Pennsylvania Gaming Control Board Reports February Fantasy Contests Revenue
HARRISBURG, Pa., March 15, 2019 /PRNewswire/ -- The Pennsylvania Gaming Control Board today posted on its web site the February Fantasy Contests Revenue Report. The report provides a breakdown on fees collected from the play of Pennsylvania participants, Fantasy Contests Operators' adjusted revenue, and tax revenue due to the Commonwealth. The report can be found at http://gamingcontrolboard.pa.gov.
Fantasy Contests adjusted revenue for February was $1,629,178 compared to adjusted revenue of $2,116,499 in January 2019.
Tax revenue is derived through a 15% assessment on the adjusted revenue reported by the Fantasy Contests Operators and is deposited into the Commonwealth General Fund. This resulted in tax revenue generated during February of $244,377.
Fantasy Contests revenue and tax revenue for each of the providers for February 2019 are provided in the following table:
Fantasy Contest Provider
State Tax Due
Fantasy Football Players Championship
Yahoo Fantasy Sports
Full Time Fantasy Sports
About the Pennsylvania Gaming Control Board:
The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state's casino industry, including sports wagering offered currently at six locations. The oversight also includes other new gaming initiatives, expected to be launched in the coming months, which were created through Act 42 of 2017, an amendment to the Race Horse Development and Gaming Act.
The Commonwealth's casino industry currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos. These facilities collectively employ over 16,000 people and annually generate approximately $1.4 billion in tax revenue from slot machine and table games play. The largest portion of that money is used for property tax reduction to Pennsylvania homeowners.
Additional information about both the PGCB's gaming regulatory efforts and Pennsylvania's gaming industry can be found at gamingcontrolboard.pa.gov. You can also follow the agency on Twitter by choosing @PAGamingControl.
Doug Harbach or Richard McGarvey
View original content:http://www.prnewswire.com/news-releases/pennsylvania-gaming-control-board-reports-february-fantasy-contests-revenue-300813286.html
SOURCE Pennsylvania Gaming Control Board
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