Pennsylvania casinos see revenue up 8% to $448M in May, led by Hollywood Casino at Penn National

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Pennsylvania casinos see revenue up 8% to $448M in May, led by Hollywood Casino at Penn National
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The combined total revenue generated from all forms of gaming in Pennsylvania during May 2022 was $447.8 million, an increase of 8.38% compared to revenue generated in May last year, according to a new report from the Pennsylvania Gaming Control Board released last Thursday.

Sources of gaming revenue regulated by the Board include slot machines, table games, iGaming, sports wagering, fantasy contests and video gaming terminals (VGTs). Hollywood Casino at Penn National placed first among venues offering gaming, at $62.8 million, almost flat from the $63 million posted the same month last year.

The top five list is completed by Parx Casino ($57.5 million), Valley Forge Casino Resort ($52.8 million), Wind Creek Bethlehem ($48.8 million) and Rivers Casino Philadelphia ($47.4 million). Of those venues, both Valley Forge and Wind Creek posted significant revenue increases (25.3% and 31.5% respectively), while Parx Casino and Rivers Casino were both slightly down.

The Board has also provided a synopsis of revenue year-over-year by types of games. Retail slots contributed the most to total revenue at $205.7 million, up 2.1% from May last year. Tables revenue provided $88.6 million, significantly up (14.7%) Y-o-Y, while iGaming slots posted $78.2 million, up 16.3%.

Sports wagering had a solid month in May, driving $35 million, up 26.2% from the same period in 2021. iGaming tables were slightly up 2.8% to $32.3 million, VGTs revenue increased by 1.8% to $3.7 million, and iGaming poker revenue rose by 8% to $2.8 million. Only fantasy contests saw a sharp decrease, down by 20.1% to $1.6 million.

While Parx Casino led retail slots despite a 9.2% revenue drop to $34.3 million, Wind Creek Bethlehem placed first for retail table games with $22.5 million in revenue, a 65.9% jump. Meanwhile, total internet games (iGaming slots, table games and poker) revenue was led by Hollywood Casino at Penn National, which was responsible for $45.5 million of the $113.3 million in statewide revenue.

Lastly, when it comes to sports betting, Valley Forge Casino Resort took the lead with $193.4 million in handle and $19.8 million in revenue. Monthly statewide handle amounted to $493.3 million, with Hollywood Casino at the Meadows ($111.5 million handle) and Hollywood Casino at Penn National ($34.4 million handle) completing the top 3 venues for the vertical.

According to Pennsylvania’s regulator, total tax revenue generated collectively through all forms of gaming was $181.6 million during the month. The state industry has been reported as performing well despite a slow summer season, with revenue only slightly down from the previous month’s results ($461.6 million)

Last week, the Pennsylvania Gaming Control Board announced it would be renewing Penn National's Hollywood Casino at the Meadows for a 5-year period. The Board unanimously voted in favor of the move as the casino’s operator fulfilled the obligations under its previously approved license. The decision followed public hearings and a Board investigation.

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