Pennsylvania Gambling Revenue Grows by 18.2% in January
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According to data released by the Pennsylvania Gaming Control Board (PGCB), gambling revenue in the state grew by 18.2% year-on-year in the month of January.Slots accounted for 43% of all revenues
The latest figures show growth in all sectors including land-based slots, table games, sports betting, iGaming, video gaming terminals (VGTs) with the exception of fantasy contests. Combined revenues for all sectors came to $464.4 million, up from $393.1 million in January of 2022. However, this was still 2.2% lower than $475 million reported in December 2022.
Retail slots were the industry’s main source of revenue as casinos reported $202.2 million in slots revenue for the month. This was a 20.1% increase on January 2022. Casinos also reported that revenue from table games also grew by 7.3% to $83.9 million. Revenue from Video Gaming Terminals came to $3.3 million a jump of 7.9% year-on-year while fantasy sports revenue fell 9.5% to $2.6 million.
iGaming up by 22.9%
Online casino gaming operators reported a 22.9% increase in revenues to $133.1 million. Of that figure, $90.2 million came from online slots which saw a 25.6% jump in revenues year-on-year. Meanwhile online casino table games revenue grew by 21% to $40 million for the month. However, online poker revenues dropped by 14.6% to $2.9 million.
The market leader in the iGaming sector was Hollywood Casino with $55.1 million for the month of January. This was significantly more than second-placed Valley Forge Casino Resort with $29.7 million in online revenues.
FanDuel leads sports betting market
Pennsylvania sports betting revenues grew by 22% to $39.3 million. Of this figure, $36.2 million came through online sportsbooks while the retail sector reported just over $3 million in revenues. The growth in revenue came despite a drop of 2.7% in betting activity. January 2023 saw sports fans wager $772.3 million while in the same period in 2022, sports betting handle came to $793.7 million.
FanDuel partnered with Valley Forge Casino was the market leader with 68.5% ($26.9 million) of all revenues. The nearest competitor was Hollywood Casino partnered with Barstool that reported revenues of $4.1 million.
Jenny TangAn experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.
