November’s revenue total beat last year by 26.5% and is 13.3% above $496.6 million in Pennsylvania in October of this year. It surpasses the existing record of $554.6 million, set in March, by 1.4%, Pennsylvania Gaming Control Board (PGCB) data shows.
Aside from total market revenue, the stand-out figures from the PGCB data are in reference to sports betting.
Gross revenue reached a record $77.1 million, up 498.4% on last year — in November 2023, operators had a record-low 1.38% hold. The all-time revenue high was $72.5 million, set last December, with the November 2024 total beating this by 6.3%. Of this total, $71.7 million came from online betting and $5.4 million retail sportsbooks.
Betting handle in Pennsylvania also hit an all-time high of $935.5 million. Coincidentally, the previous record of $934.1 million was set in November 2023, with this year 0.2% ahead of this total.
Players spent $886.5 million wagering on sports online and a further $49.0 million at retail betting facilities across the state.
This resulted in a state-wide hold of 7.75% for November.
FanDuel remains the runaway leader in Pennsylvania
Turning to operators, FanDuel and partner Valley Forge Casino Resort continue to lead the market by some distance. For November, $36.8 million in gross revenue from $373.6 million in bets left a 9.85% hold.
DraftKings, which works with Hollywood Casino at the Meadows in Pennsylvania, remains in second place. The partnership heralded $21.5 million in gross revenue from $246.2 million in wagers, meaning an 8.73% hold.
BetMGM and Hollywood Casino Morgantown placed third with $4.5 million off $65.9 million for a 6.83% hold. ESPN Bet and Hollywood Casino at Penn National followed on $2.9 million from $43.8 million, leaving a 6.62% hold.
BetRivers and Rivers Casino Philadelphia were close behind on $2.8 million off $35.1 million and a 7.98% hold. Parx Casino and Kambi also surpassed $2.0 million in revenue, reporting $2.1 million from $21.1 million for a hold of 9.95%.
Igaming revenue reaches record $200.5 million
Accompanying a record sports betting performance was all-time high revenue from igaming in Pennsylvania. For November, gross revenue in this segment topped $200.5 million, up 26.9% and 4.9% clear of March’s existing record of $191.1 million.
Online slots accounted for $148.7 million of total igaming revenue, up 36.0% year-on-year. Internet table games revenue also increased 6.7% to $49.6 million but online poker revenue dipped 0.1% to $2.3 million.
Hollywood Casino at Penn National retains a clear lead in this segment with $74.4 million in igaming revenue. This includes $53.3 million in revenue from online slots, $20.6 million table games and $517,464 from poker.
Valley Forge Casino is still the closest challenger with $54.1 million in revenue for November. Rivers Casino Philadelphia rounds off the top three with igaming revenue of $34.7 million.
Land-based slots revenue up to $201.5 million
While igaming continues to grow in Pennsylvania, internet slots still have work to do to catch traditional, land-based slots. In November, revenue from physical slot machines hit $201.5 million, a year-on-year rise of 6.2%.
However, retail table games revenue declined 2.5% to $77.6 million. Video game terminals (VLT) revenue was 4.4% lower at $3.2 million and fantasy sports revenue fell 4.2% to $2.5 million.
As for tax, the state collected $232.8 million from all gambling activity during November. Of this, $101.5 million came from physical slot machines and $12.9 million land-based table games.
Original article: https://igamingbusiness.com/finance/sports-betting-igaming-pennsylvania-record-november/
