Contents
A big boost in table game revenue has helped pull the Pennsylvania casino industry’s fat out of the fire once again.
The Pennsylvania Gaming Control Board released table game revenue numbers for the month of August 2017 this week. What the numbers revealed was an increase of close to 11 percent over the same month last year.
Earlier this month, the gaming board released similar numbers showing the state’s slot machine revenues were down in August, marking the eleventh straight month of year-over-year slot machine revenue declines.
However, the 10.92 percent increase in table game revenue helped the state’s 12 casinos post an increase in total gambling revenues for the month.
Total gambling revenue up 2.5 percent
In fact, Pennsylvania’s total gaming revenue reached $267.4 million in August 2017. This represented a 2.5 percent increase from the $260.9 million reported in August 2016.
Statewide table game revenues reached $74.2 million throughout the month. This was up from the $66.9 million reported in August 2016. August 2017 slot machine revenues were down 0.4 percent, from $193.9 million in August 2016 to $193.19 million last month.
Sands Casino Resort Bethlehem continued to post the state’s largest table game revenue numbers in August. Sands reported table game revenues of $19.9 million. This represented an increase of 3.19 percent from the $19.3 million Sands reported in August 2016.
The race at the top tightened up a little, with perennial table game take runner-up Parx Casino posting a 23.95 percent increase in table game revenue last month. Parx’s table game revenues hit $16 million in August 2017, up from $12.9 million in the same month last year.
However, the biggest increase in table game revenues in August 2017 were reported by The Meadows Casino. In fact, Meadows posted $3.4 million in table game revenue throughout the month, up a whopping 114.12 percent from the $1.6 million the casino reported in August 2016.
Parx sets the total gambling revenue pace
Parx continued to set the pace for total gambling revenue in the state in August. The casino chalked up $48 million in total revenue. This represented a 7.02 percent increase over the same month last year.
Sands remains in second place, after posting $45 million in total gambling revenue throughout the month. This represented a 2.17 percent increase over August 2016.
In the meantime, Mount Airy Casino Resort saw the biggest increase in total revenues for the month. Mount Airy reported $17.3 million in total gambling revenue, up 10.65 percent from the $15.6 million the casino reported in the month of August last year.
The state charges a 16 percent tax on table game revenues. Total tax revenue from table games play during August hit $11.9 million.
However, Pennsylvania charges a 54 percent tax rate on slot machine revenue. As a result, the state pulled in $95 million in tax revenue from slot machines in August 2017. Total gambling tax revenue collected by the state for the month equaled approximately $106.9 million.