Combination Of Factors Challenge PA Casinos In Matching 2019 Revenue
Pennsylvania's gaming industry generated $4.73 billion in commercial revenue in 2021. Online casinos and sports betting helped the industry grow. Casinos struggled to match the previous year's revenue. The state has 16 casinos, but only 12 were open in the past decade. The slots and tables revenue totaled $3.21 billion. For the dozen that were also in business in 2019, it was $2.87 billion, a 12.2% decline from the pre-COVID era.
There are four new casinos in Pennsylvania since 2019. Casinos have reduced their costs by offering fewer amenities and reducing the number of slot machines. Online casinos are also growing. The state's 12 casinos have 11,868 employees in 2021 compared to 16,717 two years earlier. The gaming board’s annual report covering the fiscal year ending June 30 showed the 12 casino with 11.872 employees compared with 16.716 two year earlier, but two saw increases in slots and table revenue.
There are four new casinos in Pennsylvania since 2019. Online casinos also exist in the state. The state has an older population and a low social tolerance. The casinos were not shut down for a third of the year in 2019, but they dealt with many restrictions on operations the first half of that year.
The table below shows how the 10 casinos failed to keep pace with pre-pandemic numbers in 2021 compared to 2019.
Live! Philadelphia opened last year in mid-January. It's shaking up the market within the city and in the continuous counties that contain Parx, Valley Forge Casino Resort, and Harrah’s Philadelphia. In 2019, the four casinos operating in metropolitan Philadelphia generated $1.32 billion in revenue. The original four tallied just $ 1.16 billion of that, a 12% drop from two years prior.
Pittsburgh-area casino revenue declined overall in 2021. Live! Pittsburgh made $99.9 million from slots and tables in its first full year in operation. Lady Luck Nemacolin, Lady's Meadows and Rivers Pittsburgh lost a lot of money. The market generated $648.2 million in 2019. The original three casinos earned $542.5 million last year. There are two more mini-casinos planned for Pennsylvania. They are in Cumberland County and in State College.