[toc]For the tenth-straight month, Pennsylvania casino slot revenues are down.
The Pennsylvania Gaming Control Board (PGCB) released July slots numbers earlier this month. The figures therein indicated that the state’s year-on-year “losing” streak had yet to come to a close. According to the PGCB’s press release on the latest numbers, slots revenues were down two percent compared to July 2016.
Here’s the official statement from the PGCB:
“The Pennsylvania Gaming Control Board today posted on its web site the monthly report for total gross revenue and tax revenue generated from the play of slot machines at casinos during July. According to the report, gross revenue from slot machines at the 12 casinos fell 2% in July of this year to $209,124,966 compared to the $213,423,774 of gross revenue in July 2016. Tax revenue in July of this year was $102,916,410.”
Meanwhile, table game revenue was up 3.77 percent to $77,855,434.
One-third of state’s casinos posted positive slots growth
Of the 12 casinos in the state, only four of them posted growth over July 2016. Here is a look at the proeprties, their growth, 2017 numbers, and 2016 numbers:
|Valley Forge Casino Resort||9.83%||$7,260,514.75||$6,610,723.61|
|Mount Airy Casino||5.71%||$14,714,440.98||$13,919,806.87|
Valley Forge enjoyed a nearly 10 percent increase in revenue over the same time period in 2016. Along with Mount Airy, they are the only two casinos in the state who experience more than five percent growth.
Eight casinos experience negative growth
It’s a good thing that Parx and Rivers are consistently in the top-three of the state’s slots revenue earners.
Furthermore, gains were absolutely crucial from Parxs, Rivers, Valley Forge and Mount Airy because six of the state’s eight biggest slots-revenue generators experienced decline:
- Harrah’s Philadelphia Casino and Racetrack took at 6.5 percent decline
- Presque Isle Downs and Casino chalked up a 7.8 percent decline
- Lady Luck Casino Nemacolin, saw an 8.76 percent decline
Compounding the losses from slots is the fear that tavern video gambling terminals (VGT) included in the current form of the state’s gambling expansion bill will cut into slots revenue if the bill passes.
The chances of that happening are slim, as Senate lawmakers are vigorously opposed to VGT’s.
Table game revenue up
As we mentioned earlier, table game revenue was up over 2016, thought it’s important to remember that table game revenue brings in about a third of what slots do.
Mount Airy (44.93%), The Meadows Casino (39.57%) and Lady Luck (25.07%) were the big winners, YoY, in July.
Only four casinos experience table games losses:
- Valley Forge Casino Resort: -30.42%
- Mohegan Sun Pocono: -13.36%
- Sands Casino Resort Bethlehem: -2.52%
- Harrah’s Philadelphia: -0.27%
Table-revenue continues to balance out slots losses.