Pennsylvania witnesses igaming rise but revenue remains below $500m

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Pennsylvania continues to witness an igaming surge, despite a slight poker drawback, as the state’s overall online gambling space recorded growth on both a yearly and monthly basis.

Reporting the latest set of monthly figures, the region’s Gaming Control Board reported that revenue through April reached $479.37m, up slightly from the previous month’s $476.7m and 7.05 per cent from $$447.79m year-on-year, but falling shy of the half a billion dollar mark once again.

Total tax revenue generated from slot machines, table games, sports wagering, igaming, video gaming terminals and fantasy contests stood at $197.91m.

Per casino property, the top three remain unchanged from April as Hollywood Casino at Penn National Race Course unsurprisingly maintained its leading status via an increase of 18.33 per cent to $74.35m (2022: $62.84m).

Valley Forge Casino Resort was next in line courtesy of a 21.71 per cent uptick to $64.21m (2022: $52.76m). This percentage was only topped by the 124.13 per cent rise felt by Hollywood Casino Morgantown, which closed with revenue of $7.1m, up 27.87 per cent from $5.55m

Elsewhere, to mirror the placings of one month earlier, Bensalem Parx Casino rounded off the top three after revenue nudged ahead 2.18 per cent to $58.74m (2022: $57.49m).

Elsewhere, igaming recorded an increase of 24.42 per cent from $113.3m to contribute $140.97m of the aforementioned headline figure.

Online slots unsurprisingly led the way with a 28.61 per cent increase to $100.59m (2022: $78.21m), as igaming tables forged ahead 17.33 percentage points to $37.87m (2022: $32.28m). Online poker fell 11.01 per cent to $2.5m (2022: $2.81m).

It’s another case of familiarity in the property-by-property online casino standings, with Hollywood Casino at Penn National Race Course ahead with $58.38m, up 28.38 per cent from the past year’s $45.47m.

This is ahead of Valley Forge Casino Resort’s 39.45 per cent increase to $29.53m (2022: $21.18m), with Rivers Casino Philadelphia closing May at $29.39m, 9.06 per cent ahead YoY from $26.94m. Harrah’s Philadelphia secured the largest percentage increase after recording a 79.92 per cent surge to $5.14m (2022: $2.85m).

Looking at specific game types across the year, retail slots remain the dominant force with revenue of $210.86m, which represents a 2.53 per cent increase when compared to the $205.66m generated in one year earlier. Retail table games dropped 7.82 per cent to $81.64m (2022: $88.57m).

Total sports betting handle through the month was $495.58m, which represents a rise of less than one percentage point YoY from $493,35m. Revenue reached $41.1m, up 17.41 per cent from $35m.

Revenue for video gaming terminals was $3.37m, a decline of 2.43 per cent YoY from $3.66m, with fantasy contests down 22.58 per cent to $1.21m (2021: $1.56m).