Retail Casinos Just Saw Best Month Ever In PA, But Can They Sustain It?
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July was the best month for Pennsylvania's casinos. They made a record $309.8 million on slots and table games. Live! casinos in Philadelphia and Westmoreland County made $31.7 million. The 12 casinos open in July 2021 as July 2019 reaped $278.1 million last month. That's a 0.6% increase from two years ago. The state's gaming industry is booming due to the growth of iGaming and sports betting.
There are 15 casinos in Pennsylvania now. The AGA reports that 17 of 25 states with casinos experienced a revenue increase between April-June 2019 and April/June 2021. AGA president/CEO Bill Miller says the U.S. gaming industry has fought back from its lowest point one year ago. The industry is on pace to surpass 2019 as the highest-grossing year in commercial gaming history. Pennsylvania will help establish that national record due to its online gaming vastly exceeding revenue of prior years. It joins Maine, Kansas, Illinois, West Virginia, New Jersey, Michigan, and Rhode Island as states where traditional slots-tables revenue trailed second quarter levels of two years ago, according to AGA.
July's revenue of $88.7 million collected by 17 iCasinos in Pennsylvania was about on par with the monthly average of $89. 7 million in 2021. May's record iGaming revenue was $101.3 million.
The return to 2019 levels was not consistent across the board for all casinos. Only five casinos saw increases between July 2019 and July 2021: Mount Airy Casino Resort, Parx, Mohegan Sun Pocono, Presque Isle Downs & Casino and Rivers Pittsburgh.
Valley Forge Casino Resort, Hollywood Casino, Wind Creek Bethlehem, Rivers Philadelphia, Meadows Racetrack & Casino and Harrah's Philadelphia saw revenue drops between Julys.
July was the best month ever in Pennsylvania. New casinos opened in the past nine months. The revenue report suggests that the newcomers are helping boost overall revenue. There is no revenue for Hollywood Casino York. There was already considerable competition among other operators in Philadelphia and Pittsburgh. It is not certain whether the Delta variant of COVID will limit casino operations again. If it does, it could limit caseloads again if casels worsen. In July, the four casinos with Live! generated $63 million in revenue, a 13.2% increase over the $55.6 million without Live!.
