pennsylvania casino revenues after ilottery

In August, Sands expanded its stadium style gaming to include a $5 blackjack arena. This is no greater evidenced than the recent proliferation of live action terminal table gaming. Pennsylvania is subject to an otherworldly 54% tax rate on slots, compared to just 16% on table games, so it’s little wonder why operators are choosing to focus more casino floor real estate and marketing spend to table games.

Though less pronounced in 2017, it’s still worth discussing these two multi-year trends - the decline of slot revenue and increase in table game prevalence. The past few months of mostly positive gains have resulted in some healing, however, and slot revenue was down just 1.4% for the year. As of September, we suspected that slot revenue would be significantly lower year-on-year.In 2017, table games registered a more modest 4.0% gain. From 2011-2016, there was only one year when revenue from felt, and now stadium, games has risen less than 5.5%. While total industry revenue has been relatively static, table game revenues have not.Revenue was up 0.42% over 2017, and 1.67% over 2015, landing at just under $3.227 billion for the year.ĭespite the record, this year’s narrative is one of continued stability, with revenue having not varied too much since the first full year table gaming was permitted, 2011. The final numbers are in for 2017, and Pennsylvania casinos have combined to set a new revenue record, but just barely. Harrah’s Philly, Meadows, and Mohegan Sun also saw their market shares dip below their annual average in December. In particular, both Mount Airy and Presque Isle struggled, with the former capturing just a 5.3% share (6.1% annual average), and Presque Isle a 3.2% share off a 3.9% annual average.

On the flip side, a number of the state’s smaller casinos had below average months. Interestingly, all of the state’s top revenue generating casinos captured more market share in December than they did for 2017. The two Rush Street Gaming properties came in third and fourth, with Rivers Casino holding a 11.1% market share, and SugarHouse Casino a 9.5% share.

Parx generated $48.2 mm last month, good for a 18.3% share of the market, while Sands once again dominated table game revenue (27.8% market share) en route to a 17.4% total market share. In terms of market share, December was mostly like other months in 2017, with Parx Casino leading the way, followed closely by Sands. Table games accounted for 28.79% of total revenue, which is moderately above the yearly prevalence of 27.6%. Pennsylvania casinos produced their seventh highest revenue tally of the year in December, compared to last year when December was the industry’s third worst month.

Pennsylvania casino revenues after ilottery