Tuesday, December 6, 2022
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Sports wagering surges and igaming hits highs for Pennsylvania

Another strong sports betting performance complemented by best ever igaming revenue have driven the Pennsylvania gambling space to $450.23m in October, up 5.71 per cent from $425.91m.

This saw total tax revenue across slot machines, table games, internet gaming, sports wagering, fantasy contests and video gaming terminals come in at $183.73m, which represents an increase of 6.61 per cent year-on-year from $172.33m.

Revenue gained from igaming recorded a 21.01 per cent YoY increase to $124.5m (2021: $102.9m), which becomes the highest monthly total after eclipsing the $118.11m amount gained in March 2022.

The top three remained consistent month-on-month, with Hollywood Casino at Penn National ($52.7m) leading the way ahead of Rivers Casino Philadelphia ($29.28m) and Valley Forge Casino Resort ($23.39m).

Sticking with the Keystone State’s digital ecosystem, online slots and table games each brought upticks of 22 per cent and 21.76 per cent to $86.31m (2021: $70.72m) and $35.69m (2021: $29.31m), respectively.

On an overall basis, Hollywood Casino at Penn National retained its place at the summit courtesy of a 20.4 per cent revenue rise to $68.7m (2021: $57m).

Valley Forge Casino Resort continued to climb to close the month in second with $56.48m, up 31.75 per cent MoM from $42.87m, with Parx Casino sliding one place to third after a 4.24 per cent October drop to $54.94m

Rivers Casino Philadelphia recovered from September’s third to fifth place drop by recovering one position with revenue of $48.99m, an increase of 5.9 per cent year-on-year from $46.26m.

Looking at specific game types and retail slots remains the dominant force with revenue of $199m, which represents a a 2.11 per cent decrease when compared to the $203.34m generated in October 2021.

The total number of such machines in operation during the month stood at 25,497, which represents a narrow decline from the 25,717 situated in casinos one year earlier. Retail table games revenue for July 2022 dropped 10.36 per cent to $79.84m, .

Total sports betting handle through the month was $797,12m, a 2.69 per cent increase from the past year’s $776.27m, with revenue duly following suit by 72.16 per cent to $40.51m from 2021’s $23.53m.

Online took the lion’s share after charging 86.35 per cent to close the quarter at $34.44m (2021: $18.48m), with retail contributing $6m (2021: $5m).

Adjusted revenue for video gaming terminals was $3.54m or 5.16 per cent higher than October 2021 $3.37m, with fantasy contests down 24.99 per cent to $2.77m (2021: $3.69m).

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