Why are revenues down at Hollywood Casino York?
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Hollywood Casino York revenues fell just over 4% in September compared to the same month last year.
The Pennsylvania Gaming Control Board (GCB) reported that casino in Springettsbury Township brought in just over $8.1 million which is below September 2022 revenue figures of just over $8.5 million.
That came despite the overall statewide revenue generated by all forms of gambling increasing more than 6% year-over-year, according to the GCB. The total of $476 million reflected a record haul statewide.
Casino spokespeople did not respond to requests for comment.
The situation may be driven by a hollowing out of sports wagering as more gamblers switch to iGaming. For comparison, the GCB reported that statewide iGaming revenues increased nearly 32% year-over-year compared to a 27% decrease in sports wagering over the same period.
Sports wagering in September at Hollywood Casino York was off 56% compared to September 2022. It brought in just over $174,000 from sports wagers compared to just over $400,000 that was brought in last September.
Across the region, September casino revenues were a mixed bag.
New Jersey's Division of Gaming Enforcement, for example, reported that Atlantic City casinos posted their largest monthly revenue decrease on record, with slot winnings falling a precipitous 21% year-over-year. Maryland's six casino slid 3% in September, according to that state's Lottery & Gaming Control Agency.
A number of factors could explain the regional slowdown.
“In the years since the pandemic, a lot more has changed than an individual’s willingness to come out and gamble in public,” said Jane Bokunewicz, director of the Lloyd Levenson Institute at New Jersey's Stockton University, which studies the casino industry.
“Beyond the direct impact of the pandemic itself, casinos were faced with other challenges like inflation, gas prices, changes in consumer behavior and the expansion of new gaming products,” she added.
Nevada gaming revenue, however, continues to grow — albeit slowly. That state's Gaming Control Board reported a 1% increase in August revenue, the most recent data available. July marked an all-time, single-month record of $1.4 billion statewide, according to The Nevada Independent.
Revenue from table games at Hollywood Casino York was also down in September. The Gaming Control Board said the York casino brought in nearly $1.2 million from table games in September compared to just over $1.6 million last year, a drop of 26%.
Slot machine revenue was up 4.5% for Hollywood Casino York in September, bringing in just over $6.7 million. Last September, they brought in just over $6.4 million.
The Pennsylvania Gaming Control Board said statewide total revenue generated from all forms of gaming, along with fantasy contests, during September 2023 was over $476 million an increase of 6.2% compared to revenue generated in September 2022.
Sources of gaming revenue regulated by the Game Control Board include slot machines, table games, internet gaming, sports wagering, fantasy contests and video gaming terminals (VGTs).
