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PA Casino Slot Machine Revenue Up Over 1% in January

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The Pennsylvania Gaming Control Board posted on its web site today the monthly report for total revenue generated from the play of slot machines at casinos during January 2019.

According to the report, January’s gross revenue from slot machines at the 12 casinos was $179,842,151, a 1.15% increase in revenue when compared to the  $177,795,127 generated in January 2018. Tax revenue from the play of slots machines in January of this year was $93,626,818*.

The average number of slot machines operating on a daily basis was 25,280 during January 2019 compared to 25,808 at the casinos in January 2018.

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

Casino

January 2019

January 2018

% Change

Parx Casino

$33,172,409.70

$30,960,203.10

7.15%

Rivers Casino

$23,381,259.11

$21,078,973.41

10.92%

Sands Casino Resort Bethlehem

$21,340,125.38

$23,004,850.59

-7.24%

Harrah’s Philadelphia Casino

$15,567,480.46

$15,736,121.17

-1.07%

The Meadows Casino

$15,377,205.58

$14,853,503.40

3.53%

Hollywood Casino at Penn National Race Course

$15,139,083.79

$15,374,217.68

-1.53%

SugarHouse Casino

$14,611,151.34

$13,887,887.29

5.21%

Mohegan Sun Pocono

$14,180,317.99

$15,587,225.68

-9.03%

Mount Airy Casino Resort

$9,840,350.80

$10,649,829.97

-7.60%

Valley Forge Casino Resort

$7,970,404.11

$6,730,652.34

18.42%

Presque Isle Downs and Casino

$7,638,206.65

$7,896,762.98

-3.27%

Lady Luck Casino Nemacolin

$1,624,155.73

$2,034,899.71

-20.18%

Statewide Total

$179,842,150.64

$177,795,127.32

1.15%

*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 six locations. 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 nearly 17,000 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.

CONTACTS:

Doug Harbach or Richard McGarvey

(717) 346-8321

SOURCE Pennsylvania Gaming Control Board

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: PA Casino Slot Machine Revenue Up Over 1% in January

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UNITE HERE Warns About Potential Gaming Tax Revenue Declines, Job Cuts, and Other Problems of Proposed Merger of Eldorado Resorts and Caesars Entertainment

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Eldorado Resorts and Caesars Entertainment jointly announced a proposed transaction to combine the two corporations, pending shareholder and regulatory approvals. The deal is to be based on $7.2 billion of new debt financing and $500 million of cuts and other “synergies.” UNITE HERE, the hospitality workers union, represents approximately 25,000 workers at Caesars and Eldorado properties.

UNITE HERE-represented union casinos accounted for approximately 68% of the pro forma $30 billion combined Caesars-Eldorado EBITDAR in 2018. These 22 UNITE HERE union casinos altogether include over 50% of the combined company’s total hotel rooms, over 30% of its total slots, and nearly 40% of its total table games. UNITE HERE locals are currently in contract negotiations with Eldorado at Circus Circus Reno and Isle Pompano Beach. Contracts at six additional UNITE HERE union casinos in the combined Caesars and Eldorado portfolio will expire in 2020, including four properties in Atlantic City.

UNITE HERE issued the following statement from President D. Taylor:

“UNITE HERE has had a positive relationship with Caesars Entertainment over the years, and 25,000 union members have been excited to help the company reinvest and rebuild as it recovers from the disastrous leveraged buyout led by Apollo and TPG. It is in this context that we approach the proposed sale of the company with great concern.

Yesterday, Eldorado announced cost-savings of $500 million in the first year of the combined company. Where are they going to cut? We will not stand by idly if the proposed Caesars-Eldorado transaction will lead to significant job losses, worse wages and benefits for our members, and lower state gaming tax receipts in the many communities where members we represent work and live. Casinos operating under privileged licenses are meant to create significant benefits for host communities, including family-sustaining jobs and local government funding based on gaming taxes.

We will support changes at Caesars that preserve the company’s long-term financial health and provide a sustainable path to good jobs in vibrant gaming markets across the country.”

2018, 7,700 UNITE HERE members went on a multi-city strike at Marriott hotels across the United States and won historic settlements in Boston, Detroit, San Francisco, San Jose, Oakland, San Diego, and Hawaii.

UNITE HERE represents over 300,000 hospitality workers in gaming, hotel, and food service industries in North America and provides analysis from the perspective of those who work in these industries.

 

Source: UNITE HERE

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: UNITE HERE Warns About Potential Gaming Tax Revenue Declines, Job Cuts, and Other Problems of Proposed Merger of Eldorado Resorts and Caesars Entertainment

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UK NHS to Open Gambling Clinic for Children

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The UK’s NHS is going to open its first gambling clinic for children.

According to the Gambling Commission, there are 55,000 children classed as having a gambling problem in Britain. The Commission also found that a total of 450,000 are gambling regularly.

“This action shows just how seriously the NHS takes the threat of gambling addiction, even in young people. The links between problem gambling and stress, depression and mental health problems are growing and there are too many stories of lives lost and families destroyed,” Simon Stevens, the NHS England chief executive said.

The move was welcomed by Carolyn Harris, the Labour MP for Swansea East, who said attitudes around problem gambling was at last shifting. “For too long the industry has dismissed problem gambling but now is the time for polluters to pay,” she said.

“The clinic will open as part of a new network of services for addicts being rolled out as part of the NHS Long Term Plan. Specialist face-to-face NHS treatment for gambling addiction has only been available in London but is being made available across the country as part of the new strategy,” NHS England said.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: UK NHS to Open Gambling Clinic for Children

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Mobile Betting Bill Fails to Progress Through New York Assembly

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Senator Joseph Addabbo’s mobile betting bill has failed to progress through the New York Assembly. The legislative session saw S17 fail to progress beyond the Assembly Standing Committee on Codes.

Addabbo tweeted that he saw no clear reason why the state could not implement mobile sports betting in 2019. Failure to do so would see the state miss out on around $75m in revenue, funding for education, and both job creation and retention.

“NY will be stuck like a disabled car on the shoulder, while we allow an illegal sports betting business in our state thrive and idly watch other neighboring states pass us up with enormous revenue gains from mobile sports betting,” Addabbo said.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Mobile Betting Bill Fails to Progress Through New York Assembly

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