Pennsylvania Casino Blackjack Games Generate Big Revenue
August 10th, 2011 by Site Admin
Celebrating the first anniversary of blackjack, craps, poker and other table games, Pennsylvania finished its financial year on 30th of June with $81.5 million procured by ten casinos in the state. The facts were given out as per the reports released by the board which controls the casino industry in the state.
On July 8th, 2010, table games like Blackjack were introduced in the casinos, beginning in the western part of the state and then shifting eastward. It started with Harrah’s in Chester, Parx in Bensalem and then the Sands Casino Resort in Bethlehem issued these games on 18th of July, 2010. On the 23rd of September, Sugar House in Philadelphia commenced with both slot machines and Blackjack games.
Fourteen percent of the gross revenue from table games like Blackjack are returned to the general fund as tax revenue according to the Pennsylvania State’s gaming Act. Hence as per the same rule, the amount was $71.3 million last financial year. Furthermore, the municipalities and counties that host casinos returned back two percent of gross table games revenue, which is $10.2 million.
For the month of June, table games produced $49.7 million in gross revenue at the 10 casinos now open, with about $8 million going back to the state and towns as tax revenue. Casino gambling, which began in Pennsylvania in the late 2006 had its effect on the Atlantic City, which used to generate revenue even during the summer. Andrew Zarnett, Analyst, Deutsche Bank mentioned, “Following the footsteps of the impact of slot machines, table games also negatively impacted Atlantic City – taking table-game players and putting them back in Pennsylvania.”
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