Pennsylvania Casino Revenues Down 1% to $3.2BN in Fiscal 2016/17July 25, 2017 1:43 pm
The Pennsylvania Gaming Control Board (PGCB) has released its latest results for the fiscal period 2016/17, with the state’s 12 casinos having generated a total of $3.2 billion, representing a 0.78% decline compared to the record $3.22 billion collected during the previous year. The Keystone state subsequently received $1.4 billion by way of gambling taxes.
From the 2016/17 period’s tally, table games noted a 3.25% improvement in revenues to $866.5 million year-over-year, while slot revenue went in the opposite direction, falling by 2.2% to $2.33 billion, versus $2.38 billion for the previous year. The figures are indicative of how the verticals have performed over the past year, with slots noting a decline in 10 out of the past 12 months, but table games seeing its year-on-year revenue increase for 9 out of 12 months.
Leading the market over the past year was Sands Bethlehem, whose table game revenue was up by 3% to $235.1 million, while its slots operation fell by 0.39% to $304.16 million. Despite the solid numbers, though, the casino’s president Mark Juliano tendered his resignation recently after three years of service, although no reason has been given for the decision. According to a statement provided by Robert Goldstein, CEO of parent company Las Vegas Sands Corp:
“Mark has been a valuable team member at both Marina Bay Sands in Singapore and as president of Sands Bethlehem. On behalf of the [Las Vegas Sands] management team, I would like to thank Mark for his many efforts and wish him and his family the very best.”
Elsewhere, Parx Casino saw its table game revenue rise by 9.2% to $170.1 million from $155.1 million a year earlier, while slot machine revenue decreased slightly to $386.6 million from the $388.3 million collected in the previous year.
SugarHouse Casino reported a 12.25% increase in table revenue to $118.6 million versus $104.9 million for 206/17, while slot revenue was fairly flat at $178.9 million, compared to the previous 12 month’s figure of $177.1 million.
And finally, Harrah’s Philadelphia Casino posted a slight decrease in table game revenue at $65.6 million from $67.8 million in 2105/16, with its slot machine revenue dipping by 7% to $200.4 million, versus $215.1 million.