Casinos in Pennsylvania Experience Softer Slot Revenue
The real money casino gambling industry continues to expand across the United States and all around the world when it comes to new land-based venues along with a proliferation of online casino betting sites. While the overall revenue generated from casino gambling may also be expanding, there are a few cracks in the foundation that may signal an industry rapidly reaching its saturation point.
One example of soft business conditions for slot machine revenue in the US would be the recent report on www.mychesco.com representing Chester County outside the city of Philadelphia. According to the Pennsylvania Gaming Control Board’s monthly gambling revenue report posted on its website, there was a decrease of 1.7 percent in the state’s revenue generated from slot machine play in October verse the same month last year.
Why Are Casinos in Pennsylvania Experiencing Softer Slot Revenue?
The actual numbers posted in the report stated total slot machine revenue of $186,255,556 in October of this year. This represents all 12 land-based casinos in operation across the Keystone State. It also represents a nearly two percent decline from the reported $189,527,493 in slot machine revenue across the state in the same month last year.
The tax revenue that was collected from all 12 locations on slot machine revenue this past October totaled $97,115,033. This tax revenue figure reflects the amount generated before any possible adjustments instituted by the PA Department of Revenue.
The report also added figures for the total amount of slot machines in play when it comes to all the casinos in Pennsylvania. Going back to last October, it was reported that there was an average of 25,941 slot machines operating on a daily basis across all 12 locations. That figure was adjusted to 25,407 slot machines operating daily on an average basis for the same month this year.
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12 Land Based Casinos And The Legal Regulated Online Casinos In PA
The report did not mention if the revenue figures at each of the 12 PA casinos included any play at regulated online casino sites that are connected with the land-based operations. However, the fact that it did include an active slot machine count on an average basis would lead one to believe that these revenue figures only pertain to slot machine play in the land-based venues.
Parx Casino is the largest land-based casino in Pennsylvania as part of Philadelphia Park horse racing. Its slot machine revenue for the month of October actually showed an increase of 2.05 percent from the previous year. The reported revenue was $32,177,882 verse the $31,531,814 in revenue generated in October of 2017.
Sands Casino Resort Bethlehem is the second-biggest casino in Pennsylvania from a gambling volume standpoint. Its slot machine revenue in October reflected a steep 7.76 percent drop from last year’s figures. The revenue at this venue north of Philadelphia receded from $24,336,691 in last October’s report to $22,470,291 this past month. How much impact (if any) this casino’s pending sale from its parent company Las Vegas Sands may have had on revenue figures this year is hard to gauge.
The steepest drop in revenue was 17.99 percent at the state’s smallest land-based casino gambling venue Lady Luck Casino Nemacolin.
Source:
PA Casino Slot Machine Revenue Down 1.7% in October, Yet Another Chester Country Website On November 5, 2018.
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