Pennsylvania Gaming Control Board released a report about the financial performance of Pennsylvania-based casinos during the last month.
According to the numbers presented, the slot machine revenue has decreased by 3.9% as compared to the results posted exactly one year ago. Nine out of the twelve existing casinos reported a decline in March revenue.
As for the decrease reported by the Meadows Casino, it amounted to 5.38%. Last year, casino officials reported a revenue totaling $19,869,316.92 and yesterday the amount posted was $18,799,708.54.
The Pittsburgh-based Rivers Casino announced a decrease equal to 4.57%. In comparison, last year’s revenue was $25,646,514.08, which means that a decline of $2.447,471,199 was posted.
Against all odds, Lady Luck Casino Nemacolin posted an increase totaling 13% YOY. Back in March 2014, the casino reported revenue of $2,207,008.90 and this year the numbers reported were $2,493,840.85.
Valley Forge Casino Resort and Sands Casino Resort reported an increase of 3.29% and 2.43%, respectively.
According to the detailed report, the gross revenue generated by slot machine gambling activities decreased to $207,712,396. In comparison, the revenue in 2014 amounted to $216,213,980. It is also important to note that the number of slot machines available in the Pennsylvania-based casinos was reduced to 26,336.
As far as the statewide tax revenue for the previous month is concerned, it was estimated at $110,788,626.
Eleven years ago, the Pennsylvania Control Board was established with the aim of monitoring all casinos on the territory of Pennsylvania. Members of the Board are in charge of providing administrative support and deal with complicated gambling-related issues.
Currently, there are two resort casinos and ten racetrack ones. According to statistics, more than 17,200 Pennsylvania residents are employed in the gambling industry. The daily revenue generated by table games and slot machines in the twelve properties is approximately $3.7 million.
Most part of the amount is set aside for property tax reduction for Pennsylvania property owners. The rest of the revenue is used for various economic development projects, general maintenance or providing financial help to regions where casinos are located.
Although most of the casinos reported a decline in their revenue, Pennsylvania players might get another place to go and roll the dice.
A racino that is to be established in Mahoning Township, Lawrence Downs will feature 1,250 slot machines, 41 table games and 10 poker tables. Proponents of the project are convinced that it will manage to resist the competition and become a profitable one.
