More sports betting sites were established and casino revenue increased
Now, one thing that is obvious is that the casino world witnessed an increase in the number of sports betting sites added to its ranks within the last one year. A survey that was carried out by the Pennsylvania Gaming Control Board in January this year and published on its website revealed that in January this year alone, the table games made revenue of up to $74,409,695. A look at this will reveal an increase of about 4.75 percent in what it used to be in January 2018, which was about $71,032,273.But that is not the only game where revenues have increased. This article shows you more information.
Slot games revenue
Now, when you move to the angle of the slot games, you will also see that they recorded a very huge growth in revenue. The slots recorded an increase of 2 percent when we consider its revenues in January 2018 and that of January 2019. However, the increase in revenue is not just on the general level, because the tax revenue of table games also increased.
The January of 2019 saw a total amount of tax revenue of $11,950,299. The report also stated that the table games recorded 1,279 active tables on a daily basis. Here, we are talking about the amount of money made even before the PA Department of Revenue made their normal adjustments.
Full details of the report
Detailing the report in full, the gross revenue of January had slot machines at $179,842,151 in 12 casinos. This is seen as a huge departure from what it was in 2018. It recorded an income of $177,795,127, signaling an increase of about 1.15 percent. In January 2019, the amount of tax revenue generated from playing slot games stood at $93,626,818. Also, in the slot angle, it was discovered that an average of 25,280 slots operate every day. This is against the 25,808 that was operational in 2018. So, it points to the fact that though lesser number of slots was in action in 2019, more revenue was witnessed.
A look at how some casinos faired
In some casinos like the Parx, Rivers and Sands, some significant trends were noticed. Parx for instance had a 7.15 percent increase in slots revenue to close at $33.2M in January, 11.56 percent increase to close at $16.3M for the table games, and total revenue of $49.5M, which signals a 8.56 percent overall increase.
When it comes to the Rivers Casino, the slot revenue got to $23.4M, which is a 10.92 percent increase. That of table games got to $4.9M which is an 8.46 percent increase, while on the total, the revenue increased by $6.9M, which translates to an additional 19.39 percent increase of what it was.
Sands Casino came with $21.3M increase in revenue from the slots in January 2019, signaling a 7.24 percent growth. For the table games, it was a 0.51 percent to close at $18M. On the general hand, revenue increase for January 2019 for the entire casino is $39.4M, meaning a 4.27 percent growth. So, from all the casinos considered, you would have noticed that none of them failed to experience a considerable growth in revenue from what it gained last year.
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