Pennsylvania Gaming Control Board Releases Table Games Revenue Figures For July

HARRISBURG, Pa., Aug. 17, 2012 /PRNewswire-USNewswire/ -- The Pennsylvania Gaming Control Board today posted on its website the revenue figures for July table games play at the eleven operating casinos.

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 to 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% 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% to 12%. 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% on the two-year anniversary date of the commencement of table games operations.  This means that the nine casinos which began table games operations in July 2010 saw a reduction in its tax rate this July.  SugarHouse Casino (table games operation commenced September 23, 2010) and Valley Forge Casino Resort (table games operation commenced March 31, 2012) will continue to be taxed at a 14% 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%.

Gross revenue for each of the casinos in July 2012 compared to July 2011 is as follows:

A detailed breakdown of revenue by casino can be found on the PGCB website, www.gamingcontrolboard.pa.gov.   The report includes information on each casino by non-banked, banked and electronic tables including gross revenue, taxes generated and the number of table games in operation.  In addition to this report, the Board also posts monthly slot machine revenue reports on its web site.

About the Pennsylvania Gaming Control Board:

The Pennsylvania Gaming Control Board was established in 2004 with the passage of Act 71, also known as the Race Horse Development and Gaming Act. Pennsylvania's first new state agency in nearly 40 years, the Gaming Control Board is tasked to oversee all aspects of the state's casino industry. The 11 casinos in operation all offer both slot machine and table game gambling, employ over 16,000 people, and collectively have generated more than $6.9 billion in tax and license fee revenue since the first casino opened in November 2006. A portion of that money has delivered property tax reduction in each of the past 5 years for all Pennsylvania homeowners; provided funding to the Commonwealth's horse racing industry, fire companies, a statewide water and sewer project grant program, and the state's General Fund; and, established a new stream of tax revenue to local governments for community projects.

A wealth of information about the Gaming Control Board's regulatory efforts and Pennsylvania's gaming industry can be found at www.gamingcontrolboard.pa.gov. At this website, visitors can watch Board meetings live or view videos of past meetings, look up future meeting schedules and past meeting transcripts, obtain information on identifying a gambling problem and gaining assistance, access an interactive map of casino locations, request a speaker for their group, along with much more information.  You can also follow the agency on Twitter by choosing @PAGamingControl.

CONTACT: Doug Harbach or Richard McGarvey (717) 346-8321

SOURCE Pennsylvania Gaming Control Board

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