Pennsylvania Skill congratulates PA Gaming Control Board and casinos on record annual revenue of over $5.89 billion
HARRISBURG, PA, July 29, 2024 (GLOBE NEWSWIRE) -- Pace-O-Matic (POM), creator of Pennsylvania Skill games, applauds the Pennsylvania Gaming Control Board (PGCB) and state casinos which saw a record $5.89 billion in revenue for Fiscal Year 2023-24.
The numbers surpassed the previous high of $5.5 billion from the 2022-23 Fiscal Year.
The revenue increases come from slot machines, table games, internet gaming, sports wagering, fantasy contests and video gaming terminals (VGTs).
As the PGCB and casinos celebrate yet another enormous financial win, small businesses, veterans groups, volunteer fire companies and other fraternal clubs across the state also laud the income they receive from operating legal skill games. Many would need to make difficult decisions without the supplemental revenue they received from skill games.
“The record revenue for casinos and other gambling enterprises under the jurisdiction of the PGCB is important to the commonwealth,” said Mike Barley, chief public affairs officer for Pace-O-Matic. “Just as skill games are important to many family businesses and organizations in the state. The annual gaming numbers prove that ample room exists for casinos as well as small businesses and fraternal organizations operating skill games to succeed in Pennsylvania. There is no competition between the two.”
Barley questioned why casinos, especially Parx Casino, whose Parx Shippensburg saw the highest growth, are fighting skill games and legislation to tax the games.
POM supports bills sponsored by Sen. Gene Yaw and Rep. Danilo Burgos that will regulate and tax skill games. There is bipartisan backing for the legislation that will put guardrails around skill game operations and provide $250 million in new tax revenue for the state in the first year. The revenue could be used to address important needs such as transportation infrastructure and transit funding. Gov. Josh Shapiro supports taxing and regulating the games.
However, that revenue is generated only through a reasonable tax on skill games. Barley questions why the giant casino industry wants to destroy family businesses and organizations by demanding lawmakers enact a crushing tax rate on skill games. Legislation to regulate skill games calls for a 16% tax on skill games while casinos say the tax should be 52%.
“Sadly, no amount of revenue is enough to satisfy the greedy casino industry,” Barley said. “Instead, they want to kill businesses, American Legions, volunteer fire companies, Moose Lodges and other places that count on skill games. These locations could never afford the same tax rate that wealthy casinos pay. Casinos know that and don’t care.”
Several courts have ruled Pennsylvania Skill games are legal, including a unanimous Commonwealth Court in November. In addition to providing supplemental income to small businesses, the games are manufactured in Williamsport and 92% of the income they generate stays within the local economy or the state.
Jeanette Krebs Pennsylvania Skill 717-418-6106 jk@krebs.solutions
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