Gross revenue from Penn. slot machines rises 5.5 percent

Jul 9, 2012 10:09 AM

Gross revenue from slot machines rose 5.5 percent for the fiscal year that just ended, according to state figures, with tax revenue generated by casinos up 4.8 percent to $1.3 billion.

The state’s 11 casinos brought in gross slots revenue of nearly $2.5 billion for the fiscal year that ended June 30, according to the Pennsylvania Gaming Control Board.

Figures released this week include revenue from the state’s newest casino, Valley Forge Casino Resort, which generated $11.8 million in gross slots revenue.

Two casinos, both facing increased competition in their regions, saw declines for the 12-month period. Harrah’s Philadelphia Casino & Racetrack in Chester, reported $263.6 million in gross slots revenue, down from $280.4 million. In Erie, Presque Isle Downs Casino reported a total of $164.9 million, down 2.9 percent.

Harrah’s is struggling to find ways to compete in the crowded Philadelphia market, where it’s up against three other casinos nearby in Pennsylvania as well as out-of-state competition in New Jersey, Delaware and Maryland.

Sugarhouse Casino in Philadelphia saw a 60 percent increase in gross revenue — from $118.6 million to $189.9 million.