The online gambling market in Pennsylvania is rapidly growing, which is proven by the fact that revenue smashed the records in February, even though other states recorded a year-on-year decrease in revenue.
Online gambling revenue
According to the report, Pennsylvania generated $184.9 million in online gambling revenue in February.
Overall, the revenue was $499.1 million. Compared to the same period the previous year, an increase of 9.3% is recorded, since in February 2023 the revenue was $456.8 million. However, in January 2024, the total revenue was $464.4 million, so February recorded a decrease of 1.6%.
The main source of revenue in Pennsylvania is still retail slots which generated $202,7 million. The revenue was slightly decreased, but the growth is recorded when considering the number of slot machines decreased from 25,708 to 24,962.
Land-based table games also had a successful period, since the revenue generated from them was $76,6 million, representing an increase of 2.9%. In 2023, the Pennsylvania online gambling market reached a revenue of $131.6 million. Compared to that, total iGaming revenue grew by 40.5% to $184.9 million in 2024.
Online slots generated $125.9 million, 35.6% more than in the previous year, while online table games earned $56.6 million, which represents an increase of 56.7%. Online poker wasn’t as popular as it used to be in 2023, since it generated $2.4 million, 8.3% less than in the year before.
Industry leaders
The casino that saw the highest revenue is Hollywood Casino at Penn National Race Course. Its online gaming operations earned $77.3 million in February, 36.8% more than in the same month of 2023.
The second place took Valley Forge Casino Resort, which generated $44,8 million. The casino operations saw significant growth since the revenue increased by 63.0%. Rivers Casino Philadelphia took the third place, with $29.3 million and an increase of 11.4%.
Sports betting revenue
On the other hand, sports betting isn’t as popular as it used to be in 2023. When it comes to total revenue, it decreased by 30.0% annually, and in February 2024 it was $30.3 million. The online betting sector saw $28.2 million, and retail revenue was $2.1 million.
However, the total handle increased by 10.4%, and in February it was $661.7 million, while in 2023 that number was $599.5 million.
A leader in the sports betting industry was Valley Forge Casino Resort and its partner FanDuel that earned 17.7 million in revenue. The second was Hollywood Casino at the Meadows and DraftKings, with $7.7 million in revenue, and Hollywood Casino Morgantown and BetMGM were the third with $1.2 million. Video lottery terminals saw a decline of 2.4%, with a revenue of $3.2 million, and fantasy sports decreased by 5.2% to $1.3 million.
Source: Fletcher, Robert. “Pennsylvania iGaming revenue reaches record $184.9m in February”. iGaming Business. March 20, 2024.
