Revenue for September was $505.9m (£387.9m/€466.5m), according to the Pennsylvania Gaming Control Board (PGCB). This surpasses last year’s total but falls 3.7% short of August this year.
Sports betting was the segment of most growth for Pennsylvania, with adjusted gross revenue rising 46.1% year-on-year to $53.5m. Of this, $47.2m came from online betting and $6.3m wagering via retail sportsbooks across the state.
In terms of player spending, monthly handle reached $811.3m, some 11.7% more than in the same month last year. This resulted in a state-wide hold on taxable revenue of 6.59% for September.
Focusing on operators, FanDuel and partner Valley Forge Casino Resort remain the runaway leaders in Pennsylvania. Revenue for the month reached $27.4m off $320.5m in bets, leaving an 8.55% hold.
DraftKings and Hollywood Casino at the Meadows remain second with revenue of $13.1m from a $237.2m handle. This translates to a hold on taxable revenue of 5.52% for September. BetMGM and Hollywood Casino Morgantown lagged some way behind in third with $2.5m off $53.5m for a 4.67% hold.
Pennsylvania sees igaming growth despite poker struggles
Turning attention to igaming, revenue for September was $176.7m, an increase of 10.8% from last year. However, it falls short of the record $183.7m reported in August.
Of this total, $132.0m came from online slots, up 15.1% year-on-year and the second single largest source of revenue in Pennsylvania. Internet table games revenue also increased by 0.2% to $42.4m, though poker revenue dipped 7.2% to $2.2m.
Hollywood Casino at Penn National Race Course remains the runaway leader here with $66.9m in revenue. This is 3.2% ahead of the previous year.
Valley Forge Casino made up some ground, reporting $47.1m for a 33.0% increase. Rivers Casino Philadelphia placed third with revenue of $31.5m, up 7.7% year-on-year.
Decline continues in land-based market
In contrast to igaming growth were further declines in the Pennsylvania land-based sector.
Slots revenue dipped 1.5% to $197.7m but remains the core source of revenue in the state by some margin. Physical table games revenue was also 2.3% lower at $73.5m.
However, video gaming terminals revenue edged up 3.6% to $3.4m in September. Finally, fantasy sports revenue fell 4.8% to $1.9m.
Original article: https://igamingbusiness.com/finance/pennsylvania-sports-betting-igaming-september/
