Lady Luck pulls in $28 million during first year
The numbers are in for Wharton Township’s Lady Luck Casino Nemacolin’s first year in operation.
During the 2013-14 fiscal year, Lady Luck, at Nemacolin Woodlands Resort, generated $28.1 million in revenue and paid $9.6 million in taxes to state and local government.
In early July, Nemacolin representatives credited the popularity of the casino for a recent increase in business at the resort, despite casino patronage growing slowly through its first year.
Lady Luck’s slot machines produced $23.3 million in revenue during the year. The machines took in $310.5 million in wagers and paid out $281.8 million in winnings. The casino gave out $5.31 million in free promotional play.
During the fiscal year, Lady Luck paid $7.94 million, or 34 percent of its slot machine revenue, in state taxes; $933,722, or 4 percent, in its local share assessment to the county and township; $1.17 million, or 5 percent, to the economic development trust fund; and $2.45 million, or 12 percent, to the Pennsylvania race horse development fund.
The casino’s highest grossing month for slot machines came in July 2013, its first month in operation, when it created revenue totaling $2.36 million. Revenues dipped to their lowest point ($1.52 million) in January.
Lady Luck’s year-end slot machine revenue was the least among the state’s 12 casinos. The average gross revenue for all state casinos during the year was $193.3 million.
From table games, the casino made $4.83 million in revenue during the fiscal year. It paid $675,734, or 14 percent of its revenue, in state taxes and $96,534, or 2 percent, to the county and township.
The casino’s highest grosses for table games occurred in March, with $496,884 in revenue. The casino made the least amount on table games during its opening month, grossing $241,745.
Like its slot machine revenue, the casino’s year-end table games revenue was the lowest in the state, significantly below the state average of $61 million.
Lady Luck’s designation as a resort casino limits its number of slot machines to 600 and table games to 50, while standalone casinos and casinos at horse racing facilities often operate upwards of 3,000 slot machines and 100 table games.
Statewide slot machine revenue was down 4.5 percent from the previous year, and only one casino, Valley Forge Casino Resort in King of Prussia, showed growth over its revenue from 2012-13 — a 22.6 percent increase over its first full year in operation after opening in March 2012.
Statewide revenues for both slot machines and table games peaked for the year during March.
Lady Luck’s 579 slot machines generated $2.15 million in revenue during June, decreasing 6.7 percent from May. Its 28 table games earned the casino $478,742, a 35.6 percent increase over the previous month.
Lady Luck and Valley Forge Casino Resort are the only resort, or Category 3, casinos in the state.