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April 3, 2009

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Casino revenues up over past year

HARRISBURG - Slot machine play during March 2009 generated more than $155 million in revenues during the recently completed month of March, a 9.4% increase over March of 2008.

The revenue figures and month-over-month comparison for the Commonwealth’s seven operating casinos were released today by the Pennsylvania Gaming Control Board and are based on information received from the Department of Revenue.

Pocono Area Casinos

March 2008

March 2009

% change

Mohegan Sun at Pocono Downs

$13,884,467

$18,874,445

35.94%

Mount Airy Resort and Casino

$15,226,354

$16,314,108

7.14%

Based on the Pennsylvania 55% tax rate on gross terminal revenue from slot machine play, Commonwealth citizens saw a return of $85,315,707 in tax revenues during March. Casino operators’ revenue was $69,803,761. In March 2008, those figures were $77,984,150 and $63,803,761 respectively.

Chairman Mary DiGiacomo Colins says the current and anticipated long-term growth of revenue is encouraging in the face of a dour economy.

“Our expectations are that two new casinos and two expansions of existing casinos will occur in 2009, so we should continue to see an increase in needed tax revenues coming back to the Commonwealth.” says Colins. “In light of this growth, the Gaming Control Board, which has gained a national reputation for strict regulation, will also need to continue diligent oversight that is strong but fair in order to  make sure that Pennsylvania’s casinos are world-class and equipped with the latest technology, while also assuring that patrons enjoy a fair and predictable gaming venue.”

 

 


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