State Pockets 55 Cents Of Every Casino Slot Dollar

State Pockets 55 Cents Of Every Casino Slot Dollar

Inside the Valley Forge Casino Resort

KING OF PRUSSIA PA – For every dollar that gets pumped into a slot machine at the nearby Valley Forge Casino Resort – or anywhere else in Pennsylvania, for that matter – the state pockets 55 cents as tax revenue, The Pennsylvania Independent online news service reported Friday (June 1, 2012).

That rate makes the Commonwealth’s pot of gambling tax revenue the largest in the nation, and means Pennsylvanians see more return from gambling operations than any other state, including Nevada and New Jersey. The Independent’s story is based on a new study titled “State of the States,” issued by the American Gambling Association, a national trade group representing the commercial casino industry.

The Valley Forge operation, located off U.S. Route 422 just 18 miles east of Sanatoga in what once was the Valley Forge Convention Center, officially opened during April (2012). Its gross revenue for that month, the Pennsylvania Gaming Control Board said, was $4,032,516. Under the reports calculations, $2.21 million of that would have gone into state coffers. The money is used primarily for property tax relief.

“But in Pennsylvania, not all residents feel this growth equally,” The Independent reported. “Property tax relief from gambling revenue is determined by school district with a formula from the state Department of Education,” so “residents in different parts of the state will receive different amounts of relief,” it added.

This year, relief ranges from $25 to $632 per household, according to the Pennsylvania Coalition of Taxpayer Associations, a group representing other associations statewide. Its membership includes the Owen J. Roberts Taxpayers’ Association in Pottstown.