Report: PA Casino Haul Could Top $2B in '09

HARRISBURG, PA-Gross terminal revenues from licensed casinos are expected to reach an annualized level of $2.28 billion by July 2009, after four new facilities come on line, says a report from the Pennsylvania Gaming Control Board. Speaking at PGCB’s meeting here on Thursday, Kevin Hayes, the board’s director of operations, said that current slots casino projects, scheduled to be operational by July ’09, could add $650 million per year in revenues and create 3,750 permanent jobs along with 4,700 construction-related jobs.

The new casinos include two stand-alone facilities, Sands Bethworks in Bethlehem and Majestic Star Casino in Pittsburgh; and upgrades from temporary to permanent facilities at two racetracks, the Meadows Racetrack and Casino in Washington and Mohegan Sun at Pocono Downs. A board spokesman tells GlobeSt.com, the numbers are based on figures the applicants submitted in applying for their licenses.

In total, the 11 licensed casinos slated to be open as of July ’09 are scheduled to have a combined 24,123 slot machines, according to a release. Based on gross terminal revenues of $2.28 billion, the commonwealth would collect $1.23 billion in taxes annually, the largest portion of that going toward property tax relief, according to the release. Commonwealth law allows the operation of up to 62,000 slot machines in Pennsylvania, the spokesman says, adding, “currently we have 15,000 slot machines, so we’re nowhere near that number.”