Pennsylvania Gaming Control Board Reports $3.38 Million in Tax Revenue from First Full Year of Regulated Fantasy Contests
The Pennsylvania Gaming Control Board has posted the monthly Fantasy Contests Revenue Report. The published report includes totals for the first 12 months of the Commonwealth’s collection of taxes for all Fantasy Contests. The report showed that for the first full year a total of $22,542,688 was generated from revenues and $3,381,403 in tax revenues.
The report provides a detailed breakdown of all fees collected from players, operators and what the Commonwealth collected from each venue for its tax revenues. Fantasy Contest operators were required last year to be licensed by the board in order to offer Fantasy Contests and to pay a tax rate of 15% on all adjusted revenues.
DraftKings earned the most revenue and tax for the state for the month of April 2019 with $845,553.33 in earnings and $126,833.00 in taxes. FanDuel came in second with $961,867.32 in revenue generations and $144,280.10 for tax rates.
DraftKings is clearly the number one DFS operator in the state. For the 12-month period they came out on top as well earning $11,549,460 in revenues with the state receiving $1,732,419 in tax earnings. FanDuel was second, once again, not a big surprise with these two being the top two across the USA. FanDuel earned $10,274,886 for the first full year.