Pennsylvania Casino Revenue Drops Last Fiscal Year As Residents Seek Smoke-Free Gaming? The Pennsylvania casino industry did not hit its target in the 2016/2017 fiscal year. However, there isn’t really much to worry about because Pennsylvania is only behind the leading Nevada in gaming collections. The only concern as per now is that there was a light percentage drop in all the collections that was done in the 2016/17 fiscal year.
All the 12 land-based casinos collected a total of $3.203 billion. That money was collected from aggregate table games as well as slot machines. That amount was collected between the 1st of July 2016 and the 30th of June 2017.
See Why Pennsylvania Casino Revenue Drops Last Fiscal Year As Residents Seek Smoke-Free Gaming
Although the marginal drop is meager, less than one percent, to many people, it is a serious concern various casino operators in the Keystone State as well as government officials. In a bid to end this year over year low gambling collections, some state official are contemplating measures that will see how to expand Pennsylvania casino industry.
The proposal according to these officials is to ensure that bars, airports terminus as well as truck stops to be installed with slot machines and other gaming machines to facilitate more gambling thus increase gaming revenue collection. This move however is not going to be received well by giant private and state-owned casinos.
On what is seen as a way to actually calm down any hard feelings after the slight drop of gaming collection, state gaming officials now say that the 2016/17 fiscal year collection should not be condemned but to be commended. The reason? Officials say that it is not easy for Pennsylvania casino industry to collect such money from slots and gaming machines alone. They asset that it is a big try to continue staying afloat looking at the way the gaming industry has been saturated in neighboring states.
“Looking at the situation from our neighbors and the amount of completion that we are facing from within our very own gaming industry, the collection has actually stayed stable thus amazing,” said Dough Harbach, the Director of Communications, Pennsylvania gaming Control Board. Parx casino, which is close to Philadelphia, was the state’s top gaming collector in the 2016/17 fiscal year with the property reporting $386.6 million that was collected from slot machines and another $170.1 million.
In total, Parx casino collected $557.7 million, which represents a more than 17.4% statewide. Coming in the second position is Sands Bethlehem, which is located in the middle-eastern part of the state with an aggregate collection of some $522.8 million. That money came from all gaming that is offered in the casino led by slot machines with $304.2 million and $218.6 million that came from table games.
In the entire gaming that was done statewide, in the 2016/17 fiscal year, the two properties, Parx and Sands Bethlehem pulled some 34%.
But with state authorities contemplating of coming up with mechanisms to expand the gaming industry in Pennsylvania, chances are that the 12 land-based casinos will record even less collections if the proposal is finally passed.
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