Pennsylvania Casinos Down 1.4% To $3.11bn In 2013

admin, January 17, 2014 4:19 pm

Pennsylvania Casinos Down 1.4% To $3.11bn In 2013The Pennsylvania Gaming Control Board has released its casino results for the whole of 2013, revealing a 1.4% decline in revenues to $3.11 billion, compared to the $3.16 billion taken in 2012. Nevertheless, the latest annual casino results mark three consecutive years Pennsylvania’s casino revenue figures topped $3 billion.
Pennsylvania added slots-only casino to the state in November 2006, followed by table games in July 2010. Overall, Pennsylvania’s 12 casinos generated $730 million from table games in 2013, up 6% compared to the previous year, while slot-machine revenue in 2013 actually fell by 3.5% to $2.4 billion.
Interestingly, 11 out of the state’s 12 casinos saw a fall in their slots revenues throughout 2013, with just Pittsburgh’s Rivers Casino recording a small gain of less than 1%. Pennsylvania’s declining slots growth rates have been explained by a maturing slots market, as well as increased competition from neighbouring states, and as gaming board spokesman Doug Harbach, explains:
“There continues to be increased casino competition from all of Pennsylvania’s bordering states and that certainly is affecting year-over-year revenue. The good news is we continue to see revenue numbers from slot machines that are second in the U.S. behind Nevada and tax revenue generation that is the highest. So, in many ways you can still make the argument that Pennsylvania’s casino industry is doing very, very well.”
Table games, however, provided a ray of sunshine for Pennsylvania, with 7 of the state’s casinos reporting gains in revenue, lead by Sands Casino Resort Bethlehem up 21% at $177 million in 2013. On the other side of the coin, however, Presque Isle Downs & Casino recorded the biggest decline, down by 26% compared to 2012.
Despite the 1.4% decline in casino revenues overall, Pennsylvania still remains the second largest gambling market in the USA, and  collected $1.4 billion in taxes throughout 2013. Since the first casino opened in Pennsylvania seven years ago, the state has now collected $16.4 billion in total gaming revenues.

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