Pennsylvania gambling revenue edges up year-on-year in January
$5,000 Welcome Bonus
Revenue was up from $464.4m in January 2023 but 10.7% behind the $534.2m generated in Pennsylvania in December. This revenue comprises land-based slot and table games, online gambling sports betting, video lottery terminals (VLTs) and fantasy sports.
Physical slots remain the primary source of gambling revenue in Pennsylvania at $179.5m, down 11.2% year-on-year. Land-based table games revenue also slipped 13.4% to $72.7m.
Slots drive online gambling growth in Pennsylvania
In contrast, the Pennsylvania online gambling sector reported more growth. During January, revenue from igaming amounted to $149.6m, up 12.4% from last year.
Online slots revenue reached $110.0m, a rise of 22.0%. However, online table game revenue fell 7.8’% to €36.9m, while internet poker revenue was almost level at $2.7m.
Hollywood Casino at Penn National remains the market leader with $50.5m in total igaming revenue. Valley Forge Casino Resort ranked second with $41.6m, then Rivers Casino Philadelphia on $29.5m for the month.
Sports betting revenue rockets 77.9%
Turning to the sports betting market, total revenue here was up by 77.9% to $69.9m. This includes $66.0m in online wagering revenue and a further $3.9m from the retail sportsbook market.
In terms of handle, this reached $858.2m for January, an increase of 8.1% from $793.7m last year. Players spent $808.8m betting online and $49.4m at land-based locations.
Valley Forge Casino Resort and FanDuel remain some way out in front in this market. During January, the partnership generated a total of $39.6m in sports betting revenue.
Hollywood Casino at the Meadows and DraftKings were a distant second with $19.0m, then Hollywood Casino Morgantown and BetMGM on $3.6m.
Elsewhere, VLT revenue in Pennsylvania amounted to $3.0m in January, down 9.1%. Fantasy sports revenue also edged down 3.9% to $2.5m.
Pennsylvania welcomes newcomers
The Pennsylvania market could be set for further growth after it was confirmed that several new brands will launch.
Last month, Fanatics Betting and Gaming launched its sportsbook and online casino in the state. The Fanatics brand replaces PointsBet, with existing customers moving over to the new-look Fanatics platform.
Meanwhile, microbetting operator Betr last month entered into a market access deal for Pennsylvania. Betr’s agreement is with the Cordish Gaming Group, the gaming division of The Cordish Companies.
Betr also secures similar access deals in Colorado and Kentucky.
