According to annual figures released by the Pennsylvania Gambling Control Board (PGCB), licensed gambling operators contributed $2.54 billion in tax revenue for fiscal year 2023-2024.
Pennsylvania Gambling Control Board monitors 17 land-based casinos, online casino games, and online sports wagering
The $2.54 billion surpassed the previous all-time record set for gaming revenue and tax revenue in fiscal year 2022-2023, with $5.5 billion and $2.36 billion respectively.
This 2023-2024 tax figure is “the result of a record combined revenue generation of over $5.89 billion from casino slot machines and table games, iGaming, sports wagering, video gaming terminals (VGTs), and fantasy sports contests,” the PGCB’s report reads.
“The previous high for gaming revenue and tax revenue in a fiscal year was during 2022-2023, with $5.5 billion and $2.36 billion respectively. The estimated amounts for revenue and taxes being reported are prior to any possible adjustments by the PA Department of Revenue,” the PGCB added.
The PGCB monitors the Keystone State’s gambling. This includes “17 land-based casinos, online casino games, retail, and online sports wagering, and Video Gaming Terminals (VGTs) at qualified truck stops, along with the regulation of online fantasy sports contests,” according to the press release.
Fiscal year 2023-2024 gross revenue from slot machines at the casinos was $2.43 billion. That’s a 0.56% decrease in revenue when compared to the $2.45 billion generated in fiscal year 2022-2023.
Parx Casino led all other operators with $377.03 million in slot revenue for fiscal year 2023-2024. It was a 3.31% decline when compared to the $389.94 generated in fiscal year 2022-2023.
Tax revenue from sports betting for fiscal year 2023-24 was $175.16 million
Tax revenue from sports wagering in fiscal year 2023-2024 was $175.16 million as well. Fiscal year 2023-2024 revenue for VGTs at Truck Stops was $41.10 million. It was 2.40% drop when compared to the $42.11 million in fiscal year 2022-2023.
Additionally, tax revenue from VGTs in Fiscal Year 2023-2024 was $21.37 million.
Fiscal year 2023-2024 gross revenue from table games at the casinos was $958.02 billion. Of course, that’s a 1.64% decline in revenue when compared to the $974.01 billion reported in fiscal year 2022-2023.
Tax revenue from operators regulated by the PGCB is returned to residents in a number of ways. The tax proceeds go towards school property tax reduction on an owner’s primary residence.
Furthermore, tax proceeds also help fund state, county, and local economic development. This includes safety and recreational projects, along with support of the agricultural industry through support of horse racing, Revenue also funds the Commonwealth’s General Fund.
The PGCB is an independent state agency tasked with protecting the public’s interest through the regulation of gambling. This includes casino, iGaming, sports wagering, and video gaming terminal (VGT) gambling. Plus, fantasy sport games are also regulated.
It monitors operators and performs these tasks at no taxpayer expense. The PGCB is located at 303 Walnut Street on the fifth floor of Commonwealth Tower in Harrisburg.
