The Pennsylvania Gaming Control Board has reported gaming revenue results for October. During the last month, the combined revenue general from all forms of gaming amounted to $450.2 million, an increase of 5.7% compared to last year’s October. The increase was driven by a record-setting performance of online casino gaming in the Keystone State.
Sources of gaming revenue regulated by the PGCB include slot machines, table games, iGaming, sports wagering, fantasy contests and video gaming terminals (VGTs). Total tax revenue generated collectively through all forms of gaming in October was $183.7 million.
As for gaming properties, Hollywood Casino at Penn National placed first with $68.7 million in total revenue, up 20.4%; followed by Valley Forge Casino Resort at $56.5 million (+31.7%) and Parx Casino with $54.9 million (down by 4.2%). Rivers Casino Philadelphia with $49 million in gross gaming revenue and Wind Creek Bethlehem at $43.8 million round out the top five.
The top 10 gaming venues ranking by gross gaming revenue is completed by Rivers Casino Pittsburgh ($31.7 million), Hollywood Casino at the Meadows ($23.2 million), Live! Casino Philadelphia ($23 million), Mount Airy Casino Resort ($21 million), and Mohegan Pennsylvania ($19.8 million).
Valley Forge Casino, October's second top-grossing venue
The Board has also provided a synopsis of revenue year-over-year by types of games. October’s gross revenue from slot machines was $199 million, a slight 2.1% decrease in revenue when compared to the same month in 2021. It should be noted that the number of slot machines in operation in October 2022 was 25,497, less than 25,717 last year.
Tax revenue from the play of slots machines was $101.3 million. Parx Casino placed first for the vertical, with $32 million in slots revenue, although that figure was down by almost 5%. The property was followed by Wind Creek Bethlehem ($22.3 million) and Rivers Casino Pittsburgh ($21.7 million), with the two properties also posting decreases.
Table games revenue for October 2022 was $79.8 million, a decrease of 10.4% from October 2021, when revenue was $89 million. Total tax revenue from table games play during the month was $12.9 million. Wind Creek Bethlehem led this segment at $19.7 million, despite a 9% drop, followed by Parx Casino at $17 million. Live! Casino Philadelphia was the only property posting a year-on-year increase, with revenue here hiking 18.4% to $8.8 million.
Unlike the previous two segments, online casino gaming posted an increase, up by 21% to $124.5 million, setting a new record for the state. October’s total was the highest monthly amount of revenue to date eclipsing the $118.1 million posted in March 2022. Tax revenue generated from iGaming during October was also the highest amount to date at $52.7 million. Hollywood Casino at Penn National led the segment at $52.7 million.
Sports wagering was also up in October, with total handle at $797.1 million, a 2.69% increase over the October 2021 total of $776.3 million. Valley Forge Casino Resort dominated this vertical, posting $22.1 million in revenue from $292 million in handle. Hollywood Casino at the Meadows followed with $231.1 million in handle, but about a third of revenue, at $7.8 million.
Total revenue for video gaming terminals (VGTs) was $3.5 million, or 5.16% higher than October 2021. Lastly, fantasy contests posted revenue of $2.8 million in October 2022, a decrease of 25% over the same month last year.
It’s been a few busy days for Pennsylvania’s regulator. In addition to renewing Valley Forge Casino’s license for an additional 5-year period, the Board has also launched a new campaign aimed at preventing children from being left unattended while an adult supervisor gambles in a casino. The “Don’t Gamble with Kids” campaign was spurred by concerns over the number of minors being left in parking lots or in hotel rooms attached to or near a Pennsylvania casino.
Original article: https://www.yogonet.com/international/news/2022/11/18/65093-pennsylvania-gaming-revenue-for-october-up-by-almost-6—driven-by-record-online-casino-performance
