The Pennsylvania Gaming Control Board has published its September Fantasy Sports Contests Revenue Report, showing DraftKings atop a nine-strong list of operators by adjusted revenue with $1.174m. The second highest earner was FanDuel with nearly $949,000, followed by DRAFT, a distant third with $19,659.
The report provides a breakdown on fees collected from the play of Pennsylvania participants, Fantasy Sports Contests Operators’ adjusted revenue, and tax revenue due to the Commonwealth.
It is the first since the start of the NFL season which impacted the revenue growth substantially. In the previous month of August, adjusted revenue was $943,620 compared to adjusted revenue of $2,133,714 in September.
Tax revenue is derived through a 15% assessment on the adjusted revenue reported by the Fantasy Sports Contest Operators and is deposited into the Commonwealth General Fund. This resulted in tax revenue generated during September of $320,057. Seven of the Fantasy Sports Contest Operators reported tax revenue due.
The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state’s casino industry, along with oversight of new gaming initiatives created through amendments to the Race Horse Development and Gaming Act recently approved by the signing of Act 42 of 2017.
The Commonwealth’s casino industry currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos. These facilities collectively employ 17,000 people and annually generate approximately $1.4bn in tax revenue from slot machine and table game play. The largest portion of that money is used for property tax reduction to all Pennsylvania homeowners.
Fantasy Sports revenue and tax revenue for each of the providers for September 2018 is displayed in the following table:
|Fantasy Sports Contest Provider||Fantasy Sports Contest Adjusted Revenue||State Tax Due|
|Full Time Fantasy Sports||$241.50||$36.23|
|Fantasy Football Players Championship||$0.00||$0.00|
|Yahoo Fantasy Sports||($12,049.35)||($1,807.40)|