The Pennsylvania Gaming Control Board has released its February figures, revealing a thriving gaming industry with combined revenue from regulated gaming and fantasy contests reaching $456.8 million. This impressive performance marks a substantial 21.6 percent increase compared to the same month in 2022. The report encompasses various sources of gaming revenue, including slot machines, table games, internet gaming, sports wagering, fantasy contests, and video gaming terminals (VGTs).
Breakdown of Revenue Sources:
Retail Slots and Table Games: Retail slots revenue witnessed a commendable 4.1 percent year-on-year growth, reaching $202.8 million. Retail table games revenue also showed resilience, with a marginal 0.1 percent increase, totaling $74.5 million.
Leading Land-Based Casinos: Among Pennsylvania’s land-based casinos, Hollywood Casino at Penn National emerged as a leader in revenue generation, contributing $72.5 million—a substantial 21.9 percent increase from February 2022. Valley Forge Casino Resort reported an outstanding year-over-year growth of 96.5 percent, generating $61.3 million. Parx Casino in Philadelphia posted $54.5 million in revenue, marking a 1.7 percent increase.
Online Gaming: The online gaming sector continued its robust growth, with revenue surging by 28.5 percent to reach $131.6 million. Key players in this segment included Hollywood Casino at Penn National with $56.5 million, Valley Forge Casino Resort with $27.4 million, and Rivers Casino Philadelphia at $26.2 million. Tax revenue generated from internet gaming amounted to $56.3 million.
Sports Betting Handle: Pennsylvania’s sports betting handle for February reached $599.5 million, representing a slight increase of 0.4 percent compared to the same period in 2022. Valley Forge, in partnership with FanDuel, led the way with $23.4 million from $235.1 million in bets. Hollywood Casino at the Meadows’ Barstool Sportsbook reported $10.2 million from a handle of $157.3 million. Hollywood Casino Morgantown recorded a handle of $43.3 million, while Hollywood Casino at Penn National and DraftKings jointly reported $33.3 million.
Total Tax Revenue: The total tax revenue generated through all forms of gaming and fantasy contests in February amounted to a significant $188.9 million, further emphasizing the positive economic impact of the gaming industry in Pennsylvania.
Pennsylvania’s thriving gaming and fantasy contest industry showcased remarkable growth in February 2023, with robust revenue figures across various sectors. The state’s commitment to fostering a dynamic gaming environment continues to yield impressive results, benefiting both the industry and the broader economy.