PGCB studies casinos’ impact on horse racing
A report from the regulator PGCB studies the impact of casino gaming on the local horse racing industry.
US.- The Pennsylvania Gaming Control Board (PGCB) has released its Annual Racetrack Casino Benchmark Report. In the report, the regulator details the impact of local casinos on the horse racing industry in 2018.
Among the report’s findings is that tax generated by the play of slot machines amounted to US$242 million that was earmarked for enhancements of race purses, assisting breeding operations located in Pennsylvania, providing health and pension benefits for horsemen, and to support agricultural initiatives.
The report also details that casinos that also feature racetracks continue to invest in backstretch investments. Data shows that since 2006, operators have spent over US$73 million to build or renovate buildings.
There are three horse racing tracks operating in conjunction with casinos in the state: Parx Casino in Bucks County, Presque Isle Downs & Casino in Erie County and Hollywood Casino at Penn National Race Course in Dauphin County.
Slot machine revenue up in May
The regulator recently released the monthly report for total gross revenue and tax revenue generated from slot machines at Pennsylvania casinos in May 2019. The report from the PGCB indicates that combined gross revenue from slot machines at the local 12 casinos in May of the current year was US$209.5 million. This figure was 2.7% higher than the gross revenue figure of US$203.9 million registered in May 2018.
According to the report, Parx Casino totalled US$37 million in slot machine revenue in May 2019, which is a 3.7% increase when compared to the US$35.7 registered in 2018. Wind Creek Bethlehem, formerly called Sands Casino, was the second highest revenue scorer with US$26.1 million, but it was a 3.24% decrease from 2018. Rivers Casino completes the top 3 with US$25.6 million and a 12.9% increase, the highest in the state.