Revenue from Pennsylvania casinos dropped by nearly $800 million last year compared to 2019 as the COVID-19 pandemic ravaged the industry with forced closures and reduced capacities.
And at least one industry expert said the casino business will not soon return to pre-coronavirus levels and those that think otherwise are “crazy.”
The Pennsylvania Gaming Control Board reported last month that the state’s 13 casinos generated $2.6 billion in 2020, down about 22% from 2019 when it totaled $3.4 billion, after they were closed a third of their usual operating days due to the pandemic.
The figures include combined revenue from slots, table games, sports betting, internet gaming and video gaming terminals.
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What goes around comes around in the Pennsylvania Legislature.
Former state Rep. Frank Dermody, who used to appoint members to the Pennsylvania Gaming Control Board, on Thursday received an appointment of his own and the $145,000 annual salary it brings.
Dermody, 69, the longtime House minority leader, in November lost his campaign for election to a 16th term to Republican Carrie Lewis DelRosso.
That 923-vote loss, however, served to fatten Dermody’s paycheck.
His new post on the Gaming Control Board pays about $15,000 a year more than he collected in the Legislature. At the same time, the Oakmont Democrat could be eligible to begin drawing a lifetime pension of about $110,000 a year, based on 30 years of service in Harrisburg.
OPINION: Odds are good for gambling in pandemic
Is anyone surprised?
The Pennsylvania Gaming Control Board recently issued a report that detailed that fact, outlining how one of the state’s newest and fastest growing industries faced the same kind of problems many others did during the coronavirus pandemic.
Total revenues fell $759 million, but if you look at the top two categories the ones everyone tends to think of when they think about casinos it should have been so much more.
Slot machines were the first casino gambling allowed in Pennsylvania starting in 2006. Their revenue has grown steadily since. Until last year. In 2019, the one-armed bandits pulled in $2.3 billion.
State casinos suffer significant revenue losses due to pandemic Share Updated: 7:08 PM EST Jan 23, 2021 By Alexis Paige Share Updated: 7:08 PM EST Jan 23, 2021
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Show Transcript HERE IN PENNSYLVANIA CASINOS ARE TAKING A HIT FROM THE PANDEMIC. THE STATE GAMING CONTROL BOARD SAYS REVENUES STATEWIDE ARE DO BY $759 MILLION DOLLARS. THE BOARD JUST RELEASED NUMBERS FROM ALL 13 PENNSYLVANIA CASINO SLOTS REVENUE DROPPED FROM 2-POINT-3 BILLION IN 2019 TO 1-POINT-3 BILLION LAST YEAR. AND TABLE GAMES WERE ALSO DOWN FROM 903-MILLION IN 2019 TO $504 MILLION IN 2020. ALL OF THE STATE’S CASINOS WERE FORCED TO CLOSE FOR MONTHS L
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