Gaming at PA casinos/racinos hit monthly high
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With an average of 1,028 tables in operation statewide during March, gross revenue from the play of all table games was $61,864,545. That amount was $7,257,927, or 13.3% higher than in March 2011 when revenue totaled $54,606,617 when an average of 854 tables were operating on a daily basis.
In addition, the March table games total also eclipsed the previous high revenue month of February, 2012 when gross revenue totaled $56,556,939 with 977 tables in operation on a daily basis.
March's successful revenue number pushed total gross table game revenue to over $1 billion since this type of gaming was added to Pennsylvania casinos in July of 2010 resulting in tax revenue to date of $161.4 million.
"Pennsylvania casinos have worked hard to refine the amount and mix of table games to meet their customer bases and maximize revenue,” says Board Chairman William H. Ryan, Jr. "With the recent opening of the 11th casino at Valley Forge, I am optimistic that the growth in the table game sector will continue.”
March proved to be a very successful month in revenue generation for both table games and slot machines. Recently the Board announced that March slot machine gross revenue of over $233 million had been the highest monthly amount since the opening of Pennsylvania's first casino in November 2006.
Tax revenue from table games to the state (14% of gross revenue) during March was $8,805,208. Unlike a portion of slot machine tax revenue that is returned to the state to fund property tax reduction (34% ofgross slot machine revenue), tax revenue from table games goes exclusively to the Commonwealth's General Fund.
In addition, table games contributed tax revenue to the Local Share Fund (2% of gross table revenue) of $1,237,291 during March. This money is returned to the counties and municipalities that host the casinos, or toward projects specifically designated in the Pennsylvania Race Horse Development and Gaming Act.