Pennsylvania casinos see slight revenue increase to $429M in July; Parx Casino takes the lead
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The combined total revenue generated from all forms of gaming in Pennsylvania during July 2022 was almost flat at $429 million, a slight increase of 1.3% compared to the same month last year, according to a new report from the Pennsylvania Gaming Control Board released Wednesday.
Sources of gaming revenue regulated by the Board include slot machines, table games, iGaming, sports wagering, fantasy contests, and video gaming terminals (VGTs). During the month of July, Parx Casino placed first among venues offering gaming, at $56.3 million, thus registering an almost 12% decline year-over-year.
The top five list is completed by Hollywood Casino at Penn National ($55.7 million), Wind Creek Bethlehem ($50 million) Rivers Casino Philadelphia ($43.3 million), and Valley Forge Casino Resort ($41.3 million). Of those venues, Valley Forge posted the highest revenue increase at 17.1%, followed by Wind creek (13.9%) and Hollywood Casino (4%). Meanwhile, Rivers Casino recorded a significant decrease of 13.7%.
The Board also provided a synopsis of revenue year-over-year by types of games. Retail slots contributed the most to total revenue at $213.9 million, down 4% from July last year. Tables revenue was almost flat at $88.6 million, a slight decrease of 0.3% Y-o-Y, while iGaming slots posted $71.9 million, up 13.7%.
Sports wagering saw a significant revenue increase in July with $25.4 million, up 28.1% from the same period in 2021. iGaming tables also saw an increase of 4.5% to $23.8 million, while VGTs revenue decreased by 3.7% to $3.6 million, and iGaming poker revenue rose by 6.5% to $2.7 million. Fantasy contests, however, saw a sharp decrease, down by 45.3% to $858,569.
While Parx Casino led retail slots despite a 12.6% revenue drop to $33.6 million, Wind Creek Bethlehem placed first for retail table games with $23.6 million in revenue, up 41.9%. Meanwhile, total internet games (iGaming slots, table games, and poker) revenue was led by Hollywood Casino at Penn National, which was responsible for $38.5 million of the $98.5 million in statewide revenue.
In terms of sports betting, Valley Forge Casino Resort took the lead with $125.9 million in handle and $12.1 million in revenue. The monthly statewide handle amounted to $336.5 million, with Hollywood Casino at the Meadows ($76.7 million handle) and Hollywood Casino at Penn National ($21.2 million handle) completing the top 3 venues for the vertical.
According to Pennsylvania’s regulator, the total tax revenue generated collectively through all forms of gaming was $177.1 million during the month. The Gaming Control Board said the state industry has been performing well despite a slow summer season, with revenue seeing a sharp increase from the previous month’s results (which was at $389.8 million).
Earlier this month, the Bensalem Township Planning Commission voted to accept a plan presented by Parx Casino's parent company Greenwood Gaming and Entertainment to develop a 15-story hotel at its Street Road property. While the vote accepted the plan as brought forward by the applicant, it does not imply it has been fully approved, as the projectmust still clear a series of hurdles.
Thus, the development may still be several years away, as it needs to meet several township land development considerations and may have to overcome potential resistance from residents. The company intends to develop an upscale 15-story hotel at Parx Casino's site. The new amenity, near the Parx East racetrack grandstand area, would span about 6 acres, comprising71,681 square feet, according to development plans filed with Bensalem.
