July slots revenue way up
August 3, 2010 Leave a comment
Slot revenue figures from Pennsylvania’s nine casinos suggest traffic has increased, in the month since table games have been introduced.
Slots generated $116 million in tax revenue for the state last month. Of the eight casinos open this time last year, six saw increased figures, compared to July 2009.
The Sands Casino’s slots revenue jumped 25 percent, while Philadelphia Park’s increased by 19 percent. On the flip side, Meadows slots revenue dropped 20 percent, and Harrah’s stayed about even.
Gaming Control Board spokesman Doug Harbach attributes the slots uptick to table games.
Earlier this week, the Revenue Department announced table games produced $1.6 million dollars worth of tax money in July. That’s below the $6.2 million dollar monthly estimate, but Harbach says the figure only covers a stretch of about two weeks. “The way this is working for table games is the Revenue Department isn’t requiring the casinos to report their final figures for a month, until the 20th of the following month,” he explains. “So until they get it, then we get it, it will be after the 20th of each month until we get a reconciled figure.”
Slots are taxed at a 55 percent rate, while table games are subject to a lower 16 percent levy.