Gaming revenue exceeds a half-billion dollars for the first time
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March was a bad month for bettors but a great month for gaming in Pennsylvania.
The Pennsylvania Gaming Control Board (PGCB) reported this week that all forms of gaming, along with fantasy contests, generated $515 million in revenue in March, an increase of 11% from a year before and the first time Pennsylvania crossed the half-billion dollar line since gambling was legalized in the commonwealth in 2006.
Hollywood Casino at the Meadows in North Strabane saw a 51% increase in overall revenue from March 2022, leaping from $20.5 million to $31.1 million. In contrast, Lady Luck Casino Nemacolin in Fayette County saw a 21% dip, declining from an even $2 million to $1.6 million. The Washington County casino saw the second-highest revenue increase in March, with Hollywood Casino Morgantown, located in Berks County, leading the way with a 66% jump.
The revenue leader was Hollywood Casino at Penn National, located in Grantville, which brought in close to $81 million.
What fueled the increase? March has typically been the month where casino attendance is highest, according to Doug Harbach, a spokesman for the PGCB, with visitors eager to shake off the winter doldrums or spend refund checks they have received from their taxes. Revenue this year was also given a boost because so many teams that were favored in the NCAA March Madness basketball tournament ended up fizzling out.
“There were a significant amount of upsets and lack of favored teams advancing in the tournament,” Harbach explained.
Indeed, revenue from sports wagering skyrocketed almost 177% in March compared to the year before at the Hollywood Casino at the Meadows, going from $4.4 million to $12.3 million. Other casinos saw even bigger increases – it grew by 645% at Hollywood Casino Morgantown and by 1,099% at Harrah’s Philadelphia. Overall, sports wagering revenue increased by 66%, to $50.6 million.
Slot machine revenue went up by 12% at the Hollywood Casino at the Meadows, going from $13.9 million to $15.7 million. At Lady Luck Casino Nemacolin, it fell by 22%, landing at $1.4 million from $1.8 million. Table games revenue at Hollywood Casino at the Meadows increased 47%, from $2.1 million to $3.1 million. It fell by 10.8% at Lady Luck Casino Nemacolin, going from $188,482 to $167,975.
