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Few seem to be complaining about the slot machines now
that the week end figures are in. As if the first day figures were not
promising enough, after seven days the slot machines are running just as
well as was hoped. Now that the slot machines are up and running, no one
seems to be able to stop playing the slot machines—and for the state and the
casino operators, that’s a great thing.
So far patrons have played $39.3 million at the slot machines, and when you
figure in the payout percentage, that means that they have won back a large
percentage of that money as well. The slot machines will payout $0.90 on
every dollar that a player spends in the machine—so for the first week the
players got $35.3 million back. This doesn’t mean that if you play the
machines you will only loose roughly $0.10 on every dollar, the slot
machines operate slightly different from that notion. The payback percentage
is calculated across thousands of spins on the machines, so all in all the
payback is spread across a longer period of time than the hour a player
spends on the machine.
So where might this revenue be going? Well the state already has some of the
slot machines revenue earmarked for things like property tax relief, the
local government, economic development and tourism, and a nice size chunk
will go toward Pennsylvania’s horse racing industry.
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