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November 6, 2009

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Gaming revenues continue to grow, statewide, but not for one local casino

HARRISBURG, PA: The amount of gross revenue generated in October 2009 through the play of slot machines at nine casinos rose 31.97% over the previous year, according to figures released today by the Pennsylvania Gaming Control Board.

Mount Airy Resort and Casino, in Monroe County, continues to underperform revenues from a year ago, off 19 percent from October of last year.  The other northeast Pennsylvania casino, Mohegan Sun, grew almos 14 percent over the past 12 months.

In October 2009, the nine operating casinos generated $177,111,933 in gross revenue compared to $134,203,554.37 in October 2008 when seven casinos were in operation. The growth in revenue resulted in tax collections of $97,411,563 this past month, $23,599,608 more in taxes returned to Commonwealth citizens than those of last October. Pennsylvania’s tax rate is 55% of gross revenue.

In a measurement of just the seven casinos in operation this October that were also in operation last year, revenue was up 6.23%.

Comparative gross terminal revenue for each of the casinos operating in both October 2008 and October 2009 are as follows:

Casino

October 2009

October 2008

% change

Philadelphia Park Casino and Racetrack

$29,556,599.31

$27,166,545.79

8.80%

Harrah's Chester Casino and Racetrack

$25,625,358.31

$24,689,003.86

3.79%

The Meadows Racetrack and Casino

$22,596,904.58

$20,612,566.04

9.63%

Hollywood Casino at Penn National Racecourse

$20,387,553.14

$16,254,891.42

25.42%

Mohegan Sun at Pocono Downs

$18,630,110.85

$16,400,036.63

13.60%

The Sands Casino Resort Bethlehem
(opened May 22, 2009)

$18,547,587.30

--

--

Rivers Casino
(opened August 9, 2009)

$16,001,752.90

--

--

Presque Isle Downs and Casino

$13,075,439.46

$13,388,582.93

-2.34%

Mount Airy Resort and Casino

$12,690,626.95

$15,691,927.70

-19.13%

Total

$177,111,932.80

$134,203,554.37

31.97%

The average daily number of operating slot machines in operation in Pennsylvania was 16,833 in October 2008 and 24,712 in October 2009.

Gaming Control Board Chair Greg Fajt says that while tax revenue is certainly assisting Pennsylvanians statewide in obtaining a property tax reduction averaging nearly $200 and saving the horse racing industry, slot machine-generated revenue is also reaching into the local communities that host or are neighbors to casinos.

 


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