According to recent financial figures posted by Pennsylvania’s Gaming Control Board, the state’s 10 land-based poker rooms generated revenues amounting to a total of $4.6 million in January 2018. All the ten casinos paid state taxes of a $648,000 on the revenue.
Since the first poker room was officially opened in Pennsylvania, the casinos have enjoyed poker rakes of up to $436.1 million with over $56 million in taxes being paid on that revenue. In January 2017, the casinos collectively raked in $4.9 million. The drop in revenue in January 2018 is attributed to the record low temperatures in the northeast region which kept quite a number of gamblers at home. Poker rooms in Atlantic City were also subjected to something similar last month with the revenue from the land-based casinos dropping by as much as 5.6 percent year over year.
The overall revenue from table games in Pennsylvania summed up to $72 million in January 2018, which represents a 2.2 percent drop when compared to the $72.6 million that they got from gamblers in January 2017. The state also generated nearly $59 million in revenue in all of 2017 from its roughly 230 poker tables.
A Look at the Winners and the Losers
Four of the casinos operating in Pennsylvania, posted year-over-year revenue gains last month, with Valley Forge leading. The casino anticipates a great year ahead thanks to Pennsylvania’s gaming act that was effected in October 2017 and loosened the restrictions that had been put on the Category 3 casinos. On the flip side, eight casinos in the state saw revenue drops with one of the most prominent drops being Meadows drop of over 14 percent.
Here is a quick look at the summary;
- Valley Forge Casino Resort: 13.91%
- Harrah’s Philadelphia Casino and Racetrack: 4.01%
- Presque Isle Downs and Casino: 3.42%
- Rivers Casino: .98%
- Mount Airy Casino Resort: -.14%
- SugarHouse Casino: -.71%
- Parx Casino: -2.01%
- Lady Luck Casino Nemacolin: -2.23%
- Sands Casino Resort Bethlehem: -2.25%
- Hollywood Casino at Penn National Race Course: -4.11%
- Mohegan Sun Pocono: -5.61%
- The Meadows Racetrack and Casino: -14.23%