Pennsylvania slot machine revenue rises in February
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 percent higher in February this year over February 2009.
“The significant amount of snow certainly affected the ability of casinos to attract its normal flow of patrons and lowered expected revenue,” said 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 earlier this week 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 percent 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 percent.
Based on the 55 percent 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.