Total revenue for October was ahead of $483.0 million during the same month last year. However, data from the Pennsylvania Gaming Control Board shows a 1.8% drop from $505.9m million in September.
Igaming revenue hits $189.1 million in October
Igaming was undoubtedly the leading segment in October, with revenue up 22.1% year-on-year to $189.1 million. This was just 1.1% shy of March’s $191.1 million monthly record.
Breaking down this market, online slots generated $140.9 million in gross revenue, up 28.3% from last year. Internet table games revenue also increased 7.8% to $45.9 million, though online poker revenue slipped 5.9% to $2.2 million.
Hollywood Casino at Penn National Race Course continues to lead the igaming market. For October, it took $69.5 million in revenue, up 11.6% from last year.
Valley Forge Casino remains second with total igaming revenue of $51.9 million, a year-on-year rise of 46.6%. Rivers Casino Philadelphia took third with $33.3 million, up 13.5%.
Sports betting revenue slump despite higher handle
Turning now to the sports betting market, the situation was quite different. Gross revenue in October fell 43.2% year-on-year to $27.4 million, with $25.4 million from online wagering and $1.9 million retail.
This decline came despite a 3.5% increase in the amount spent by players to $858.1m during the month.
As such, state-wide hold for October was 3.19%.
FanDuel and partner Valley Forge Casino Resort remain the frontrunners in this market with $17.3 million in combined gross online and retail revenue. Having taken $348.6 million in bets, this left a monthly hold of 4.96%.
DraftKings and Hollywood Casino at the Meadows placed second with $5.9 million in gross revenue off $225.0 million for a 2.62% hold. Third was Caesars and Harrah’s with $961,995 from $26.7 million, leaving a 3.61% hold.
Elsewhere, Parx Casino and Kambi took $888,251 off a $20.2 million handle for a 4.39% hold. BetMGM and Hollywood Casino Morgantown saw revenue of $721,914 from $63.8 million, leaving a hold of just 1.13%.
Other stand-out performers include FanDuel and Live! Casino Philadelphia with $567,904 off $7.0 million for an 8.23% hold. BetRivers and Rivers Casino took $511,669 from $14.5 million for 3.5%. ESPN Bet and partner Hollywood Casino York saw revenue hit $405,180 from $40.3 million, resulting in a 1.01% hold.
Physical slots still king in Pennsylvania
Despite ongoing igaming growth, retail slot machines remain the primary source of revenue in Pennsylvania. For October, revenue here hit $200.6 million, up 4.2% from last year.
Retail table games revenue, however, dipped 9.3% to $73.9 million, though video game terminal (VLT) revenue edged up 4.4% to $3.6 million for the month. Fantasy sports, the other gambling revenue in stream in Pennsylvania, fell 20.8% to $2.1 million.
In terms of tax, the total collected from gambling during October was $209.2 million. Of this, $83.7 million came from igaming, $9.9 million sports betting, $101.1 million retail slots, $12.3 million table games, $1.8 million VLTs and $315,289 fantasy sports.
Original article: https://igamingbusiness.com/finance/pennsylvania-gambling-revenue-october/
