PR Newswire (paid press release):
HARRISBURG, Pa., April 4, 2017 /PRNewswire-USNewswire/ — The Pennsylvania Gaming Control Board today released its 10th Annual Racetrack Casino Benchmark Report detailing the impact of Pennsylvania casinos on the Commonwealth’s horse racing industry.
The report, available for download on the PGCB’s web site www.gamingcontrolboard.pa.gov, covers calendar year 2016, a year in which $245 million of slot machine-generated tax revenue was generated to support the Pennsylvania Race Horse Development Fund. This revenue was used to enhance race purses, assist in breeding operations located in Pennsylvania, provide health and pension benefits for horsemen, and support agricultural initiatives.
The report, along with the accompanying detailed statistical summary, provides 2016 and 5-year historical information on:
- Slot machine revenue on race and non-race days;
- Attendance at Pennsylvania’s racetracks;
- Backstretch improvements;
- A breakdown of PA Race Horse Development Fund distributions;
- Figures for breeding of both thoroughbred and standardbred horses;
- Number of live races held in Pennsylvania and number of horses competing;
- Purses awarded; and
- The taxable handle and live racing handle.
Six horse racing tracks operate in conjunction with six casinos in Pennsylvania:
- Parx Casino in Bucks County
- Presque Isle Downs & Casino in Erie County
- Hollywood Casino at Penn National Race Course in Dauphin County
- The Downs at Mohegan Sun Pocono in Luzerne County
- The Meadows Racetrack and Casino in Washington County
- Harrah’s Philadelphia Racetrack and Casino in Delaware County
About the Pennsylvania Race Horse Development Fund
The Pennsylvania Race Horse Development and Gaming Act (“Act”) states that the authorization of limited gaming is intended to positively assist the Commonwealth’s horse racing industry, support programs intended to foster and promote horse breeding, and improve the living and working conditions of personnel who work and reside in and around the stable and backside areas of racetracks. The avenue utilized through the Act to assist the horse racing industry was the creation of the Pennsylvania Race Horse Development Fund which is funded by a portion (approximately 11%) of gross revenue generated from slot machine gaming from the 12 casinos.
About the Pennsylvania Gaming Control Board
The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state’s casino industry. There are 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos. These facilities collectively employ 18,000 people and annually generate approximately $1.4 billion in tax revenue from slot machine and table games play. The largest portion of that money is used for property tax reduction to all Pennsylvania homeowners.
Additional information about both the PGCB’s regulatory efforts and Pennsylvania’s casino gaming industry can be found at www.gamingcontrolboard.pa.gov. You can also follow the agency on Twitter by choosing @PAGamingControl.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/10th-annual-report-on-pa-casino-gamings-impact-on-pas-horse-racing-industry-now-available-300434451.html
SOURCE Pennsylvania Gaming Control Board
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