Pennsylvania Casino Industry Grows Despite the Pandemic

Pennsylvania Casino Industry Grows Despite the Pandemic

With the shutdown of casinos between March and December 2020, the Pennsylvania online casino industry is reporting a rise in local and state tax revenues from industry.

Taxes go up

The state and local tax revenue went up to over $33 million for the period between July and November 2020. Now, the state Gaming Control Board is expecting the taxes to rise by 25% for 2020. The impact of the lockdown will be seen in the coming few days when the Board released figures for the last quarter of 2020.

Pennsylvania Casino Industry Grows Despite the Pandemic

The Pennsylvania gaming industry is growing by leaps and bounds, helping in the economic growth of the local communities and state. The coronavirus pandemic led to the expansion of the casino industry in 2020. The doors of Pennsylvania casinos closed in March 2020 after the spread of the coronavirus. The shutdown led to a 51% drop in both gaming and fantasy sports revenue which totaled $153.5 million in March.

Gaining momentum at the end of the year

Entertainment venues were allowed to reopen towards the end of the third quarter, after which they quickly gained momentum. The local and state tax revenue grew in November until Governor Tom Wolf issued another order for a shutdown. The orders came after the number of coronavirus cases started rising in the state again.

Doug Harback, spokesman for the Gaming Control Board commented on the situation and said,

“Even with the decrease in revenue from casinos due to covid-19 closures, it is likely that (the 2020) calendar year will see an approximate 25% increase in the total local share tax revenue from all forms of legalized gambling.”

Even as the situation remains unstable, the industry is reporting stronger numbers in the fiscal year. The new Live! Casino Pittsburgh opened in Westmoreland County which added to the growth of the sector. It is likely that the figures at the end of 2020 will be good.

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.