Posted on: March 20, 2024, 02:59h.
Last updated on: March 20, 2024, 02:59h.
Pennsylvania internet casino revenue hit an all-time monthly high in February. According to the Pennsylvania Gaming Control Board (PGCB), online gambling revenue topped $184.9 million. That’s 40% higher than the $131.6 million in February 2023.
The revenue reported by the PGCB shows the increase was boosted by a $77.3 million haul by PENN National’s multiple internet casino platforms. PENN’s February figure was 36% higher than 12 months prior. PENN National is home to online platforms DraftKings, BetMGM, and its internal platform.
All-time internet casino operator revenue in the Keystone State has surpassed $5 billion since iGaming launched in July 2019.
February’s record revenue total came despite a decline in handle from January. The state received $51.1 million in tax receipts from iGaming in February. That’s the first time Pennsylvania crossed the $50 million benchmark.
The first two months of 2024 have now seen $94 million enter the state’s coffers, which is more than $20 million ahead of last year’s pace.
Total Gambling Revenue is a Mixed Picture
Total gambling revenue in February amounted to $499.1 million. That’s 9.3% ahead of the $456.8 million in Pennsylvania for the same month last year. But, the February total for all forms of gambling is 1.6% behind the $464.4 million booked in January.
The PGCB regulates all gaming revenue from slot machines, table games, internet gaming, sports wagering, fantasy contests, and video gaming terminals. The PGCB says total tax revenue generated collectively from all forms of gaming was $204.9 million in February.
Retail slots remain the largest source of revenue in the Keystone State generating $202.7 million.
The PGCB’s February report indicates momentum early in this year for all forms of gaming and follows a record 2023. As reported by Casino.org, iGaming, in-person and online sports betting, brick-and-mortar casinos, and fantasy sports combined to win $5.697 billion in 2023. That’s a 9.3% increase from the previous year.
Other Notes From Pennsylvania
There were small gains for brick-and-mortar casinos in February. Retail casino revenue totaled $279.4 million, up 0.7% compared to last year.
Nine of Pennsylvania’s 18 venues saw at least $10 million in slot winnings. Three casinos surpassed $20 million.
The sports betting market did see a decrease in revenue in February, however. Year-on-year sports betting revenue declined 30% to $30 million.
Sports betting advertisements have come under scrutiny in Pennsylvania, as they have in many US states. Operators in Pennsylvania have been told to remove certain words and phrases from ads and marketing materials. The PGCB joined other states in mandating that licensed sportsbooks don’t use phrases such as “free bet,” “risk-free bet,” “free play,” or other similar language.
