Browse articles by topic

PA posts record igaming and sports betting revenue in October


Record online gambling and sports betting revenue in October drove overall market revenue in Pennsylvania up 12.9% year-on-year, according to new figures from the state Gaming Control Board (PGCB).

Statewide gambling revenue for the month totalled $320.2m, up from $283.7m in the same month last year, and also 12.7% higher than $284.2m in September this year.

Growth within the state’s online gambling market was one of the main reasons for this increase, with igaming revenue rocketing from $4.9m in October 2019, the first full month in which online casino was available to $59.8m. This represents highest ever monthly total for the vertical, surpassing the previous record of $57.0m set in September.

Online slots revenue reached $40.3m, while internet table games revenue totalled $17.0m, and revenue from online poker – which is currently only offered by PokerStars, via Mount Airy Casino Resort – amounted to $2.4m. A total of $24.9m was generated in tax revenue from igaming activities in the month.

Looking at individual operator performances, Rivers Casino Philadelphia again ranked first in terms of revenue, posting $16.6m for the month, up 564.0% from $2.5m last year.

Penn National and partner DraftKings placed second with $15.5m in revenue, an increase of 761.1% on October 2019, then Valley Forge Casino Resort on $10.0m, with no year-on-year comparable as it did not launch igaming until January this year.

Other stand-out performers included the Mount Airy Casino Resorts with $6.9m in revenue, Parx Casino on $5.9m and the Mohegan Sun Pocono with $2.6m.

Turning to sports betting and monthly revenue here also reached a record high of $36.8m, which was 147.0% higher than October last year and also 484.1% up on September’s total.

Retail revenue for the month amounted to $30.5m, while retail revenue stood at $6.3m. Operators paid a total of $13.2m in sports betting taxes.

The PGCB also noted that the state’s market set a new monthly handle record in October, with consumers spending a total of $525.8m on sports wagering, up from the previous record of $462.8m set in September this year.

The Valley Forge Casino Resort and FanDuel retained top spot in the market with $15.6m in revenue, up by 169.7% from $5.8m last year, some way ahead of the Meadows Casino on with revenue of $6.8m, some 3,732.2% higher than in 2019.

The Hollywood Casino at Penn National saw its revenue jump 878.0% to $3.4m, while revenue at Parx Casino also climbed 44.5% to $3.3m. Only two operators saw a decline in October, with revenue at Rivers Philadelphia slipping 9.8% to $2.5m, while the Mohegan Sun Lehigh Valley posted a $317,835 loss.

Meanwhile, the PGCB also noted that daily fantasy sports revenue for the month was down slightly by 3.0% to $3.2m. DraftKings led this market with $1.8m in revenue, ahead of main rival FanDuel on $1.4m, with all approved operators paying $480,451 in tax.

In terms of land-based casino activities, the PGCB reported further declines for both table games and slot machines, as venues continue to face restrictions related to the novel coronavirus (Covid-19) pandemic.

Revenue from land-based slot games amounted to $154.7m, down 17.2% on the same month last year, while table games revenue also slipped 13.4% to $63.3m. Tax from slot machines in October reached $80.1m and table games $10.2m.

Elsewhere, video gaming terminal gross revenue stood at $2.4m from $26.9m in total wagers, with tax from these machines amounting to $1.3m.

Looking at how this impact Pennsylvania’s year-to-date performance, revenue for the state’s entire gambling market in the 10 months to the end of October was $3.9bn.

Year-to-date online gambling revenue stands at $466.9m, with sports betting revenue at $183.2m, land-based slots contributing $2.35bn and table games $884.6m.