Falling casino revenue will be felt in local taxes
By Nate Jastrzemski
Closures of all Pennsylvania casinos in March due to mandated restrictions to protect citizens from the COVID-19 virus led to a 51 percent drop in overall revenue for the month.
Figures released today by the Pennsylvania Gaming Control Board show that revenue from gaming and fantasy sports contests during March 2020 was $153,481,368 compared to $316,279,316 in revenue generated in March 2019. Sources of gaming revenue regulated by the Board include slot machines, table games, internet gaming, retail and internet sports wagering, fantasy contests and video gaming terminals.
In releasing these new figures, the Board is noting that revenue for casino-type games offered online increased 24.5 percent during March when compared to the previous month of February 2020 when there was a full month of play at games offered at the now-shuttered casinos.
While games available through the internet continue to operate, land-based casino games including slot machines, table games and retail sports wagering along with Video Gaming Terminals (VGTs) ceased operating mid-month.
The board has posted separate reports for these types of gaming on its website, https://gamingcontrolboard.pa.gov/.
Wind Creek Bethlehem’s income toppled from nearly $51 million in March 2019 to less than $15 million this last month; a whopping 71 percent fall.
Casino-offered internet games, however, increased nearly 25 percent in just a month. Likewise sports wagering soared by 45 percent in a similar time period – a curious occurrence when most live sports have been canceled.
The Pennsylvania Gaming Control Board is tasked to oversee all aspects of gambling at dozens of facilities which collectively employ over 16,000 people and, along with other types of board-regulated gaming, has annually generated over $1.5 billion in tax revenue.
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