Pennsylvania Gaming Revenue in July up by 1.28% To $429M
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The Pennsylvania Gaming Control Board (PGCB), the gambling regulator in the state, released the gaming revenue results for July, marking a somewhat increase when compared to July last year.
Pennsylvania Gaming Revenue in July up by Less than 2%
In total, the gaming revenue reported from all forms of gambling including fantasy contests last month hit $429 million. When compared to the $423.7 million in total gaming revenue reported for the same period in July 2021, this year, a slight increase of 1.28% is observed.
The overall tax revenue generated from all forms of gambling this July didn’t increase much as well. Some $177.1 million were raised as taxes last month. When compared to the $174.7 million in taxes from July 2021, this year in July, taxes increased slightly by 1.37%.
Sports Betting, iGaming Slots Revenue Increased Last Month
The PGCB released a breakdown of the gaming revenue reported last month. Judging by the results, last month was a strong month only for sports betting and iGaming slots. A year-over-year comparison shows that sports wagering revenue last month increased by 28% to $25.4 million. Another strong increase was observed in the iGaming slot revenue last month which hit $71.9 million, up 13.7% when compared to July 2021. According to the PGCB, the iGaming poker revenue last month increased by 6.5% to $2.8 million, while iGaming tables revenue hit $23.9 million, marking a 4.5% increase.
In contrast, retail slots revenue decreased by 4% last month to $213.9 million when compared to July last year, while retail table game revenue decreased by less than 1% to $86.6 million. The revenue for video gaming terminals in July dipped by 3.7% to $3.6 million, while revenue from fantasy contests plummeted by 45.3% to $858,569.
Only Six Operators Report Increase in Revenue
The recent report released by the PGCB provides a breakdown of the revenue per operator. Out of 17 operators, only six reported an increase in their revenue last month. Hollywood Casino Morgantown’s revenue last July was only $570,794. This July, the venue’s revenue soared to $6.6 million.
Valley Forge Casino Resort also reported strong revenue last month. The resort’s revenue last year halted at $35.3 million, while this July, it increased by 17% to $41.4 million. Similarly, Wind Creek Bethlehem’s revenue in July increased by nearly 14% to $50 million.
Hollywood Casino at the Meadows and Hollywood Casino at Penn National reported revenue of $22 million and $55.8 million, up 6.25% and 4% respectively. While Harrah’s Philadelphia revenue increased by less than 1% to $18.4 million in July, Parx Casino’s revenue decreased by nearly 12% to $56.4 million.
