Pennsylvania Gambling Regulator Reports Record Tax Revenue
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The Pennsylvania Gaming Control Board reported that tax revenue generated during the combined Fiscal Year 2022/2023 reached a record level of $2,369,249,258.
“This tax figure is the result of a record combined revenue generation of over $5.5 billion from casino slot machines and table games, iGaming, sports wagering, video gaming terminals (VGTs) and fantasy sports contests,” the regulator said.
The previous high for gaming revenue and tax revenue in a fiscal year was during 2021/2022, with $5.04 billion and $2.16 billion, respectively. The estimated amounts for revenue and taxes being reported are before any possible adjustments by the PA Department of Revenue.
The revenue from slot machines at the casinos was $2,452,239,440, a 1.74% increase in revenue compared to the $2,410,313,212 generated in Fiscal Year 2021/22. It represents the second-highest fiscal year slot machine revenue figure trailing only revenue generated in 2011/12.
Tax revenue from playing slot machines, including mandated fees paid by some operators, amounted to $1,356,438,542.
Gross revenue from table games at the casinos was $974,018,112, a 4.11% decrease in revenue compared to the $1,015,735,661 generated in Fiscal Year 2021/22. Tax revenue from the play of table games was $158,150,744.
Winnings from online casinos were $1,532,761,065, a 24.38% increase in revenue compared to the $1,232,309,138 generated in Fiscal Year 2021/22. This revenue amount is a high mark for online casino for a fiscal year. Taxes collected from iGaming were $652,554,334.
Sports wagering revenue was $491,960,612, a 55.82% increase compared to the $315,716,247 generated in Fiscal Year 2021/22. This revenue amount is a record for a fiscal year. Taxes from sports wagering in Fiscal Year 2022/23 were $177,105,820.
Video gaming terminals at truck stops generated $42,114,593, a 1.28% increase compared to the $41,584,158 in Fiscal Year 2021/22. This revenue amount is a high mark for a fiscal year. At the end of this fiscal year, 69 VGT facilities were operating in Pennsylvania compared to 65 facilities in operation at the end of Fiscal Year 2021/2022. Tax revenue from VGTs in Fiscal Year 2022/23 was $21,899,588.
And finally, fantasy contests were $20,668,195, a 24.32% decrease in revenue compared to the $27,308,782 generated in Fiscal Year 2021/22. Tax revenue from fantasy games in Fiscal Year 2022/23 was $3,100,229.
