Pennsylvania slots casino tax revenue grows

They brought in an average of us$ 3.2 million in tax revenue daily last month. The eight casinos generated us$ 179,154,226 in gross terminal revenue compared to us$ 151,240,724 in July 2008, when seven casinos were in operation. The average number of operating slot machines at these facilities was 21,826 in July 2009 and 16,194 in July 2008.

Tax collections by the commonwealth on terminal revenue last month, based on the 55 % rate, were us$ 98,534,824, an average of us$ 3.18 million per day. The casinos' collective take of the gross revenue for the month was us$ 80,619,402. The amount of gross revenue generated in July 2009 through the play of slot machines at the seven casinos that were also operating in July of the previous year rose 5.49 %.

Board Executive Director Kevin O'Toole says because of the Legislature's decision in 2004 to require the use of a central system to monitor and collect slot machine-generated revenue, there is no waiting and no guesswork. "During July, more than us$ 3 million of tax revenue was billed and collected on average every day from casinos, even as the economy struggles," he noted. "With the planned opening of another major project next week, the Rivers Casino in Pittsburgh, it is expected that we will see a continuing increase in tax revenue for such important items as property tax relief, economic development and projects funded at the local level."

Of the seven casinos that were operating last year, gross terminal revenue increased year-over-year at just three (The Meadows Racetrack and Casino, Hollywood Casino at Penn National Racecourse and Mohegan Sun at Pocono Downs). Decreases were posted at the other four, including Presque Isle Downs and Casino in Erie, which is owned and operated by MTR Gaming, owner of Mountaineer Casino Racetrack & Resort in Chester, W.Va. Presque Isle Downs took in gross terminal revenue of us$ 16,043,208 in July, down slightly from us$ 16,083,002 in July 2008.

The Sands Casino and Resort Bethlehem reported revenue of us$ 19,611,852 since its start-up in May. The Gaming Control Board provides weekly updates of casino revenue on its web site.