Presque Isle Downs & Casino reports $15 million less revenue in 2023
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Presque Isle Downs & Casino saw its gaming revenue decline by about $15 million in 2023, a year in which casinos statewide earned record-high gaming revenue.
The Summit Township casino saw revenue decreases in all types of gaming, but the steepest was for iGaming (online casino gambling), which Presque Isle Downs shut down in February 2023. The revenue for iGaming dropped from $7.4 million in 2022 to $193,019 in 2023 (-97.4%), according to the Pennsylvania Gaming Control Board.
The casino's sports wagering revenue, which includes online and retail sports betting, fell from $4.35 million in 2022 to $1.24 million in 2023 (-71.4%). Slot machine revenue fell from $95.31 million to $91.74 million (-3.75%), while table games revenue dropped from $13.73 million to $12.56 million (-8.53%).
Messages left with Presque Isle Downs officials were not returned. The casino's decision to shut down iGaming played a significant role in its revenue decline, said Doug Harbach, a spokesman with the state Gaming Control Board.
"Presque Isle had already announced the elimination of its online sports wagering site (it ceased operation a month or so later)," Harbach said in an email. "And remember that online sports wagering constitutes 90% of the total sports wagering. So, many bettors had already moved to other sites that would continue operation in the future."
Pennsylvania casinos earned record-high gaming revenue in 2023
Other Pennsylvania casinos reported better revenue totals in 2023, as the Gaming Control Board reported record-high combined gaming revenue. Here are the statewide totals:
- Slots — $2.46 billion, up 3.05% from 2022
- Table games — $971.7 million, down 1.9% from 2022
- iGaming — $1.74 billion, up 27.66% from 2022
- Sports wagering — $458.6 million, up 14.3% from 2022
Another state Gaming Control Board report showed that Presque Isle Downs' revenues continued to decline in January.
The casino's total revenue was $5.98 million, compared to $8.36 million in January 2023 and $9.25 million in December 2023. The 28.54% January-to-January decline was the largest of any casino in Pennsylvania, according to the report.
Slot revenue dropped from $7.3 million in January 2023 to $5.55 million in January 2024, while table games revenue declined from $908,336 to $462,778. Sports wagering posted a loss of $37,437, compared to a deficit of $40,457 in January 2023.
Harbach said the Gaming Control Board saw reductions "across the board" for Pennsylvania's casinos due to winter storms, but casinos statewide still reported a 2.72% increase in total revenue for January 2024 compared to January 2023.
