Pennsylvania’s gaming industry saw growth in June, with total revenues reaching nearly $472 million, a 7.15% increase compared to the same month last year, as per data from the Pennsylvania Gaming Control Board (PGCB). This surge in revenue generated $198 million in tax income for the state during the month.
Although most verticals were up last month, two segments helped drive this revenue spike: iGaming and sports betting. iGaming showed a notable performance, with online slots generating $119.4 million, a 21.6% increase from the $98.2 million earned in June 2023. Online table games also saw a rise, bringing in $39 million compared to last year’s $34.8 million.
Sports betting similarly experienced a boost. The state’s sportsbooks amassed $29.9 million in revenue from a handle of $464.5 million. This marked a 29.6% increase from the $23.1 million recorded in June 2023. Online sportsbooks dominated, contributing $28.5 million, or 95.2%, of the total sports betting revenue.
Overall, Hollywood Casino at Penn National maintained its position as the top revenue-generating casino in the state, with total earnings of $74.1 million for June. However, it was Valley Forge Casino Resort that exhibited the biggest jump, with its revenue soaring by 24.8% year-over-year, reaching $63.9 million and surpassing Parx Casino for the second spot.
While most casinos reported gains, six out of the eighteen properties that operated last June experienced revenue drops. The most notable decline was at Mohegan Pennsylvania, which saw a 12.5% decrease in revenue, totaling $17.26 million for the month.
Online poker struggled in June, with revenues falling by 9.3% to $2.2 million. In contrast to that decline, fantasy sports contests provided a bright spot, generating $966,589, up 13.9% from the previous year.
The PGCB’s report offered a detailed breakdown of gaming revenue across different categories:
- Retail slots: $200.97 million, a slight decrease of 0.29% from last year
- iGaming slots: $119.42 million, up 21.6%
- Retail table games: $76.07 million, down 0.17%
- iGaming table games: $39 million, up 12.09%
- Sports wagering: $29.89 million, up 29.63%
- Video gaming terminals: $3.44 million, up 1.52%
- Fantasy contests: $966,589, up 13.91%
Pennsylvania currently stands as the second-largest commercial gaming market in the US. According to the American Gaming Association, in May 2024, the state generated $521 million in gaming revenue, behind Nevada’s $1.32 billion and ahead of New Jersey’s $510 million.
Original article: https://www.yogonet.com/international/noticias/2024/07/22/73219-pennsylvania-gaming-revenue-surges-to-472-million-in-june-igaming-and-sports-betting-drive-growth
