Gamblers Flock Back To PA Casinos Without Increasing Internet Betting
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July saw a 27.6% drop in sports betting in Pennsylvania. However, the number of gamblers who bet on casinos increased. The Hollywood Casino York mini-casino opened last week. In July, there are now 15 casinos in the state. In June, 14 casinos earned $260.5 million. July's revenue from land-based casinos was $309.8 million, while in July of 2019, it was only $276.1 million due to the addition of Live! casinos. It was the first month since COVID-19 was lifted that all restrictions within casinos were lifted for the entire month.
FanDuel is the market leader with $106.7 million in handle and $9.5 million revenue. DraftKings reported $66.2 million handle (24% share of the Market) and $2.8 million of revenue in July. BetMGM was ahead of Barstool Sportsbook in the state's sports betting for the second month in a row. Caesars, TwinSpires and Betway reported revenue losses from giving out more promotional credits than they won off of bettors.
PA Casinos are settling around $90 million monthly. New Jersey's iGaming industry has experienced similar situation.
Pennsylvania casinos have been making money since January. The state and local governments get more than 40% of the revenue from slots and table games. Poker accounts for a relatively small amount of iGaming revenue compared to slots. Hollywood Casino, DraftKings, BetMGM, Barstool and PlaySugarHouse, which are licensed through Rivers Casino Philadelphia, took in the most with $32.1 million.
The surge in retail casino activity was welcomed by operators. Restrictions on capacity, social distancing, alcohol use, and indoor smoking have been lifted. The public in late spring and early summer began feeling more comfortable about crowded settings. Wind Creek Bethlehem, Presque Isle Downs & Casino, Valley Forge Casino Resort, up 34.9%, and Mohegan Sun Pocono, 22. 9%.
