Pennsylvania Gaming Control Board Reports December & 2018 Fantasy Contests Revenue
The Pennsylvania Gaming Control Board posted on its web site the December Fantasy Contests Revenue Report. The report provides a breakdown on fees collected from the play of Pennsylvania participants, Fantasy Contests Operators’ adjusted revenue, and tax revenue due to the Commonwealth. The report can be found at www.gamingcontrolboard.pa.gov.
Fantasy Contests adjusted revenue for December was $2,860,503 compared to adjusted revenue of $3,241,161 in November.
Tax revenue is derived through a 15% assessment on the adjusted revenue reported by the Fantasy Contests Operators and is deposited into the Commonwealth General Fund. This resulted in tax revenue generated during December of $429,075.51. Nine of the Fantasy Contests Operators reported tax revenue due.
Fantasy Contests revenue and tax revenue for each of the providers for December 2018 and for the calendar year 2018 is displayed in the following tables:
About the Pennsylvania Gaming Control Board:
The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state’s casino industry, including sports wagering offered currently by four casino operators. The oversight also includes other new gaming initiatives, expected to be launched in the coming months, which were created through Act 42 of 2017, an amendment to the Race Horse Development and Gaming Act.
The Commonwealth’s casino industry currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos. These facilities collectively employ 17,000 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 Pennsylvania homeowners.
Additional information about both the PGCB’s gaming regulatory efforts and Pennsylvania’s gaming industry can be found at gamingcontrolboard.pa.gov. You can also follow the agency on Twitter by choosing @PAGamingControl.
Source: Pennsylvania Gaming Control Board