Thursday, February 22nd, 2018
now browsing by day
On March 23, 2007, it was stated that from January 1, 2007 to the middle of March, the slot machines placed in the 4 racing tracks in Pennsylvania have received a total of around $1.57 billion in total wagers and have paid out $17.5 million in total winnings and fund development for horse racing, according to the statistics in the possession of the Pennsylvania Gaming Control Board.
The year’s leader was the Philadelphia Park Casino and Racetrack, which opened last December, with a total of $632 million. A Harness establishment, the Harrah’s Chester Downs, was second at $449 million, even though it just opened in January.
The Mohegan Sun at the Pocono Downs, which is another horse racing harnessing track that opened in November, had a total of $352 million in slots revenues. The Presque Isle Downs, which opened on March 1, 2007, produced around $141.9 million in total profits after being open for just 3 weeks.
Under the Pennsylvania Race Horse Development and Gaming Act, about 12% of the adjusted gross profits from people who play slots at the racing tracks will go directly to purses and the breed development geared for Thoroughbred and Standardbred racing.
The racing tracks have their own profit target that they must attain. The profit target of Philly Park is around $6.6 million for the purses and breed development, the Chester Downs, whose actual meet will not begin until June 2007, a total of $5.1 million, the Pocono Downs, which will open on March 31, 2007, a total of $4.1 million and the Presque Isle Downs, which will debut their Thoroughbred racing on September 1, 2007, a total of $1.58 million.