Record-Breaking Gambling Revenue of $5.21 B Soars in Pennsylvania in 2022
Since gambling in Pennsylvania is riding the waves of an increasingly permissive environment, it comes as no surprise that 2022 was a massively successful year for the state, resulting in almost half a billion worth of dollars in terms of year-on-year increase totals.
To find out what lies behind the success of casinos in PA, we’ll be looking at some concrete numbers, along with the contributing factors.
An Overview of the Biggest Casinos in Pennsylvania
To see how far the state’s gambling industry has come, there is an interactive map of casinos by Casinos.us that pinpoints the biggest casinos in Pennsylvania. You can learn more about the establishment that interests you by navigating the map and clicking on each.
As is apparent from the sheer number of providers, Pennsylvania is one of the top gambling destinations in the US. Here’s how the state’s gambling sector fared in 2022:
In 2022, the Combined Gambling Revenue in PA Came up to $5.21bn
Pennsylvania’s total gambling revenue reached $5.21bn in 2022 and it was thanks to table games, slots, video gaming terminals, sports wagering, and fantasy contests, which are essential building blocks of entertainment no best casino in Pennsylvania would forego. Compared to 2021’s financial results, this is roughly a half a billion increase, as a result of the enhanced business performance. In total, the combined tax revenue came in at $2.12bn, an improvement over 2021’s $1.93bn.
These numbers come from the Pennsylvania Gaming Control Board, a gaming entity that recently launched a self-exclusion program for online gambling. They are tasked with overseeing 16 casinos in total, in addition to online casinos in PA, game terminals at truck stops, sports betting, and retail wagers.
Slot Machines Were the Big Breadwinners
The biggest casinos in Pennsylvania integrate slot machines as part of their product offerings, and it’s for a good reason – these turned out to be the biggest breadwinners in 2022, revenue-wise. In total, they produced a revenue of $2.39bn, a 4.51% year-on-year increase.
Next on the list, we have table games and the $990m in revenue they brought in, representing a 7.1% year-on-year increase. Sports betting accounted for $401m, an 18% year-on-year increase.
Dough Harbach From the Gaming Control Board Shared His Thoughts
Dough Harbach, Gaming Control Board’s official spokesperson, shared his thoughts on gambling in Pennsylvania and its increasing popularity. He believes that the biggest online casinos in Pennsylvania are riding the wave of popularity due to players getting increasingly more comfortable with placing a bet online. Having the option to choose between multiple casinos in a healthy competitive environment appears to be another contributing factor.
Fantasy Leagues Was the Only Category With a Disappointing Outcome
Although 2022 was a fine year for gambling in Pennsylvania in general, there was one category that underperformed compared to the others – fantasy games, the revenue for which decreased by 23.9% and fell to $22m.
Surprisingly, there is no clear reason for this, although Harbach speculates it could be that sports betting is simply garnering more interest from the crowd.
December Growth Was Apparent in Particular
In the final month of 2022, the gambling revenue was soaring for casinos in PA. At $475.m, this turned out to be 16.9% more compared to the same month last year. Land-based slots were a massive contributor at $198m in revenue brought in, up 1.3% from last year’s December.
What’s particularly noteworthy is that Pennsylvania’s online gambling revenue brought in $134.6m, a year-to-year increase of 31.8% and a new monthly all-time high for the state. This was divided between:
– Online slots ($91.6m)
– Online table games ($40.4m)
– Online poker ($2.6m)
Sports betting skyrocketed to $54.6m in December, resulting in a massive 190.3% year-on-year increase. Out of that, online sports betting accounted for $48.2m, while land-based establishments raked in $6.5m.
Before we wrap this up, there are certain honorable mentions that contributed to the state’s gambling sector’s overall financial success.
At $42m, we have video game terminals at truck stops that represent a 6% year-on-year increase in revenue generated. Allegedly, there are 66 such destinations in PA.
The Rivers Casino that’s also known for its $51.5m North Shore hotel had its revenue reach $373.9m, a 5.17% year-on-year increase.
Hollywood Casino at the Meadows in Washington County recorded a revenue of $265.7m, a 5.6% year-on-year increase.
Finally, we have the Live Casino Pittsburgh in Westmoreland Mall with a revenue of $111.9m, with a double-digit year-on-year increase at 10.29%.
Gambling in Pennsylvania is a massive rising trend. With the state being a pro-gambling environment and the sheer amount of gambling establishments that are competing with one another to improve their product catalog, the stage is set for the numbers to increase even more from where we are now.