Pennsylvania Casinos Up 4.4% To $3.1bn In 2012

admin, January 17, 2013 3:23 pm

Pennsylvania Casinos Up 4.4% To $3.1bn In 2012The Pennsylvania Gaming Control Board has released its casino figures for the whole of 2012, revealing a 4.4% increase in revenue to $3.16 billion compared to $3.1 billion taken a year earlier. In addition, the state collected $1.44 billion in tax revenues throughout the year.
Breaking the 2012 figures down further, Pennsylvania’s 11 casinos generated $687.4 million in gross revenue from table games, while $2.5 billion was accounted for by slot machines. During the year, the Sands Casino Resort Bethlehem topped the state’s table games tally at $146 million in gross revenue. The casino also took in $291 million from slots machine meaning the casino grossed a total of $437 million throughout 2012.
Commenting on Pennsylvania’s overall impressive casino results, RBC Capital Markets gaming analyst John Kempf explained: “Pennsylvania grew so fast because the casinos are located throughout the state and located closer to the main population centers. Location is everything in gaming..it also helps that casinos are across the state and not just in one city.”
Pennsylvania opened its first casino back in 2006, and now boasts 11 modern and attractive casinos which have since managed to usurp neighbouring Atlantic City as the USA’s second biggest gambling market. Putting things into perspective Atlantic City recorded 8% lower revenues in 2012 at $3.05 billion and giving an insight into how Pennsylvania’s casino industry has managed to outshine that of Atlantic City, John Kempf said that the beleaguered neighbour is simply not designed for convenience. Elaborating further, Kempf explained:
“The difference between Pennsylvania and Atlantic City, when it comes to gaming, is that Pennsylvania policymakers made a conscious decision to put gaming where the population is, and New Jersey policymakers made a conscious decision to put gaming away from the population centers. Pennsylvania is a large state that borders populous areas as well, and the gaming operations were placed in a way that makes them convenient to multiple population centers, in state and out of state.”

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