Pennsylvania’s Gambling Revenue Soars to $557.7 Million in July
In July, Pennsylvania experienced a notable surge in gambling revenue, hitting $557.7 million—a significant 11.4% increase compared to the same month last year. This growth has been primarily fueled by the expanding iGaming sector within the state.
According to the Pennsylvania Gaming Control Board (PGCB), this month’s revenues not only outpaced last year’s figures but also saw a 2.4% rise from June of this year.
While traditional brick-and-mortar casinos continued to dominate the revenue landscape, their growth was modest. In contrast, the iGaming sector reported a striking double-digit increase, showcasing a shift in consumer preferences towards online gaming experiences.
iGaming Revenue Breaks Records
The state’s iGaming revenues reached an impressive $228.3 million in July, marking a 30.9% year-over-year rise. This figure includes a robust $177.2 million from online slots, $48.5 million from table games, and $2.5 million from poker games.
Hollywood Casino at Penn National Race Course emerged as the largest contributor in this space with $87.8 million in iGaming revenue, reflecting a remarkable 37.2% increase. Valley Forge Casino Resort followed closely with $61.0 million, up 34.1%, while Rivers Casino Philadelphia rounded out the top three with $37.8 million—a 26.5% rise year-on-year.
Sports Betting Revenue Sees Incremental Growth
In the realm of sports betting, August brought a revenue uplift of 5.2% to $40.6 million. This figure comprises $37.9 million from online betting channels and $2.7 million from retail sports betting.
Interestingly, the overall handle for sports betting dipped slightly by 0.5% to reach $412.5 million. Online wagering accounted for $392.6 million of that total, with retail betting contributing $19.9 million. The state’s monthly hold stood at a solid 9.84%.
FanDuel, in collaboration with Valley Forge Casino Resort, maintained its position as the market leader, generating $15.5 million from a $140.9 million handle, translating to an impressive 11.00% hold.
DraftKings and Hollywood Casino at the Meadows secured second place with $11.3 million from $112.3 million, reflecting a 10.06% hold. Fanatics and Hollywood Casino York followed closely, earning $2.7 million from a $28.4 million handle for a 9.51% hold.
Trends in Retail Gambling
On the land-based gambling front, retail slots experienced a 2.1% revenue boost, totaling $208.5 million, thereby maintaining its status as the primary revenue driver in Pennsylvania’s gambling scene. However, the revenue from table games saw a 4.0% decline, landing at $76.2 million.
Revenue from video gaming terminals at truck stops dropped by 1.1% to $3.4 million, while fantasy sports also faced challenges, plummeting 17.1% to $592,766.
On the taxation side, state and local governments collected a substantial total of $248.5 million from gambling activities in July. This included $103.9 million from iGaming, $14.6 million from sports betting, $105.3 million from land-based slots, and $12.9 million from physical table games.
This analysis indicates not only strong financial performance across various sectors but also highlights the dynamic shifts in consumer preferences towards online platforms—a trend that is reshaping the gambling landscape in Pennsylvania.