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Gambling in the USA

PGCB Reports December Sports Wagering Revenue

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7 years ago

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PGCB Reports December Sports Wagering Revenue
Photo Source: usflagstore.com
Reading Time: 2 minutes

 

The Pennsylvania Gaming Control Board posted on its web site its December monthly report for Sports Wagering. The report encompasses the full month returns from Hollywood Casino at Penn National Race Course and partial month returns from SugarHouse Casino in Philadelphia and Rivers Casino in Pittsburgh which both started sports wagering operations on Saturday, December 15, 2018.

The monthly report, which will include additional facilities as they launch sportsbooks, provides a breakdown of the total handle collected, gross revenue, and taxes paid to the Commonwealth.

Casino

Handle

Revenue

Tax

Rivers Casino*

$5,581,553

$1,066,157

$383,816

SugarHouse Casino*

$5,539,806

$641,167

$230,820

Hollywood Casino at Penn National Race Course

$5,051,730

$299,222

$107,720

Statewide Total

$16,173,090

$2,006,546

$722,356

*includes revenue generated during two-day test periods prior to commencing regular operations.

A total of $722,356 of tax revenue was generated and returned to the Commonwealth from sports wagering during December 2018:

•

State Tax (34% of adjusted gross revenue): 

$682,225.55

•

Local Share Assessment (2% of adjusted gross revenue): 

$  40,131.92

 

About the Pennsylvania Gaming Control Board:

The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state’s casino industry, along with oversight of new gaming initiatives created through amendments to the Race Horse Development and Gaming Act recently approved by the signing of Act 42 of 2017. To date, the PGCB regulates the play within the Commonwealth of Fantasy Sports Contests along with four casino operators offering Sports Wagering. Additional new gaming initiatives are expected to launch in the coming months.

The Commonwealth’s casino industry currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos.  These facilities collectively employ 17,000 people and annually generate approximately $1.4 billion in tax revenue from slot machine and table games play. The largest portion of that money is used for property tax reduction to Pennsylvania homeowners.

Additional information about both the PGCB’s gaming regulatory efforts and Pennsylvania’s gaming industry can be found at gamingcontrolboard.pa.gov.

Source: Pennsylvania Gaming Control Board

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George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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