The Pennsylvania Gaming Control Board (PGCB) has revealed that the state has generated tax revenue of $3.4m (£2.7m/€3.0m) from its first full year of regulated fantasy sports contests.
Total revenue for the year running from May 2018 to April 2019 amounted to $22.5m, with DraftKings and FanDuel accounting for the vast majority of this sum. Operators pay a 15% tax on adjusted revenue derived from players in Pennsylvania, resulting in the $3.4m going to state coffers.
DraftKings led the market for the year, with its revenue of $11.5m accounting for just over half the market total. It was closely followed by the Paddy Power Betfair-owned FanDuel, which generated a further $10.3m for the year.
Following the fantasy market leaders was DRAFT, a business also owned by Paddy Power Betfair, which was responsible for $320,105 of the full-year revenue total. Fantasy Football Players Championship came in fourth with revenue of $184,932, followed by SportsHub Technologies with $114,812.
These five operators were the only companies to generate more than $100,000 in full-year revenue from the state. Fantasy Draft generated $41,103 for the year, ahead of Yahoo Fantasy Sports ($28,128), Full Time Fantasy Sports ($16,095) and Boom Fantasy ($12,785).
The final licensed operator, FastPick.com, made $381 in revenue from Pennsylvania, but has since withdrawn from the market.
The full-year figures have been published alongside figures for April, which reveal a 13.3% month-on-month increase in revenue to $1.9m. FanDuel led the market for the month, with revenue of $961,867.32 representing a 30.6% increase on March.
DraftKings, meanwhile, saw revenue slide 2.2% to $845,553.33. Collectively FanDuel and DraftKings generated 97.6% of fantasy revenue for the month.
As with the full-year figures, DRAFT came third with revenue of $23,348.60, up 15.8% month-on-month, followed by Yahoo Fantasy Sports, which saw revenue grow 37.6% to $15,864.70.
SportsHub Technologies generated $3,627.45, a marked improvement on the its total of $112.58 for March, while Fantasy Draft rebounded from a $727.22 loss with revenue of $1,918.83.
Boom Fantasy, however, saw its monthly total plummet from $2,716.60 in March to $371.38, and both Fantasy Football Players Championship and Full Time Fantasy Sports failed to generate any revenue in April.
Pennsylvania’s tax take for April was $277,882.75, up 13.3% month-on-month.