{"id":11409,"date":"2018-08-06T17:56:13","date_gmt":"2018-08-06T17:56:13","guid":{"rendered":"https:\/\/www.pokerscout.com\/?p=11409"},"modified":"2018-08-07T13:39:18","modified_gmt":"2018-08-07T13:39:18","slug":"the-fiscal-year-casino-revenue-numbers-were-good-but-july-not-so-much","status":"publish","type":"post","link":"https:\/\/www.pokerscout.com\/the-fiscal-year-casino-revenue-numbers-were-good-but-july-not-so-much\/","title":{"rendered":"The Fiscal Year Casino Revenue Numbers Were Good, But July? Not So Much"},"content":{"rendered":"<p>The <strong>Pennsylvania Gaming Control Board<\/strong> (PGCB) released its July slots <a href=\"https:\/\/gamingcontrolboard.pa.gov\/?pr=796\" target=\"_blank\" rel=\"noopener\">revenue<\/a> totals, noting that the state\u2019s 12 casinos saw a <strong>2.6 percent drop<\/strong> over the same time in 2017.<\/p>\n<p>The drop is by no means a drastic one, as PGCB Communications Director <strong>Doug Harbach<\/strong>\u00a0told PlayPennsylvania that increases and decreases of 2-3 percent are <strong>within the normal range of variation<\/strong>.<\/p>\n<p><strong>Parx<\/strong> was once again the top slots revenue earner, pulling in more than <strong>$34.7 million<\/strong>.<\/p>\n<p><strong>Valley Forge<\/strong> leads the way in revenue gains<\/p>\n<p>Often we see slots numbers go up year-on-year because at least one of the big three casinos \u2014 Parx, <strong>Sands<\/strong>, and <strong>Rivers<\/strong> \u2014 experience a spike in revenue.<\/p>\n<p>That wasn\u2019t the case this month, as two of the top three properties<strong> failed<\/strong> to increase revenue by more than 0.77 percent.<\/p>\n<p>Valley Forge posted the most positive numbers, logging <strong>4.91 percent growth<\/strong>. Here is a list of the other casinos who saw gains:<\/p>\n<ul>\n<li>Parx Casino: 0.77%<\/li>\n<li><strong>Presque Isle Downs and Casino<\/strong>: 0.39%<\/li>\n<li>Rivers Casino: 0.38%<\/li>\n<li><strong>SugarHouse Casino<\/strong>: 0.23%<\/li>\n<\/ul>\n<p>By contrast, the PGCB\u2019s<strong> June<\/strong> <a href=\"https:\/\/gamingcontrolboard.pa.gov\/?pr=791\" target=\"_blank\" rel=\"noopener\">report<\/a> revealed a <strong>4.9 percent overall increase<\/strong> in slots revenue. This was due, in large part, to the fact that the top-three revenue earners all reported gains, with Parx posting a formidable <strong>10.37 percent gain<\/strong>. Sands had a <strong>2.84 percent increase<\/strong> and Rivers saw their slots revenue jump <strong>7.13 percent<\/strong> over the previous year.<\/p>\n<p>The month was so profitable, in fact, that <strong>all but two casinos<\/strong> (Mohegan Sun, Lady Luck Nemacolin) reported losses over the previous year.<\/p>\n<p>The comparison of July and June show that as the state\u2019s top revenue earners go, so goes the overall slots totals.<\/p>\n<h2><span id=\"seven_casinos_reported_revenue_drops\">Seven casinos reported revenue drops<\/span><\/h2>\n<p>Whereas June was a fantastic month for the state, July was <strong>tough<\/strong>. Not only did the top casinos experience minimal growth, but seven casinos reported drops in revenue. Here are casinos and their reported losses:<\/p>\n<ul>\n<li><strong>Mount Airy Casino<\/strong>: -10.54%<\/li>\n<li>Mohegan Sun Pocono: -8.84%<\/li>\n<li><strong>Hollywood Casino at Penn National<\/strong>: -7.10%<\/li>\n<li>Lady Luck Casino Nemacolin: -6.15%<\/li>\n<li><strong>The Meadows Casino<\/strong>: -3.02%<\/li>\n<li>Sands Casino: -2.56%<\/li>\n<li><strong>Harrah\u2019s Philadelphia<\/strong>: -1.86%<\/li>\n<\/ul>\n<p>Along with the sluggish growth from Parx, Sands,\u00a0and Rivers, the fact that The Meadows, Hollywood Casino and Mohegan Sun experienced revenue dips ranging from 3.02 percent to 8.84 percent didn\u2019t help the overall numbers, either.<\/p>\n<p>Mohegan Sun and Lady Luck were the <strong>only<\/strong> two casinos to see<strong> year-on-year drops in both June and July<\/strong>.<\/p>\n<p>The PGCB noted that there were <strong>57 more slot machines<\/strong> operating in July 2018 than in July 2017.<\/p>\n<h2><span id=\"2017-2018_fiscal_year_a_win_for_casinos\">2017-2018 fiscal year a win for casinos<\/span><\/h2>\n<p>July marked the first month of the 2018-2019 fiscal year and, while the numbers certainly weren\u2019t what casinos were looking for, they did have the consolation of knowing that the 2018-2017 fiscal year was a <strong>success<\/strong>.<\/p>\n<p>According to numbers from the PGCB, PA casinos reported <strong>$16 million more<\/strong> in gross revenue in 2018 than they did in 2017: <strong>$2.35 billion to $2.33 billion<\/strong>.<\/p>\n<p>Overall revenue from table games and slots increased 0.69 percent from fiscal year 2016-2017 to 2017-2018.<\/p>\n<p>The post The Fiscal Year Casino Revenue Numbers Were Good, But July? Not So Much appeared first on Play Pennsylvania.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Pennsylvania Gaming Control Board (PGCB) released its July slots revenue totals, noting that the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"link","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","vebbtech_seo_disable_yoast":false,"vebbtech_seo_hide_author":false,"vebbtech_seo_hide_date":false,"vebbtech_seo_hide_factchecker":false,"vebbtech_seo_fact_check_enabled":false,"vebbtech_seo_post_reviewer":0,"vebbtech_seo_post_review_date":"","footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-11409","1":"post","2":"type-post","3":"status-publish","4":"format-link","6":"category-news-category","7":"post_format-post-format-link"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Fiscal Year Casino Revenue Numbers Were Good, But July? 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