The Pennsylvania Gaming Management Board introduced not too long ago that the state had collected record-breaking tax income for the 2023-24 fiscal 12 months. The state introduced in $2.54 billion from all types of gaming together with casinos, on-line gaming, dwell and on-line sports activities wagering, video gaming terminals (VGTs) at truck stops, and fantasy sports activities.
This state’s gaming trade noticed a report mixed income of virtually $5.9 billion. The earlier fiscal 12 months highs got here in 2022-23 with $5.5 billion in income and $2.36 billion in taxes.
Gaming taxes within the Keystone State are used for college property tax discount, in addition to state, county, and native financial growth, security, and leisure initiatives, help of the agricultural and horse racing industries, and as income towards the state’s normal fund.
Right here’s a have a look at income and taxes by gaming sector for the 2023-24 fiscal 12 months:
Slot machines – $2.4 billion, $1.3 billion in taxes
Desk video games – $958 million, $157.6 million in taxes
On-line gaming – $1.9 billion, $841.7 million in taxes
Sports activities betting – $486.6 million, $175.2 million in taxes
VGTs – $41.1 million, $21.4 million in taxes
Fantasy sports activities – $19.3 million, $2.9 million in taxes
On-line gaming noticed the largest features of any sector for the fiscal 12 months, with income up 27.1% in comparison with the $1.5 billion generated in fiscal 12 months 2022-23. When all gaming platforms, Rivers On line casino Pittsburgh got here out because the chief within the state with $350 million. That’s adopted by Hollywood On line casino on the Meadows with $325 million and Reside! On line casino in Greensburg at $115 million.
Pennsylvania gaming income continues to climb and that continued in June. On-line on line casino gaming remained a key driver with month-to-month gross income of $160.6 million, up 18.6% from $135.4 million final June. Regardless of these figures, on-line poker stays largely stagnant in Pennsylvania in addition to in New Jersey.
