Summary
- Only 14 casinos were in operation in 2020 and $2.65bn was earned.
- Lesser coronavirus restrictions led to more travel to local casinos in 2021.
- Over $1.9bn in tax revenue was generated from the year.
Last year was a good one for casinos in Pennsylvania. After struggling immensely during the COVID-19 pandemic, the state has rebounded, earning $4.73 billion from its 16 venues. This was a large jump from the $2.65 billion earned in 2020, when only 14 facilities were in business.
In 2020, the Gaming Control Board closed casinos twice and safety measures were in place for the operational days. Players who did not want to wear masks or follow procedures did not visit the facilities and those who were willing to do so, might not travel due to fear of contracting the virus.
It is genuinely unfair to compare the two years due to the major issues that 2020 presented. However, the big earnings in 2021 are a milestone. When compared to 2019, pre-pandemic, the state still earned $1.9 billion more. Yet another record was set from the $1.93 billion in tax revenues the property generated.
The funds earned go towards the Washington County Local Share Account. This fund helps the local community and economic development from revenues earned via the Hollywood Casino at the Meadows.
Continued Improvement in Each Gaming Sector
The state offers six options for gambling in the state: slots, table games, online gaming, fantasy sports, sports betting, and video gaming terminals. The first four are relatively new to the state having started in 2018 and 2019. These areas contributed heavily to the increase in earnings.
When comparing 2021 totals to 2020, each option saw an increase in earnings. Slots were up over 68% while table games jumped even higher at over 83%. Sports betting was up just under 80% while fantasy sports were up 38.54%. Online gaming leaped over 96% and video gaming terminals were up a whopping 139%.
The Meadows saw a huge improvement in earnings, generating just over $251 million in 2021. This was a nice increase from 2019’s $237.9 million. Slots were the big earner, coming in at over $153 million. Rivers Casino in Pittsburg also saw an increase, generating $355.5 million. This was a big jump from 2020, but lower than the $392 million earned in 2019.
For now, the casinos in Pennsylvania are flourishing. The hope is that 2022 will see the COVID-19 virus dissipate so that players will continue to visit the state’s gambling venues and revenues will continue to roll in at high numbers. Only time will tell if the industry will continue to thrive or if we will start to see a drop in overall earnings.
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