Total gambling revenue in February amounted to $499.1m. This was 9.3% ahead of $456.8m in Pennsylvania last year but 1.6% behind $464.4m in January this year.
Retail slots remain the largest source of revenue in the Keystone State, generating $202.7m, only marginally lower year-on-year. This was despite a decline in the total number of slot machines from 25,708 to 24,962.
Elsewhere in the retail sector, revenue from land-based table games increased by 2.9% to $76.6m.
Online slots and table games growth in February
Turning to the Pennsylvania online market and total igaming revenue was 40.5% higher at $184.9m, compared to $131.6m in 2023.
Online slots revenue jumped 35.6% to $125.9m, while internet table games revenue hiked 56.7% to $56.6m. There was, however, a slight decline in online poker revenue, with this falling 8.3% to $2.4m.
Breaking down the online sector further, Hollywood Casino at Penn National Race Course remains the market leader by some distance. In February, it reported $77.3m in igaming revenue, up 36.8% year-on-year.
Valley Forge Casino Resort placed second with $44.8m, an increase of 63.0%. Following in third was Rivers Casino Philadelphia on $29.3m, which is 11.4% ahead of last year’s total.
Sports betting revenue drops 30.0% despite handle increase
Looking to the sports betting market and the situation was quite different.
Total revenue in this sector declined 30.0% year-on-year to $30.3m in February. Online betting generated $28.2m in monthly revenue, while retail wagering drew in $2.1m.
The revenue drop was despite total handle in Pennsylvania climbing 10.4% from $599.5m to $661.7m.
Valley Forge Casino Resort, along with partner FanDuel, remains the runaway leader in this market. During February, the partnership generated $17.7m in sports betting revenue.
Hollywood Casino at the Meadows and DraftKings were again second on $7.7m. Its sister property, Hollywood Casino Morgantown, which is partnered with BetMGM, placed third with $1.2m for the month.
As for other gambling activity in Pennsylvania, video lottery terminal revenue declined 2.4% to $3.2m. In addition, fantasy sports revenue slipped 5.2% to $1.3m for the month.
Original article: https://igamingbusiness.com/finance/pennsylvania-igaming-revenue-reaches-record-in-february/
