Pennsylvania Tops U.S. in Casino Tax Revenue

When it comes to casino tax revenue, Pennsylvania stands out as the clear leader, suring even iconic gambling hubs like Las Vegas and Atlantic City. In 2023, the state collected $2.3 billion in casino taxes, outperforming New York, which generated slightly over $2 billion, and Nevada, which lagged significantly behind at $1.2 billion.

Slot Machine Taxes Drive Pennsylvania’s Success

Doug Harbach, Communications Director for the Pennsylvania Gaming Control Board, attributes the state’s dominance to its high tax rates on slot machines. “Slots is taxed here at about 52% for the casinos,” Harbach explained. “When you move to some other states like Vegas, they are somewhere around 6 or 8%.” This stark contrast in taxation ensures Pennsylvania’s substantial revenue share from its gaming industry.

Beyond traditional casino games, residents of Pennsylvania are increasingly participating in sports betting. “Pennsylvania does really, really well for sportsbooks,” said Raphael Esparza, a handicapper with Doc’s Sports Service. “I worked at MGM Mirage, New York, New York,” he added, highlighting the state’s growing appeal in this sector.

The accessibility of online gambling has transformed the industry, enabling players to place bets without visiting a casino. “You can just do it on your couch,” noted Josh Ercole of the Pennsylvania Council on Compulsive Gambling.

Rising Concerns Over Gambling Addiction

The increasing ease of gambling has led to a surge in calls to Pennsylvania’s gambling helpline, 1-800-GAMBLER. Ercole reported a notable decrease in the average age of callers, indicating that younger individuals are engaging more frequently in gambling activities. “Last year it was $7.68 billion,” Ercole stated, referring to the total amount wagered on sports in Pennsylvania alone.

While sports betting garners significant attention, internet-based casino games such as slots and blackjack are the fastest-growing segment of Pennsylvania’s gambling market. “That’s the fastest-growing segment,” said Harbach. “Most recently were national records for iGaming for revenue.” This growth underscores the evolving preferences of gamblers who increasingly favor the convenience of digital platforms.

As Pennsylvania’s gambling industry thrives, experts advise caution to those participating. “Just because there’s a Monday Night Football game on TV, that does not mean you have to bet it,” Esparza cautioned. Harbach added a timeless reminder: “The house always wins.”

Source:

„Pennsylvania ranks first in casino taxes collected in US; professionals advise to gamble responsibly“, abc27.com, December 9, 2024.