Pennsylvania has a broad casino market. The Pennsylvania Gaming Control Board (PGCB) recently released a gaming revenue report indicating that the state’s 20 online casinos raked in $154.8 million.
This was a slight drop from the $159.5 million they generated in September and it is among the state’s highest monthly revenue records. Also, last month’s revenue had a 7.3 percent increase year-over-year.
Which Games Earned Pennsylvania the Highest Revenue?
Poker play, table games, and digital slots generated 24.3 percent more revenue last month compared to October 2022. Still, they generated a significant portion of the $483 million that the state earned.
Retail casinos won $275 million from lost bets, fantasy sports competitions generated $2.7 million, truck stop VGTs earned $3.4 million and sports gambling earned the state $48.2 million. Even so, 17 casinos in the state didn’t record an increase in revenue generated from roulette, blackjack, and in-person play on slots.
The gaming venues made the same retail revenue as in September but it was 1.8 percent less than that of October 2022. Yet, the Parx Shippensburg casino hadn’t started operating last year. Pennsylvania has a blended tax rate of 41 percent for various types of gambling and it earned $196.9 million in taxes in October.
Does the State Have a New Gaming Revenue Benchmark?
Local gaming operators set $100 million in iGaming revenue as their highest record recently. But they have been reaching $150 million in the last two months hence forming a new revenue benchmark.
The operators had never reached $150 million before September. Instead, their previous highest record was the $148.2 million they made in March.
Pennsylvania doesn’t analyze its revenue based on individual casinos’ earnings like other states. Instead, it combines their revenue including that of land-based casinos’ partners.
PointsBet, BetMGM, DraftKings, Hollywood Casino, and Barstool are associated with Hollywood Casino at Penn National. They led in last month’s revenue raking in $62.2 million, recording a slight decrease from the $64.9 million they earned in September.
Stardust and FanDuel used the Valley Forge Casino Resort gaming license. They generated $35.4 million while Borgata, PlaySugarHouse, and BetRiver which use the Rivers Philadelphia license earned $29.3 million matching their September gaming revenue. Nevertheless, all the operators had a rise in their year-over-year revenue.
Bally Casino and Golden Nugget are the newest online casinos in Pennsylvania using unique licenses that aren’t linked to a retail gaming operator. Golden Nugget earned $3 million in October, a huge drop from the $4.9 million it made in September.
Gaming experts predict that the decrease could have resulted from the casino minimizing its client bonuses after launching its operation. However, Bally Casino made $1.8 million last month, which was slightly higher than the $1.7 million it generated in September.
How Did Retail Casinos Perform?
Local retail casinos generated $192.5 million from slots, which was 3.3 percent less than their October 2022 revenue. Table games earned them $81.5 million, a 2 percent increase compared to October last year.
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