What is happening to Pennsylvania’s slot industry? For the ninth consecutive month, revenues from the state’s slot machines have slid. As a result, the state’s casino industry as a whole was negatively affected and posted a small dip in FY 2016 – 2017. Despite table games revenue climbing 3.25% in the period July 2016 through June 2017, this was was not enough to off-set the damage from the slots decline of 2.2%. As a result, the overall decline – although not huge – was a little less than 1%.
This was only the second casino industry decline in Pennsylvania’s history; the last one was seen in 2013 – 2014.
According to Pennsylvania’s Gaming Control Board, the main numbers were as follows for the FY 2016 – 2017 period:
- Slot machine revenue dropped 2.2% to $2,336,152,508
- Table game revenue climbed 3.25% to $866,467,940
- Total gaming revenue dropped 0.78% to $3,202,620,448
A total of nine casinos out of Pennsylvania’s twelve saw a decline in slots revenue. The three that suffered the most were the Presque Isle Downs and Casino which reported a 5.3% loss, the Mohegan Sun Pocono with a 5.94% loss and the worst performer, Harrah’s Philadelphia Casino and Racetrack with a 6.85% drop in slots revenue.
The three casinos that managed to see positive revenue from their slot machines were:
- The Sugar House Casino which saw slot revenues grow 1.06% to $178,910,324.
- Lady Luck Casino in Nemacolin with 0.76% growth from its slot machines to $30,170,007. This is the state’s smallest casino.
- Valley Forge Casino Resort with an impressive 3.78% growth from $77,305,871 to $80,228,728.
The Gaming Control Board posted a press release on its official website, reporting also on the state of table games during the fiscal year.
“Table games revenue was up 9 of the 12 months during the fiscal year, with total revenue in 2016/2017 of $866,467,940 compared to $839,177,086 during 2015/2016 state fiscal year,” it was stated. “The monthly table games report posted on the Board’s web site also shows that almost $70 million in table games revenue was generated during June 2017, a 2.16% increase compared to June 2016.”
The authority said that tax revenue which was produced through table games play was up 15.74% from $119 million in fiscal year 2015/2016 to $138 million in fiscal year 2016/2017. This, according to the board was an increase of almost $19 million.
