Pa. slots revenue continues a 2-year tumble
Slot machine revenue in Pennsylvania dropped 6 percent in June compared to figures posted last year. Overall gross slot machine revenue for the fiscal year has slipped 4.5 percent, according to figures released today by the Pennsylvania Gaming Control Board.
Slots revenue peaked during the 2011-12 fiscal year, when the machines grossed $2,476,775,317. For the 2013-14 fiscal year, the gross has dipped almost $160 million to $2,319,890,598.
Harrah’s Philadelphia Casino and Racetrack saw the largest decline in the last year, dropping more than 12 percent. Slots also took a tumble at another racino, Presque Isle Downs & Casino in Erie, where gross revenue was down nearly 11 percent.
There was one winner that has continued to build an audience since opening in March 2012. The Valley Forge Casino Resort near King of Prussia had its slots revenue grow more than 22.5 percent over last year’s figures.
According to the Gaming Control Board, since the opening of the first slot machine casino in 2006, taxes just from slot machine play have totaled $8.35 billion. Most of that money has gone to provide modest tax relief for homeowners. The horse race industry has reaped a $1.5 billion windfall from the machines.
Industry analysts in the last year have said that gambling in Pennsylvania has taken a hit since the opening of casinos in Maryland, Ohio and New York.