PA Casino Shutdowns Mandated by Covid-19 Precautions Leads to Overall Revenue Reduction in March
However, iGaming play and revenue has increased
HARRISBURG, PA — Closures of all Pennsylvania casinos in March due to mandated restrictions to protect citizens from the Covid-19 virus led to a 51% drop in overall revenue for the month.
Figures released today by the Pennsylvania Gaming Control Board show that revenue from gaming and fantasy sports contests during March 2020 was $153,481,368 compared to $316,279,316 in revenue generated in March 2019.
Sources of gaming revenue regulated by the Board include slot machines, table games, internet gaming, retail and internet sports wagering, fantasy contests and video gaming terminals.
In releasing these new figures, the Board is noting that revenue for casino-type games offered online increased 24.5% during March when compared to the previous month of February 2020 when there was a full month of play at games offered at the now-shuttered casinos.
While games available through the internet continue to operate, land-based casino games including slot machines, table games and retail sports wagering along with Video Gaming Terminals (VGTs) ceased operating mid-month.
Total tax revenue generated collectively through all forms of gaming and fantasy contests was $62,183,897* during March of 2020.
Slot Machine Revenue
March’s gross revenue from slot machines at the 12 casinos was $87,562,756, a 61% decrease in revenue when compared to the $226,597,681 generated in March 2019.
The average number of slot machines operating on a daily basis was 24,104 during March 2020 compared to 25,238 at the casinos in March 2019.
Tax revenue from the play of slots machines in March of this year was $45,212,087*.
Table Games Revenue
Table games revenue for March 2020 was $33,105,591, a decrease of 59.9% over March of last year when revenue was $82,527,450.
Total tax revenue from table games play during March was $5,322,528* with an average of 1,274 tables in daily operation statewide.
Internet Casino-Type Gaming Revenue
Casino games offered online generated gross revenue of $24,265,820 during March. That figure is 24.5% higher than the previous month of February 2020 when revenue was $19,490,815.
Tax revenue generated from internet gaming play during March was $8,574,877*.
Sports Wagering Revenue
March 2020 total sports wagering handle from 13 retail and 9 online outlets was $131,330,059 compared to the February 2020 total of $329,765,782. At the same time, the taxable revenue figure for March 2020 was $6,889,255 or 45.9% higher than February 2020 taxable revenue of $4,722,252.
Tax revenue generated from sports wagering during March was $2,480,132*.
Video Gaming Terminals
Total adjusted revenue for March for video gaming terminals (VGTs) was $934,004 compared to $1,341,936 in February, a decrease of 30%. Each of the establishments operated the maximum of 5 machines. By the close of March, a total of 25 truck stop establishments under two operators reported revenue.
Tax revenue collected from the play of VGTs in March was $485,682*.
Fantasy Contests revenue was $723,942 in March 2020, a decrease of 56% over March of last year when revenue was $1,634,845.
Tax revenue collected from the play of Fantasy Contests in March of this year was $108,591*.
*Tax revenue figures reflect amount generated prior to any adjustments by the PA Department of Revenue
About the Pennsylvania Gaming Control Board
The Pennsylvania Gaming Control Board is tasked to oversee all aspects of gambling legalized under 2004’s Race Horse Development and Gaming Act and the Gaming Expansion Act of 2017. In addition to slot machine and table games gambling at land-based casinos, the expansion includes online casino games available to date on seven sites; sports wagering offered through sportsbooks at 13 retail locations and through eight online outlets; video gaming terminals (VGTs) at qualified truck stops; and, fantasy sports contests through eight providers.
The mature land-based casino industry in Pennsylvania currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos. These facilities collectively employ over 16,000 people and, along with other types of Board-regulated gaming, has annually generated over $1.5 billion in tax revenue.
Additional information about both the PGCB’s gaming regulatory efforts and Pennsylvania’s gaming industry can be found at https://gamingcontrolboard.pa.gov/. You can also follow the agency on Twitter by choosing @PAGamingControl.
CONTACT: Doug Harbach or Richard McGarvey, T: (717) 346-8321.
SOURCE: The Pennsylvania Gaming Control BoardTags: Pennsylvania Gaming Control Board, Pennsylvania casinos