Madness: Pa. gambling revenue hit new record in March
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The month of March tends to yield higher gambling revenue for Pennsylvania and last month was no exception. In fact, it broke records.
Money generated from gambling during March was about $515.3 million, an increase of 11.35% compared to the previous year, according to the Pennsylvania Gaming Control Board.
Of course, March Madness played a role. Sports wagering spiked 66.59% year-over-year, according to gaming board data, the highest jump of any category in March.
The next largest increase was online slots with a 32.4% increase and online tables with a 13.4% increase.
But the house didn’t always win when it came to internet gaming. Online poker dropped nearly 11%.
Retail table games also slipped – almost 9% — in March.
The one-month haul means almost $212.4 million generated in tax revenue for the state. A portion of the revenue is used to reduce school property taxes.
It’s the first time a monthly number surpassed the half billion mark for the first time since legalized gambling got the green light in 2006.
“March has traditionally always been a good month,” said Richard McGarvey, spokesperson for the gaming board. “People are coming out after the winter, lots of people are going to casinos and we’ve added new forms of gaming online.”
Stephanie Ritenbaugh is a Tribune-Review staff writer. You can contact Stephanie at sritenbaugh@triblive.com.
