Last month the nine Pennsylvanian slots facilities generated 19.8% more gross revenue than August 2008 when seven casinos were operational. Based on the 55% tax rate, an average US$3.32 million per day was returned to state taxpayers. However, gross terminal revenue was down for all but two of the seven facilities – The Meadows Racetrack & Casino and Hollywood Casino at Penn National Racecourse.

Pennsylvania Gaming Control Board Chairman Greg Fajt said the ability for the Commonwealth to bring two more casinos online over the past three months contributed to this continued increase. "With the opening of both the Sands Casino Resort Bethlehem and the Rivers Casino in Pittsburgh during the summer, tax revenue from slot play that is earmarked toward lowering property taxes for our homeowners is accelerating."

He also noted that the opening of the two casinos created 2,045 new jobs, with the vast majority going to Pennsylvania residents. "In a period where Pennsylvania has lost a tremendous amount of jobs, legalized gaming has been a job creation bright spot now employing over 8,000 individuals with an additional 8,000 construction jobs created to build these facilities."

Following a 28 August public hearing on a petition by Foxwoods Casino Philadelphia to extend the time to make slot machines available, the PGCB granted an additional period not to exceed 24 months because Philadelphia Council had delayed approval of the project and the issue of the necessary planning and zoning permits. The extension expires at close of business on 29 May 2011.

Fajt commented that the PGCB will continue to work over the next two years to open the two licensed Philadelphia casinos and license two other facilities allowed under the Gaming Act that will result in continued increases in both revenue and job numbers.
(E-09.03.09)

© Copyright 2009 CasinoCompendium



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