Pennsylvania’s gambling industry continues to boom, with casinos across the state raking in a new record for gambling revenue. In 2018 alone, Pennsylvania casinos generated more than $2.1 billion in winnings and gaming revenue.
While this success is certainly attributable to the state’s numerous casino resorts, it’s also thanks to the increasing popularity of slot machines and table games. With more people looking to gamble than ever before, Pennsylvania casinos are doing their part to keep customers happy and spending money.
Pennsylvania Casinos Receive Record Gambling Revenue
Pennsylvania casinos have once again broken records for gambling revenue, according to the Pennsylvania Gaming Control Board. The state’s nine casinos generated a total of $4.4 billion in gambling revenue in 2017, surpassing the previous record of $4.1 billion set in 2016. The casino industry has been thriving in Pennsylvania thanks to relaxed regulations and a strong economy.
The success of the Pennsylvania casino industry is likely due to its proximity to major markets such as New York and Philadelphia. Additionally, the state has one of the most diverse economies in the country, which is likely attracting many new customers to the casinos. Despite this success, there are still concerns that legalized gambling may be leading to addiction and other problems.
What Led to the Increased Revenue for Pennsylvania Casinos?
Pennsylvania casinos reached a new record for gambling revenue in 2018, according to the Pennsylvania Gaming Control Board. The increase can be partially attributed to the legalization of online gambling in Pennsylvania in 2017. The state also saw an increase in slot machine winnings and table games revenue.
Future Trends for Pennsylvania Casinos
According to the Pennsylvania Gaming Control Board, the state’s casinos reached a new record for gambling revenue in 2018. The board projects that the casinos will generate an additional $1.2 billion in revenue next year. This is a 7% increase from 2017 and a 14% increase from 2016. The growing popularity of casino gaming is likely responsible for the uptick in revenue.
The casinos are also benefiting from increased spending by tourists. In 2018, tourists spent an estimated $11.5 billion in Pennsylvania, which is up 5% from 2017. This tourism spending is benefitting not just the casinos, but also hotels, restaurants, and other businesses throughout the state.
As long as Pennsylvania’s casinos continue to generate high levels of revenue, they will be able to continue expanding their operations and attracting new customers.
Conclusion
It was a good year for Pennsylvania casinos. Gambling revenue in the state rose to a new record, and slots players were especially successful. This is thanks in part to the legalization of online gambling in Pennsylvania last year. According to The New York Times, casino revenue in the state increased by more than 14 percent from 2016 to 2017, reaching $11.6 billion. Slots players were especially profitable, accounting for nearly two-thirds of all gambling revenue during that time period.
