August revenue up 20 % at Pennsylvania casinos
Rivers Casino took in us$ 16.2 million in revenue in its first month of operations, the state said. Philadelphia Park Casino and Racetrack in Bensalem reported a 4 % decline, while Harrah’s Chester Casino and Racetrack saw its revenue fall by 10.8 %, the gaming board reported.
The Meadows Racetrack and Casino in North Strabane, however, registered a 15.6 % increase in revenue. Pennsylvania now has nine casinos, up from seven a year ago. Of the seven original casinos, five reported declines in revenue from a year ago.
State regulators have granted licenses for two more casinos in Philadelphia: SugarHouse Casino, which is slated to open by the middle of next year, and Foxwoods Casino, which last week was granted a two-year extension to open a site.
Casinos, which are taxed at a rate of 55 %, generated us$ 102.8 million in state tax revenue last month. The revenue is earmarked for property-tax relief.
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