BUSINESS

Pennsylvania gambling revenue soars on betting, online gains

TAGs: Pennsylvania, sports betting

pennsylvania-gambling-sports-betting-revenue-recordPennsylvania’s gambling market enjoyed double-digit growth in November thanks in part to its growing online gambling and sports betting verticals.

Figures released Tuesday by the Pennsylvania Gaming Control Board (PGCB) show statewide gaming revenue topping $292m in November, up 13.2% from the same month last year.

The state’s sports betting operators reported a new record for betting handle of $316.5m, up 31.2% from October’s total, while betting revenue came in slightly below October’s figure at $14.7m. Digital wagering channels accounted for over 84% of overall handle, about two points higher than in October.

Valley Forge Casino Resort and its FanDuel betting partner once again claimed the lion’s share (56%) of online handle with $149.7m, with two Rush Street Gaming properties – Rivers Philadelphia ($32.4m) and Rivers Pittsburgh ($30.6m) – well back in second and third place.

Pennsylvania’s betting market welcomed two new online additions in November courtesy of DraftKings (partnered with The Meadows casino) and Kindred Group’s Unibet (partnered with Mohegan Sun Pocono). Meadows ranked fifth on November’s chart with over $18m while Pocono placed seventh with just $4.3m.

The Mount Airy Casino Resort and its Fox Bet partner has yet to make much of an impression in Pennsylvania, as its market ranking slipped one place to sixth despite its revenue rising nearly 40% from October to nearly $14.4m.

ONLINE GAMBLING
The state’s five licensed online gambling operators reported total revenue of $9.65m, nearly twice October’s sum, thanks to the November launch of two additional sites. Online slots revenue came in at $5.1m, table games brought in $2.6m while the state’s lone online poker site – The Stars Group’s PokerStars – brought in just under $2m in its first full month of operations.

Pennsylvania’s poker total is significantly greater as a percentage of the overall online figure than is the case across the border in New Jersey, where poker hit a record low revenue figure in November. It’s worth noting that New Jersey’s online poker market also charged out of the gate when the market launched in 2013, only to slip to its current also-ran status.

LAND-BASED SLOTS & TABLES
As for those legacy land-based gaming verticals, slots revenue was up 3.4% to $189.3m while table game revenue improved 4.8% to $74.7m.

In terms of overall revenue, Parx Casino ruled supreme with just under $54.3m, up 12.6% year-on-year. Runner-up Wind Creek Bethlehem (formerly Sands Bethlehem) was down 0.5% to $40.1m while Rivers Pittsburgh placed third with $33.4m (+14.5%).

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