The rebound in Pennsylvania’s sports betting market at the start of the year proved to be short-lived, with revenue tanking to a six-month low in both the retail and online channels.
iGaming Business and Ficom Leisure are delighted to present the Pennsylvania iGaming Dashboard, providing a monthly breakdown of the latest figures from the Keystone State’s regulated gambling market.
The data will be updated monthly following the official release of figures from the Pennsylvania Gaming Control Board.
Despite handle being only 5.3% lower in February than January, sports books generated a mere $4.7m in revenues last month, an enormous 79.4% drop on the previous month.
In retail, sportsbooks made just $600,000 in revenues, down from $4.9m in January, while online GGR fell to $4.1m, down from $17.9m the previous month.
It was largely Valley Forge Casino, partnered by FanDuel for sports betting, that caused the huge decline. Despite taking in bets of almost $141m, it managed to hold onto just $70,774 in revenues.
This saw it slide from being market leader on a GGR basis, with a 35.4% share in January, into eighth place with only 1.4% in February.
Valley Forge’s run of bad luck paved the way for Rush Street’s Rivers Philadelphia to climb into the top spot, with a market share of 23.7%. Hot on its heels, however, was DraftKings-powered Meadows, with 21.6%.
February was a better month for Valley Forge in the igaming vertical. Here it more than doubled its market share to 31.3% from 14.9% in January. This propelled it into the top spot, ahead of former market leader Rivers, which last month held a 24.4% share of the market.
Third-placed Mount Airy, partnered with The Stars Group, lost even more ground last month, falling to a 16.5% market share from 24.9% in January, when it had already fallen from 38% in December.
The igaming vertical as a whole performed strongly last month, with revenues hitting their highest level since the opening of the regulated market with $19.5m. GGR was up 39.2% on the previous month’s $14.0m.
As has been the case since the market launched, slots accounted for the bulk of online revenues, with February’s $9.6m a 33.3% rise on January’s $7.2m.
However, table games such as roulette and blackjack grew at a faster pace last month, with February’s revenues of $8.0m representing a 73.9% rise on January’s $4.6m.
Poker continued to fall, with revenues of $1.8m representing an 18% drop on January’s figure of $2.2m.
It also provides quarterly figures, available via iGamingBusiness.com, on the Spanish online market in the Spain iGaming Dashboard, on the Danish market in the Denmark iGaming Dashboard, and on the Portuguese market in the Portugal iGaming Dashboard.
A European corporate advisory firm, Ficom Leisure is a specialist in all segments of the betting and gaming sector.