Since the opening of the first Pennsylvanian slots casino in November 2006, legalised slots gaming has generated over US$1.5 billion in revenues. These funds are being used to provide general property tax relief to all Pennsylvania homeowners, more than double those eligible rebates under the property tax and rent rebate program for seniors, reinvigorate the state’s horse racing industry, and provide thousands of new living wage jobs.

In addition, the seven slot machine casinos currently in operation have injected almost $80 million of new revenues into the budgets of the county and local governments that serve as hosts to these facilities. During the next year, four more facilities are scheduled to open while three existing facilities are slated to significantly expand.

Eileen H. McNulty, Chief Financial Officer for the Pennsylvania Gaming Control Board, will be the opening speaker for the 83rd Annual State Association of Township Commissioners Convention. The event will be held June 23-25, 2008 in Lancaster and McNulty will be presenting an update on slots gaming in the Commonwealth including figures on revenue for property tax relief, economic development and local government shares.

Act 71 of 2004 was designed to produce tremendous benefits for its citizens through the introduction of the slots gaming industry to Pennsylvania. For every dollar produced as net revenue from a slot machine, 55¢ is returned to Pennsylvanians. Last month total wagers at the slots operations amounted to US$1.86 billion from 15,141 machines. GGR was US$151.3 million, up from US$132.4 million in April 2008.

At present Pennsylvania has 15,141 slots machines, so far earning the state over US$586 million in tax revenue and making substantial contributions to the Pennsylvania Race Horse Development Fund, the Gaming Economic Development and Tourism Fund, and Local Share Assessment. In April the Pennsylvania Gaming Control Board’s Director of Operations announced that current slots casino projects scheduled to be operational by July 2009 could result in a 40% increase in revenues and create nearly 3,000 more jobs. (E-06.18.08)

© Copyright 2008 CasinoCompendium



>>> return to archives
>>> return to frontpage