How much PA rakes in
The report on sin taxes came from the website HowMuch.net.
On casino gambling taxation, only Nevada, considered the gaming capital of the U.S., outshone PA, according to the report:
Only certain states allow casinos, thus geographically limiting the amount of revenue generated in this category. Not surprisingly, Nevada led the country in casino taxes with $912 million. The home of Las Vegas, casino revenue is a major source of income for the state. Pennsylvania was in second with $575 million in casino tax revenue.
With racino tax revenue figured in, PA actually surpasses Nevada. More from HowMuch:
Another category with limited participants is revenue from Racinos. The combination of race tracks and casinos generated $937 million for New York, first in the category. This was followed by Pennsylvania with $770 million.
Overall, Pennsylvania led all states with more than $2.7 billion in tax revenue from sin taxes, which includes state income from alcohol and tobacco products, as well as gambling.
No signs of slowing on gambling tax revenue
Pennsylvania, meanwhile, has seen its gambling industry continue to expand over the past year.
April was the eighth straight month of record revenue for PA casinos and racinos, with nearly $1.1 billion in gross gaming revenue generated in the first four months of 2016. Parx led all casinos in April, as it has for many months.
A recent study, however, cast doubt on whether gambling revenue will continue unabated for PA.
More gambling expansions on the way?
The revelation that PA is one of the states that makes the most money of off gambling comes against the backdrop of the state considering yet another gambling expansion.
The wide-ranging measure could generate hundreds of millions for the state, with a great deal coming from a provision that would authorize PA online casinos.
A vote on the gambling expansion had been planned for last week, but has been delayed for unknown reasons.
The state has also eyed sports betting, if and when federal law allows states to offer wagering on athletic events. And regulation of the daily fantasy sports industry may also be on the way.
The bottom line: There’s no sense that Pennsylvania has any desire to slow down on the gambling front.
Image credit: Ritu Manoj Jethani / Shutterstock.com