{"id":4135,"date":"2018-04-05T19:32:58","date_gmt":"2018-04-05T19:32:58","guid":{"rendered":"https:\/\/www.pokerscout.com\/?p=4135"},"modified":"2018-04-06T16:07:06","modified_gmt":"2018-04-06T16:07:06","slug":"with-gambling-expansion-things-are-looking-up-for-pa-racetracks","status":"publish","type":"post","link":"https:\/\/www.pokerscout.com\/with-gambling-expansion-things-are-looking-up-for-pa-racetracks\/","title":{"rendered":"With Gambling Expansion, Things Are Looking Up For PA Racetracks"},"content":{"rendered":"<p><strong>Slot machines<\/strong> at the state\u2019s 12 operating <strong>casinos<\/strong> generated a whopping <strong>$239 million<\/strong> in tax money for the local <strong>horse racing industry<\/strong> last year, according to a newly released <a href=\"https:\/\/gamingcontrolboard.pa.gov\/?pr=771\"><strong>Pennsylvania Gaming Control Board<\/strong> report<\/a>.<\/p>\n<p>The board released its <strong>Annual Racetrack Casino Benchmark Report<\/strong> this week. The report generally details the impact of Pennsylvania casinos on the Commonwealth\u2019s horse racing industry.<\/p>\n<h2><span id=\"the_pennsylvania_race_horse_development_trust_fund\">The Pennsylvania Race Horse Development Trust Fund<\/span><\/h2>\n<p>The<strong> Pennsylvania Race Horse Development Trust Fund<\/strong> was created to provide financial resources to the horse racing industry. It uses the tax money generated by casinos.<\/p>\n<p>In fact, <strong>10 percent<\/strong> of the revenue generated by slot machine play at all PA casinos is earmarked for the fund. In 2017, that amounted to $239 million. Although that represented <strong>a decrease of 2.5 percent<\/strong> compared to 2016.<\/p>\n<p>The $239 million in tax revenue generated for the fund in 2017 was earmarked for things like:<\/p>\n<ul>\n<li>Enhancements of <strong>race purses<\/strong><\/li>\n<li>Assisting <strong>breeding<\/strong> operations located in the state<\/li>\n<li>Providing <strong>health and pension benefits<\/strong> for horsemen<\/li>\n<li>To support local <strong>agricultural initiatives<\/strong><\/li>\n<\/ul>\n<p>The authorization of slots at racetracks in PA was initially approved by lawmakers in an effort to bolster the struggling horse racing industry. The effort appears to be working. Not only are tax revenues being regularly funneled into avenues supporting the industry, but the industry has now seen <strong>growth and improvements<\/strong> as a result.<\/p>\n<h2><span id=\"live_racing_handle_on_the_rise\">Live racing handle on the rise<\/span><\/h2>\n<p>According to the report, total dollars wagered on live races held at the six racetracks operating in Pennsylvania went <strong>up three percent<\/strong> in 2017. In fact, it exceeded <strong>$700 million<\/strong>.<\/p>\n<p>This represented the first <strong>year-over-year increase<\/strong> in live racing handle in Pennsylvania since 2013.<\/p>\n<p>However, authors of the <strong>Annual Racetrack Casino Benchmark Report<\/strong> say the uptick can be directly attributed an increase in wagers on Pennsylvania races by <strong>patrons outside of the Commonwealth<\/strong>. Total dollars wagered on Pennsylvania races at the six racetracks, nine off-track wagering facilities, and through electronic wagering offered by licensed racetracks, all <strong>declined<\/strong> last year.<\/p>\n<p>But even more growth may be on the way.<\/p>\n<p>As a part of the comprehensive state-wide <strong>gambling expansion<\/strong> approved by lawmakers in October 2017, casinos in Pennsylvania without racetracks now have the option to offer <strong>pari-mutuel wagering<\/strong> on live horse racing.<\/p>\n<p>Plus, a portion of the Pennsylvania Race Horse Development Trust Fund has now been earmarked for <strong>marketing<\/strong> horse racing. It is being used under the direction of the <strong>State Horse Racing Commission<\/strong>.<\/p>\n<p>More on exactly where Pennsylvania Race Horse Development Trust Fund money goes, revenue generated by horse racing facilities in the state, and improvements being made at these facilities can be found in the full\u00a0<strong>Racetrack Casino Benchmark Report <\/strong>on the Pennsylvania Gaming Control Board website.<\/p>\n<h2><span id=\"horse_racing_and_casinos_in_pa\">Horse racing and casinos in PA<\/span><\/h2>\n<p>The six horse racing tracks in Pennsylvania with casino operations that feature both slots and table games include:<\/p>\n<ul>\n<li><strong>Harrah\u2019s Philadelphia Racetrack and Casino <\/strong>in Delaware County (Harness)<\/li>\n<li><strong>Hollywood Casino at Penn National Race Course <\/strong>in Dauphin County (Thoroughbred)<\/li>\n<li><strong>Parx Casino <\/strong>in Bucks County (Thoroughbred)<\/li>\n<li><strong>Presque Isle Downs &amp; Casino<\/strong> in Erie County (Thoroughbred)<\/li>\n<li>The Downs at<strong> Mohegan Sun Pocono <\/strong>in Luzerne County (Harness)<\/li>\n<li><strong>The Meadows Racetrack and Casino<\/strong> in Washington County (Harness)<\/li>\n<\/ul>\n<p>Parx Casino also happens to be the top-grossing casino and gaming operation in the entire state.<\/p>\n<p>The post With Gambling Expansion, Things Are Looking Up For PA Racetracks appeared first on Play Pennsylvania.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Slot machines at the state\u2019s 12 operating casinos generated a whopping $239 million in tax [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","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":[374,6],"tags":[],"class_list":{"0":"post-4135","1":"post","2":"type-post","3":"status-publish","4":"format-link","6":"category-industry","7":"category-news-category","8":"post_format-post-format-link"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>With Gambling Expansion, Things Are Looking Up For PA Racetracks -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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