In a noteworthy surge, Pennsylvania’s regulated gaming and fantasy contest revenue soared to $440.4 million in June 2023, marking a robust 13% increase compared to the same period last year. The comprehensive figures, released by the Pennsylvania Gaming Control Board, encompass various sources of gaming revenue, including slot machines, table games, online gaming, sports wagering, fantasy contests, and video gaming terminals.
Land-Based Casino Performance:
Retail slots revenue witnessed a 4.4% year-on-year increase, reaching $201.5 million, underlining the continued popularity of traditional slot gaming.
Retail table games revenue experienced a marginal uptick of 0.1%, totaling $76 million.
Top-Performing Casinos:
Hollywood Casino at Penn National emerged as the leader in land-based casino revenue, recording $72.5 million, showcasing an impressive 27% growth from June 2022.
Parx Casino in Philadelphia generated $51.3 million, with a slight year-over-year decrease of 1.2%, while Valley Forge Casino Resort reported a remarkable 48% increase, reaching $51.1 million.
Online Gaming Flourishes:
Online gaming revenue soared by 31.6%, amounting to $135.4 million, indicating a sustained appetite for virtual gaming experiences.
Key contributors to online gaming revenue included Hollywood Casino at Penn National ($57.8 million), Valley Forge Casino ($28 million), and Rivers Casino Philadelphia ($26.9 million). Tax revenue from internet gaming reached $58.9 million.
Sports Betting Metrics:
Despite a 5% decrease in the sports betting handle, which stood at $373.1 million, taxable revenue for June exhibited a notable surge of 80.59% compared to June 2022.
Valley Forge, in collaboration with FanDuel, led the sports betting revenue charts with $11.4 million, followed by Hollywood Casino at the Meadows’ Barstool Sportsbook ($6 million) and Hollywood Casino Morgantown ($1 million).
Tax Revenue Impact:
The cumulative tax revenue generated through gaming and fantasy contests amounted to an impressive $183.7 million, underscoring the significant financial contribution to the state’s coffers.
Pennsylvania’s thriving gaming industry, as evidenced by the impressive revenue figures for June 2023, reflects the sustained growth and diversification within the state’s gambling landscape. From the flourishing online gaming sector to the resilience of land-based casinos and the dynamic sports betting market, Pennsylvania continues to be a pivotal player in the evolving U.S. gaming industry. The substantial tax contributions further reinforce the positive economic impact of the state’s regulated gaming activities. As the sector continues to evolve, stakeholders are optimistic about the continued success and sustainability of Pennsylvania’s gaming ecosystem.