Pennsylvania’s gaming landscape continues to thrive, as indicated by the Pennsylvania Gaming Control Board’s latest figures. In September, the combined revenue from regulated gaming and fantasy contests reached an impressive $448.4 million, showcasing a substantial 7.9% increase compared to the same period in 2021. The state’s gaming revenue sources, including slot machines, table games, sports wagering, fantasy contests, and video gaming terminals (VGTs), have contributed to the flourishing industry. Moreover, the online gaming sector demonstrated remarkable growth, with a significant 15.2% increase, amounting to $112.7 million in revenue.
Diverse Revenue Sources:
Pennsylvania’s gaming industry boasts a diverse range of revenue sources, spanning traditional land-based casinos and the burgeoning online gaming sector. While retail slots revenue experienced a slight 0.18% decrease year-on-year, retail table games revenue also saw a modest decline of 2.9%. Despite these dips, land-based casinos like Hollywood Casino at Penn National, Parx Casino, and Valley Forge Casino Resort displayed resilience, with notable revenue increases and dynamic performances.
Online Gaming’s Remarkable Growth:
The online gaming sector in Pennsylvania is a major driver of the industry’s success, witnessing a remarkable 15.2% year-on-year increase in revenue, soaring to an impressive $112.7 million. Hollywood Casino at Penn National led the way in the online gaming segment, generating $48.6 million in revenue, followed closely by Rivers Casino Philadelphia with $26.1 million and Valley Forge Casino Resort with $19.5 million. The notable growth in online gaming also contributed to a substantial tax revenue of $47.6 million in August, underscoring its significance to the state’s economy.
Sports Betting and Taxable Revenue Surge:
The sports betting sector in Pennsylvania experienced significant growth, with the total handle reaching $645.2 million, marking an 11.5% increase from September 2021. Taxable revenue from sports betting saw a remarkable surge of 77.7%, reaching $50.2 million compared to $28.2 million in the same period last year. Valley Forge Casino Resort, in partnership with FanDuel, retained its position as the leading sports wagering operator, generating $22.7 million in revenue from $212.9 million in bets.
Pennsylvania’s gaming industry has achieved impressive growth, evident from the 7.9% increase in combined revenue from regulated gaming and fantasy contests in September. With diverse revenue sources from land-based casinos, online gaming, and sports betting, the state’s gaming landscape is marked by resilience and dynamism. The substantial growth in online gaming is particularly noteworthy, with Hollywood Casino at Penn National leading the way in revenue generation. Additionally, sports betting has seen a surge in the total handle and taxable revenue, further contributing to the industry’s success. As Pennsylvania continues to thrive as a gaming and entertainment hub, it promises a prosperous future, offering a vibrant and diverse array of gaming experiences to residents and visitors alike.