Second Coronavirus Shutdown Sends PA Online Casino Revenue Soaring
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2020 was a year of constant growth for the Pennsylvania online casino market. The market was only six months old to start the year and hadn't yet reached maturity.
Total revenue for Pennsylvania online casinos and poker rooms in December amounted to $71.6 million. This is a nearly sevenfold increase over $10.5 million in the final month of 2019. There are four major reasons for the growth: New market growth, expansion of sports betting in US, PokerStars and FanDuel launching in PA in late 2019 or early 2020, and a second casino shutdown starting Dec. 12 and extending into the new year.
Second Coronavirus Shutdown Sends PA Online Casino Revenue Soaring. PokerStars and FanDuel launched in PA in late 2019 or early 2020 and were getting up to speed in the first half of the year.
Second Coronavirus Shutdown Sends PA Online Casino Revenue Soaring. Every active operator at least doubled its revenue from February to May. In December, Penn National accounted for the bulk of the increase. All other competitors saw smaller gains or even a decrease in revenue. iGaming markets like New Jersey, internationally and even in other sectors entirely increased.
Combined monthly revenue for online casinos and poker hit a record high of $71,609,260. Table games are becoming more popular. Pennsylvania's new market leader is Penn National, followed by Rivers Philadelphia and Valley Forge. Newer operator Wind Creek saw bigger proportional gains than Penn. It launched its online sportsbook in November and began two new casino promotions in December. Coin in for Wind's slots rose 72% and its table games multiplied activity by a factor of almost 18.
The monthly revenue for online casinos and poker in Pennsylvania hit a record high of $71,609,260. Table games are becoming more important in the gambling industry. Pennsylvania National has become the market leader.
Revenue from online casinos increased by 20% and online poker by 13%. The first casino shutdown in Pennsylvania was shorter than the second one. PokerStars has no competition. BetMGM is preparing to roll out its poker product in states besides New Jersey. The poker market should jump. When that happens, the poker figures will be less meaningful.
Second Coronavirus Shutdown Sends PA Online Casino Revenue Soaring.
There was a virus that closed down casinos in Pennsylvania for half of December. Retail sports betting in the state took a nosedive, but the overall revenue barely changed. Online sports betters posted a small increase, from $42.3 million to $44.2 million. The handle rose to a whopping $549 million as the NBA season got underway and the NFL approached the playoffs.
