Pennsylvania Gambling Operators Report Significant Growth in February
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According to data released by the Pennsylvania Gaming Control Board (PGCB), gambling revenue in the state grew by 21.6% year-on-year in the month of February.
The latest figures show that combined revenues for all sectors came to $456.8 million. This is the second largest revenue figure in history for the month of February.
Retail slots were the industry’s main source of revenue as casinos reported $202.8 million in slots revenue for the month. This was a 4.1% increase on February 2022 and a marginal increase on the previous month. Casinos also reported that revenue from table games grew by 0.18% to $74.5 million. Revenue from Video Gaming Terminals came to $3.3 million, a jump of 9.2% year-on-year while fantasy sports revenue fell by 16.3% to $1.3 million, half the figure reported in the previous month.
iGaming up by 28.5%
iGaming operators reported a 28.5% increase in combined revenues to $131.6 million, down slightly from the previous month. Of that figure, $92.8 million came from online slots which saw a 36.27% jump in revenues year-on-year. Meanwhile online casino table games revenue grew by 15% to $32.1 million for the month. However, online poker continues its downward trend as revenues dropped by 7.8% to $2.6 million.
The market leader in the iGaming sector was once again Hollywood Casino with $56.4 million for the month of February. This was more than twice the revenue figure reported by second-placed Valley Forge Casino Resort with $27.4 million in online revenues.
Sports betting revenues up by 9861.87%
Pennsylvania sports betting revenues grew by 9861.87% to $62.2 million year-on-year following a negative reporting period in February 2022. Sportsbooks reported accepting over $599.5 million in wagers throughout the month, a 0.41% increase year-on-year. Of this figure, $555.7 million came through online sportsbooks resulting in $57.4 million in revenue. Meanwhile, the retail sector accepted just over $43.7 million in wagers generating $4.7 million in revenue.
Jenny TangAn experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.
