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Casinos report record fiscal year revenue

By Brad Hundt staff Writer bhundt@observer-Reporter.Com 2 min read
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Fueled by increased interest in table games, sports wagering and internet gaming, Pennsylvania’s casinos pulled in a record-setting amount of revenue in the fiscal year just ended.

According to numbers released Tuesday by the Pennsylvania Gaming Control Board (PGCB), revenue in the year beginning July 1, 2021, and ending June 30 reached $5 billion, the first time that has happened during a fiscal year. It exceeds by more than $1 billion the $3.8 billion in revenue the casinos yielded in the 2020-21 fiscal year. The PGCB also reported that the combined tax revenue came in at just a little over $2 billion, another high-water mark.

In that 12-month span, the Hollywood Casino at the Meadows brought in more than $245 million in revenue through slot machines, table games and sports wagering.

The rise of internet gaming, which has given individuals more opportunities to gamble, and customers making in-person visits to casinos as COVID-19 restrictions were lifted, played significant roles in the revenue spike, according to Doug Harbach, communications director for the PGCB.

“More and more people are getting comfortable going out to these sites,” he explained.

Revenue also went up thanks to two new casinos that opened in the 2020-21 fiscal year: the Live! Casino Pittsburgh, located at the Westmoreland Mall in Hempfield Township; and Hollywood Casino Morgantown in Berks County.

In the fiscal year just ended, the Hollywood Casino at the Meadows brought in close to $162 million in revenue from slots, a 21% increase over the previous year. It also generated $31 million from table games, a 30% spike from 2020-21. The casino in North Strabane pulled in $52 million from sports wagering, second only to the Valley Forge Casino Resort in King of Prussia.

Video gaming terminals at truck stops brought in $41 million, a 32% increase from the year before. There are 65 in operation in the commonwealth. The only area to see a decrease in revenue was fantasy contests – they produced $27.3 million in revenue, a 3% decrease from the year before.

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