Pennsylvania’s regulated gaming and fantasy contests revenue reached $476.7 million in April, demonstrating a 3.2% year-on-year increase, according to figures released by the Pennsylvania Gaming Control Board.
Positive Trends in Revenue
The state’s diverse revenue sources encompass slot machines, table games, internet gaming, sports wagering, fantasy contests, and video gaming terminals (VGTs). In April, retail slots revenue decreased slightly by 2.2% to $213 million. Similarly, retail table games revenue decreased by 7.8% to $84.3 million.
Land-Based Casino Performance
Hollywood Casino at Penn National was the frontrunner among Pennsylvania’s land-based casinos in terms of revenue, reporting $74.4 million, marking a noteworthy 13.5% increase from April 2022. Valley Forge Casino Resort also demonstrated robust performance, generating $63.8 million, a year-over-year increase of 11.3%. In contrast, Parx Casino in Philadelphia reported $55.2 million, representing a slight decline of 3%.
Strong Growth in Online Gaming
Revenue from online gaming showed significant growth, surging by 21.3% to reach $137.2 million. Key contributors to this growth were Hollywood Casino at Penn National with $58.4 million, Valley Forge Casino at $31.2 million, and Rivers Casino Philadelphia at $26.1 million. Tax revenue generated from internet gaming reached $58.2 million.
Steady Performance in Sports Betting
The total sports betting handle in Pennsylvania amounted to $572.1 million, experiencing a marginal decrease of 0.12% compared to April 2022, when it stood at $572.8 million. The taxable revenue for April reached $37 million, marking a notable 10% increase compared to April 2022, which recorded taxable revenue of $33.6 million.
Key Players in Sports Betting
Valley Forge Casino and its partner FanDuel jointly generated $21.3 million from a total of $225.6 million in bets. Hollywood Casino at the Meadows’ Barstool Sportsbook reported $9 million from a $157.7 million handle. Other contributions came from Hollywood Casino Morgantown, with a $44 million handle, and Hollywood Casino at Penn National and DraftKings, which jointly generated $26.2 million.
Total Tax Revenue Impact
In April, all forms of gaming and fantasy contests contributed to total tax revenue of $195.6 million in Pennsylvania.
The state’s regulated gaming industry demonstrates steady growth, with online gaming emerging as a particularly robust sector. Furthermore, land-based casinos continue to play a significant role in the state’s gaming landscape, with Hollywood Casino at Penn National and Valley Forge Casino Resort leading the way in generating revenue.
The positive trends in Pennsylvania’s regulated gaming and fantasy contests revenue for April are indicative of the industry’s ongoing strength and resilience. With online gaming showing significant growth and land-based casinos continuing to perform well, Pennsylvania remains a vibrant and dynamic gaming market.