Racing report shows dollars wagered measure up 12 percent in 2012
The annual Racetrack Casino Benchmark Report from state gaming authorities shows tax revenue generated for the state Race Horse Development Fund was down about 1 percent in 2012, according to the Pennsylvania Gaming Control Board.
But the total dollars wagered on Pennsylvania races, referred to as the live racing handle, last year was 12 percent higher than 2011 and was the highest to date since the implementation of casino gaming in 2006, according to a news release.
The 2012 total live race handle was nearly $777 million, according to the report.
More than $272 million in slot machine tax revenue was raised for the fund in 2012 and about $224 million was earmarked for the horse racing industry, the release stated.
Part of slots money from casinos in Pennsylvania is earmarked to support the state's horse racing industry in keeping with the intent of the Pennsylvania Race Horse Development and Gaming Act, which enabled casino gambling in the state.