Gambling revenue in Pennsylvania amounted to $456.8 million in February, according to data shared Friday by the state’s Gaming Control Board. The combined win generated from all forms of gaming, along with fantasy contests, was up by 21.6% from the revenue generated the same month last year and just 1.6% shy of the $464.4m generated in January of this year.
The almost $457 million in revenue includes casinos, iGaming, sports betting, fantasy contests and VGTs. Hollywood Casino at Penn National placed first among all land-based properties with $72.6 million in revenue (up 21.9%), followed by Valley Forge Casino Resort, which almost doubled in revenue from last year to $61.4 million. Parx Casino ($54.5 million), Rivers Casino Philadelphia ($47.5 million) and Wind Creek Bethlehem ($39.7 million) round out the top five.
As for revenue per vertical, retail slots took the lion’s share at $202.8 million, up 4.2%, with Parx Casino leading the segment at $30.7 million despite being almost 10% down from February 2022. Table gaming revenues amounted to $74.5 million statewide, basically flat from last year and with Parx Casino also leading this segment at $17 million (up 8.3%).
iGaming saw a major revenue jump of 28.5% to $131.6 million, with Hollywood Casino at Penn National being the top operator at $56.5 million (up 32.4%). Total sports wagering handle amounted to $599.5 million, almost flat from the prior year, but at the same time, the taxable revenue figure was $43.2 million, compared to a negative -$442,847 in February 2022. Valley Forge Casino Resort led the segment at $235.2 million in handle and $23.4 million in revenue.
Valley Forge Casino
As for other sources of revenue, video gaming terminal revenue for the month was 9.3% higher at $3.3 million, but fantasy sports revenue slipped 16.3% to $1.3 million. This was the only area of the market along with online poker, which slipped 7.8% to $2.7 million, to experience a year-on-year decline.
February’s increase in revenue follows a continued upward trend that began in January, when gambling revenue increased by 18.2% year-over-year. It also builds upon a record-setting 2022 for the Pennsylvania gambling industry, when all forms of gaming amounted to more than $5.2 billion, up from the 2021 total of $4.7 billion.
Original article: https://www.yogonet.com/international/news/2023/03/21/66539-pennsylvania-gaming-sees-216-revenue-jump-to-457m-in-february-driven-by-igaming-and-sports-betting
