As the state’s fiscal year came to a close, the Pennsylvania Gaming Control Board published a record figure for tax revenue – standing at over $2.3bn for 2022/23.
Signalling record numbers for the Keystone State’s regulated gambling sector, tax revenue generated during the combined fiscal year reached a record £2,369,249,258, the majority of which derived from slot machine revenue.
For 2022/23, total gaming revenue came in at $5.5bn, an increase of 9.33 per cent on 2021/2022’s previous record-high statistics of $5.04bn, with a similar uptick in tax revenue of 9.67 per cent from 2021/22’s $2.16bn.
Throughout the fiscal year, slot machine revenue contributed a total of $2.45bn, a 1.74 per cent increase on the previous year’s figures of $2.41bn. This represents the state’s second highest-performing fiscal year for slot machine revenue, second only to 2011/12’s $2.47bn.
While Parx Casino, Wind Creek Bethlehem, Rivers Casino Pittsburgh and Mohegan Pennsylvania contributed the most slot machine revenue, the sector’s tax revenue amounted to more than $1.36bn.
The fiscal year also saw an impressive performance in Pennsylvania’s igaming sector, which increased by 24.38 per cent to $1.53bn from 2021/22’s $1.23bn. This robust performance led to a tax revenue contribution of $652m.
Other sectors to publish positive results were video gaming terminals, witnessing a 1.28 per cent uptick to $42m, and sports wagering, which recorded a substantial 55.82 per cent increase from $315m (2021/22) to $491m.
As a result of the performance of both sectors, video gaming terminal tax revenue stood at $21.9m and sports wagering tax revenue contributed $117.1m
However, not all sectors had witnessed growth in the 2022/2023 fiscal year, as fantasy contests revenue came in at $20.6m, citing a 24.32 per cent decrease from the previous fiscal year’s $27.3m.
Additionally, retail table games revenue waivered, falling by 4.11 per cent to $974m from 2021/2022’s $1.01bn. Fantasy tax revenue contributed $3.1m, while retail table games tax revenue was at $158.15m.
