Last year’s real money gambling expansion bill has made Pennsylvania one of the most progressive states in the country when it comes to real money gambling. The bill creates a favorable business environment for both land-based and online casinos and moving forward it puts the Keystone State at the forefront of the newly formed legalized sports betting industry.
This highly favorable stance towards real money gambling is starting to pay some serious dividends for casino operators as well as for government coffers. According to a recent post on Bizjournals.com by Stacey Federoff , the Pennsylvania Gaming Control reported a slight increase in slot machine revenue for Fiscal 2018 against the same time period last year. While the actual percent gain was just 0.7, it adds up to an additional $16 million for the full fiscal year.
What Makes Pennsylvania’s Slot Machine Revenue To Surge?
The gross revenue for Pennsylvania’s 12 land-based casinos topped $2.35 billion in 2018 against the $2.33 billion that was generated during the same time frame last year according to a recent press release. In the western part of the state, Rivers Casino in Pittsburgh reported an increase of 3.35 percent in its slot machine revenue from $265 million in 2017 to $274 million this year. The Meadows in North Strabane Township actually lost revenue on its slot machine business. Last year, its slot revenue came in at $217 million and this year it dropped 3.85 percent to $209 million.
Tax revenue for the state from slot machine play during the last fiscal year was $1.19 billion according to the recent figures released by PA Gaming Control. The state’s casinos also offer table games and those figures are expected to be released later this month.
As far as the total number of real money slots machines in Pennsylvania casinos, there were 25,737 in play in Fiscal 2018. This represents a slight increase from the 25,685 slot machines that were active the previous year.
In a related post on Bizjournals.com, the PA Gaming Board has begun to accept sports betting petitions from casino operators. Early last month, the board passed a series of temporary regulations to regulate legal sports betting in the Commonwealth. This was quickly on the heals of a landmark US Supreme Court decision in early May. That decision has paved the way for legal sportsbooks on a state by state basis as opposed to the previous federal laws that prohibited sports betting on a national basis outside of the state of Nevada.
Read Reviews Of All The Casinos In Pennsylvania
- Blue Grass Bingo
- The Downs At Carbondale OTW
- Bustleton Bingo
- Presque Isle Downs & Casino
- Mount Airy
- Northeast Turf Club
- Parx Casino, Racing And Poker
- Mohegan Sun Pocono Downs
- Rivers Pittsburgh
- South Philly Turf Club
- Meadows Racetrack
- Center City Turf Club
- Live! Casino Hotel Philadelphia
- Valley Forge Resort
- Brandywine Turf Club
- Lady Luck Nemacolin
- Sands Bethlehem
Will Sports Betting Revenue In Pennsylvania Make More Money That Slot Machines?
Part of the new PA regulations states that legal sports betting can only take place at a licensed facility such as a casino or race track. They will be able to operate a temporary onsite sportsbook or utilize an Internet-based system for up to 18 months.
Kevin O’Toole is the executive director of gaming control and he was quoted as saying “The actions taken by the board are the first in our efforts to launch sports wagering in Pennsylvania as soon as possible.” As part of a prepared statement, he added “In the coming months, we expect to regularly ask the board for approval of additional temporary regulations that will move us toward a launch of this new gaming initiative.”