On Monday, the 16th of April 2016, The Pennsylvania Gaming Control Board released the financial figures for last month that showed an 11.6% increase in revenues for table games, in Pennsylvania, for the month of April 2016.
The casino industry in Pennsylvania, which launched in 2006, has grown a lot over the last decade, with table games revenues reaching an all-time high this year and an increase in gambling revenues in neighboring state, New Jersey, experts predicted further growth for the Keystone State’s gaming market.
Plus 11,6% Year on Year
Table games in Pennsylvania generated $72,206,809 in April 2016; which translated to an 11.6% year over year increase compared to April 2015, when the table games revenues was reported at $64,684,083. Gambling in the state has been going strong for a while now; April 2016 marks the 22nd consecutive month that saw an improvement in table game revenue in state’s casinos.
It probably comes as no surprise that Sands Casino Resort Bethlehem located in Bethlehem, Pennsylvania, which acquired their table games license in the winter of 2009, collected the highest amount in revenues for table games, amongst the twelve casinos in the state; with revenues of $17.7 million, just like any other month over the past three years.
Parx Casino and Racing, the largest casino gaming complex in the state, generated the second largest amount for table games; the Bensalem based Parx reported revenues of $14.5 million for April 2016.
SugarHouse Casino, located in the Fishtown neighborhood of Philadelphia, Pennsylvania was awarded their gaming license on the 20th of December 2006, alongside five other stand-alone casinos – Harrah's Philadelphia Casino & Racetrack in Chester, Mohegan Sun at Pocono Downs in Wilkes-Barre, Parx Casino and Racing in Bensalem, Hollywood Casino at Penn National Race Course in Grantville, Pennsylvania, Presque Isle Downs and Casino in Erie and The Meadows Racetrack and Casino in Washington. They produced the third highest revenues for table games and reported a figure of $9.7 million, in the month of April 2016.
The Mount Airy Casino Resort located in Mount Pocono, Pennsylvania, one of the two AAA 4 Diamond Casino Resorts in the state, hauled in $3.5 million in table games revenue last months and was the fourth highest contender amongst the 12 casinos in the state.
When combined with the slot machine revenues, which were reported earlier this month by the Gaming Control Board, the total take for casinos worked out at more than $281 million, for April 2016. Overall gaming revenues have also had a good streak, month-over-month improvements in overall income has been clocked for each of the last eight months, since August 2015.
Richard McGravey, the spokesman of the Pennsylvania Gaming Board stated, “Total gaming revenue was 3.9% higher than April of last year, the 8th consecutive month in which overall casino gaming revenue has increased in Pennsylvania. The last decrease occurred in August 2015.”
After looking at the combined results for table games and slot machines, it has been noted that the combined results for total gaming revenues reveal that Parx Casino is the leader, with its profits of $48.5 million; they also experienced a 9.17% increase in revenues from last month.
Sands Casino Resort Bethlehem, which reported slightly lower numbers, generated total gaming revenue of $43.8 million, in April; they also experienced a 2.23% increase in total gaming revenues compared to March 2016.
The excellent performance by the casinos in Pennsylvania contributed to the $121.9 million that was collected in taxes, in April. If this upward trend in revenues continues and online gaming is legalized in the state, gambling could soon become the most lucrative source of funds for the state government.