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Gambling in the USA

Pennsylvania Slot Machine Revenue Up 2.7% in May

George Miller

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Pennsylvania Slot Machine Revenue Up 2.7% in May
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The Pennsylvania Gaming Control Board 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 May 2019.

According to the report, the combined gross revenue from slot machines at the 12 casinos in May of this year was $209,579,851.21, 2.7% higher than the May 2018 gross revenue figure of $203,993,259.

Gross slot machine revenue for each of the casinos is as follows, with the percentage change reflected over the previous year:

Casino

May 2019

May 2018

% Change

Parx Casino

$37,038,375.06

$35,708,089.14

3.73%

Wind Creek Bethlehem (formerly Sands Casino)

$26,135,435.56

$27,009,310.35

-3.24%

Rivers Casino

$25,612,121.67

$22,676,245.11

12.95%

The Meadows Casino

$18,677,481.02

$17,359,254.44

7.59%

Hollywood Casino at Penn National Race Course

$18,312,915.72

$18,103,917.80

1.15%

Mohegan Sun Pocono

$17,047,557.50

$17,436,510.90

-2.23%

Harrah’s Philadelphia Casino and Racetrack

$16,965,046.72

$17,242,944.85

-1.61%

SugarHouse Casino

$15,563,286.02

$15,548,589.92

0.09%

Mount Airy Casino Resort

$12,450,848.68

$12,609,468.23

-1.26%

Presque Isle Downs and Casino

$10,328,658.95

$9,940,269.55

3.91%

Valley Forge Casino Resort

$8,867,509.89

$7,947,054.14

11.58%

Lady Luck Casino Nemacolin

$2,580,614.42

$2,411,604.59

7.01%

Statewide Total

$209,579,851.21

$203,993,259.02

2.74%

Tax revenue in May of this year was $108,199,942.*

The average number of slot machines operating throughout Pennsylvania was 25,168 in May 2019 compared to 25,840 in May 2018.

*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 the state’s casino industry, including sports wagering offered currently at eight locations and online by one casino. The oversight also includes other new gaming initiatives, expected to be launched in the coming months, which were created through Act 42 of 2017, an amendment to the Race Horse Development and Gaming Act.

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 over 16,000 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. You can also follow the agency on Twitter by choosing @PAGamingControl.

Source: Pennsylvania Gaming Control Board

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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Gambling in the USA

Oklahoma Tribal Leaders Approve a Resolution against Governor’s Gambling Plan

Niji Narayan

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Oklahoma Tribal Leaders Approve a Resolution against Governor’s Gambling Plan
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The leaders of Oklahoma-based Cherokee, Chickasaw, Choctaw, Muscogee (Creek) and Seminole nations have approved a resolution denouncing the new Republican governor’s plan to force negotiations for a bigger slice of revenue from Oklahoma’s tribal casinos.

The Inter-Tribal Council of the five civilised tribes approved the resolution during a meeting in Tulsa.

Last week, Gov. Kevin Stitt said that the existing compacts should be reevaluated now that the gambling industry has matured in Oklahoma.

Tribal leaders and the governor disagree over what triggers a 15-year renewal of the compacts.

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Compliance Updates

Sports Betting Becomes Legal in New Hampshire

Niji Narayan

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Sports Betting Becomes Legal in New Hampshire
Photo Source: reviewjournal.com
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New Hampshire has become the latest U.S. state to legalise sports gambling. Gov. Chris Sununu signed into law a measure that legalises betting on professional sports and most Division I college sports, excluding games involving New Hampshire schools. The state Lottery Commission will regulate the new industry.

“We can do it with a lot of confidence because it’s being done responsibly, and it’s being done with an organization here at the lottery that just knows what they’re doing. They know how to get this stuff off the ground,” Sununu said.

Opponents had argued sports betting would continue the state’s reliance on problematic revenue sources, including alcohol and cigarettes, the so-called “sin taxes.” But supporters argued legalising of sports betting will bring black-market activity to the surface and provide support for problem gamblers through a new organisation focused on education, prevention and treatment.

“I’m happy we’re bringing an illicit activity into the light for our citizens of New Hampshire and allowing for some consumer protections,” Rep. Timothy Lang said. He called it a win for residents, communities, the state and public education.

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Gambling in the USA

Twin River Worldwide Signs Agreement to Acquire Two Casinos from Eldorado Resorts

Niji Narayan

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Twin River Worldwide Signs Agreement to Acquire Two Casinos from Eldorado Resorts
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Twin River Worldwide Holdings has entered into a definitive agreement to acquire the Isle of Capri Casino in Kansas City and Lady Luck Casino in Vicksburg from Eldorado Resorts in a cash transaction for $230 million.

The purchase price represents an implied trailing twelve month proforma earnings before interest, taxes, depreciation and amortisation multiple of approximately 8.4× for the properties on a combined basis.

“This transaction continues our focus on creating long-term shareholder value as we strive to develop or acquire assets which we believe will prove accretive to our earnings,” George Papanier, President and CEO of TRWH said.

“Isle Kansas City and Lady Luck Vicksburg expand our geographic footprint with assets in attractive markets. We believe these assets are a great fit for our portfolio and see the opportunity to increase the net cash flow from these properties by our redevelopment and operating plans. In particular, in Kansas City, where the property lies within an area near downtown that has been targeted by local officials for development, we feel there is opportunity for capital investment in the property which we believe will have a transformative impact and integrate well with local development efforts in the area,” George Papanier added.

The transaction is subject to receipt of required regulatory approvals and is expected to close in early 2020.

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