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Pa. Gaming Revenue Higher in July

Gross revenue was up at Pennsylvania's 11 casinos in July 2012

 

Revenue at Pennsylvania's 11 casinos in July was up slightly over the same month last year, according to the Pennsylvania Gaming Control Board.

The Sands Casino in Bethlehem was the state's highest-grossing gaming hall with $12.4 million in July.

With an average of 1,037 tables in daily operation statewide during July, gross revenue from the play of all table games was $56,482,941. That amount was 1.8% higher than in July 2011, when revenue totaled $55,475,411 with an average of 911 tables operating on a daily basis.

The board noted, as it did when July slot revenue figures were released earlier this month, that the July 2011 figure included a fifth full weekend (Friday through Sunday) of business compared with just four full weekends in July of this year.

Even with the gross revenue increase, the board reported that the $7,485,074 in tax revenue generated for the Commonwealth's General Fund from table games this July was 4 percent lower than tax revenue from July of last year. The Board explained that in addition to the extra weekend in 2011, the tax revenue decrease can also be attributed to the first month of a planned reduction in the state tax rate for table games from 14 percent to 12 percent.

Under amendments to the PA Race Horse Development and Gaming Act that permitted the addition of table games at Commonwealth casinos, the tax rate is reduced 2 percentage points on the two-year anniversary date of the commencement of table games operations. This means that the nine casinos that began table games operations in July 2010 saw a reduction in their tax rate this July.  

SugarHouse Casino in Philadelphia (table games operation commenced Sept. 23, 2010) and Valley Forge Casino Resort (table games operation commenced March 31, 2012) will continue to be taxed at a 14 percent rate until their two-year period is up.

In addition, table games contributed tax revenue to the Local Share Fund of $1,129,659 during July. That tax rate remains at 2 percent.

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