Gaming revenue drops in fiscal year

While the coronavirus pandemic is far from over, the Pennsylvania Gaming Control Board produced yet another report showing how much it is affecting the state’s gambling industry.

For the full fiscal year of 2019-20, which ended June 30, gaming revenue was $2.7 billion, down 18% from the previous year’s total of $3.3 billion. The PGCB said the figure was a direct result of casino shutdowns for nearly three months along with the stoppage of sports, which is affecting sports wagering.

Tax revenue for the year was $1.1 billion.

Slot machines

Gross revenue was $1.6 billion, a 29% drop from $2.3 billion the previous year.

At Wyomissing-based Penn National Gaming Inc.’s two casinos, Hollywood Casino at Penn National Race Course in Dauphin County and The Meadows Casino in Washington County, revenue was $147.7 million and $140.8 million, respectively. Hollywood Casino, which was closed for 101 days, saw a drop of 28.1% and The Meadows, closed for 84, was down 31.6%.

Other regional casinos reported:

• Parx Casino, closed for 106 days, was down 27.9% to $300.4 million.

• Harrahs’ Philadelphia, closed for 104 days, was down 30.6% to $136.1 million.

• Rivers Casino Philadelphia, which remains closed, was down 32.2% to $123.5 million.

• Valley Forge Casino Resort, closed for 105 days, was down 22% to $75.1 million.

Table games

Table games were down 27% to $644.5 million overall. It was $885.5 million the previous year.

Hollywood Casino saw a drop of 24% to $27.6 million and The Meadows was down $30.2% to $24.4 million.

• Parx Casino was down 27.6% to $137.8 million.

• Rivers was down 26% to $94.4 million.

• Harrah’s was down 28% to $42.4 million.

• Valley Forge was down 30.5% to $26.5 million.

Sports wagering

With sports wagering completing its first full year of being legal in Pennsylvania, it saw a 423% increase over the previous fiscal year, taking in a total of $113.7 million.

Valley Forge Casino saw the largest increase — $3,252% to $40.8 million. Rivers was up 261% to $17.8 million and Parx was up 252% to $15.6 million. Harrah’s was only up 47% to $1.6 million.

Meanwhile, Hollywood saw a drop of 26% to $1.6 million.