Casino News

Pennsylvania's slots generate $1 billion in three years

2007-10-19 16:39:42

The state of Pennsylvania has reaped over $1 billion in revenue from its slot machines, it has been reported.

The Associated Press cites the Pennsylvania Gaming Control Board as saying they have hit the mark.

Slots were first introduced in July 2004 in the state in order to help cut taxes and boost the economy.

The body's chairman Mary DiGiacomo Colins said at the time: "I think it's the most significant benchmark we've reached so far in terms of the major goals."

Spread across five casinos, there are 10,130 slot machines which the state taxes at a rate of 55 per cent.

Pennsylvania also makes money from licensing fees which are paid by 11 different groups.

Licensing fees alone generated $550 million.

At the end of 2006, USA Today announced that Philadelphia would be the US' "largest gambling city".