gross revenue from slot machines from the state’s 12 casinos. At $201,729,431, it came in 4.4 percent higher than the gross revenue total for August 2017, which was $193,190,477.
In August this year, an average of 25,511 slot machines were in operation throughout the state as compared to 25,814 in August last year.
For the second month in a row Pennsylvania failed to bring in $1 million in adjusted revenue from fantasy sports contests. August’s revenue from this sector was $943,620, slightly more than July’s revenue, which was reported as $878,185. Of that revenue, almost all of it was brought in by the DFS big names DraftKings and FanDuel.
Of that amount, 15 percent goes to the state as taxes, for a total of $625.7 thousand dollars.
Top 3 Revenue Casinos for August
Parx Casino in Bensalem came led the state in revenue generated by slot machines and was second in revenue from table games. Slots revenue was up 8.57 percent year over year, bringing in $34.8 million. Table games saw an increase of 8.39 percent since August last year, for a total of $17.4 million. Overall, the casino had $52.2 million in total revenue, which was an increase of 8.51 percent compared to August 2017.
Sand’s Casino Resort in Bethlehem was the runner-up for revenue generated by slot machines and led the state in revenue generated by table games for August. Slots brought in $25.75 million, an increase of 2.48 percent compared to August 2017. Table games revenue was $18.78 million, down 6.35 percent from August last year. Overall, the revenue for Sand’s Casino was down 1.43 percent compared to August 2017, for a total of $44.4 million.
Rivers Casino in Pittsburgh came in at third for revenue generated by slot machines and fourth for revenue generated by table games. Slots brought in $23.6 million, an increase of 6.29 percent from August last year. Table games revenue also went up, by 15.67 percent, bringing in 6.4 million. Overall, the casino enjoyed an increase of 8.16 percent in revenue compared to August last year, with a total of $29.97 million in revenue.
What’s missing from these numbers is sports betting. And the reason why there’s no sports betting numbers is because none of the state’s casinos have started taking any sports bets, despite this being the most popular time of the year for placing wagers on sports. PA’s high sports betting taxes and licensing fees, protested regulations and a lack of overall foresight have really hampered this state from racking up the sports betting revenue.
However, after a few months of protest, there are now some casinos willing to entertain the higher fees and taxes in order to capitalize on the amount of money that can be made from football season. I would imagine that these gaming revenue numbers will increase not only this year, but when compared to the same month in 2019, once sports betting is fully operating. Although it’s a small part of a casino’s overall revenue, sports betting does bring more gamblers to the casinos, which increases overall spending at the tables and slots.
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