Signs of a turnaround are growing more distinct in Pennsylvania, assert analysts, as the state regulator reports total June revenue of $132.5m, a little less than half of 2019’s $271.2m.
As land-based casinos reopen throughout the Keystone state, the performance of online casinos games and poker slowed during the month but still generated $50.1m in gross operator revenue, or $1.7m per day. That was down from $55.9m, or $1.8m per day, in May, partially affected by the return of land-based establishments.
Online table games and slots produced $46.8m in revenue on $1.7bn wagered, down from $1.8bn in May, with Rivers-Philadelphia leading the online casino market with $15m in revenue on $567.3m in wagers.
Mount Airy/PokerStars, the lone poker operator in Pennsylvania, generated $3.2m in poker revenue, down from $4.6m in May.
Further moves have seen FanDuel and DraftKings recently launch standalone apps, PartyPoker seeking regulatory approval and MGM Resorts and GVC Holdings planning its own launch amid a $250m investment.
“Online gambling is growing more important to the gaming industry with each month that passes, even as casinos reopen with diminished capacity,” said Dustin Gouker, lead analyst for PlayPennsylvania.com.
“The pandemic is changing behaviors of most everyone, and that certainly includes gamblers. The relative safety of gambling at home will remain appealing to many for the foreseeable future.”
Sportsbooks generated $89m in wagers during June, up 14.8 per cent from $77.5m in May, according to Pennsylvania Gaming Control Board data. June’s gross revenue rose 37.9 per cent to $6.7m, up from $4.8m in May, producing $1.6m in state taxes.
Online betting generated $88.3m during the month, with FanDuel/Valley Forge leading the way with $32.9m in bets, up from $29.6m in May, as in-person sports betting produced the first $689,534 in retail bets since March.
“The reopening of casinos in June is an important milestone that points toward brighter days, even if we’re not there yet,” commented Gouker. “Online gambling will continue to be a force for the foreseeable future.
“Online and retail sportsbooks, like brick-and-mortar casinos, will navigate an uncertain landscape as long as the pandemic is ongoing. If a setback can be avoided, though, the return of major sports later this month will be huge for the industry.”
Valerie Cross, analyst for PlayPennsylvania.com, added:”The disruption in sports betting is something no one could have seen coming, but even with it, the industry is leaps and bounds ahead of where it was last year.
“If major sports resume as planned, sportsbooks will almost instantly return to generating hundreds of millions of dollars in bets each month.”
