Pennsylvania gambling revenue reaches new record in March

In March, Pennsylvania achieved a remarkable milestone in its gambling landscape, amassing a record revenue of $574.5 million (£429.7 million/€499.7 million). This figure not only represents a 3.6% increase year-on-year but also marks a 20.4% leap from February’s total, even amidst declines observed in sports betting and brick-and-mortar casinos. The Pennsylvania Gaming Control Board (PGCB) released these impressive monthly statistics on April 21.

Pennsylvania Achieves New iGaming Revenue Record

iGaming has continued its streak as the standout performer in Pennsylvania’s gambling sector, generating an impressive $238.2 million in revenue—an increase of 24.7% from March 2024. This growth highlights the ongoing shift towards online gaming platforms, which have become immensely popular among players.

Online slot games dominated this record revenue, contributing $179.5 million and showcasing a robust year-on-year increase of 32.5%. Meanwhile, internet table games also saw a positive trend, climbing 5.8% to reach $56.2 million. Online poker, albeit with a smaller share, still recorded growth, improving 3.3% to generate $2.6 million.

Hollywood Casino at Penn National Race Course emerged as the leader in the online gaming sphere, amassing a total of $90.7 million across slots, table games, and poker in March. Following closely was Valley Forge Casino Resort, which generated $64.8 million, while Rivers Casino Philadelphia took third place with $38.6 million.

Decline in Sports Betting Revenue Despite Increased Handle

Shifting our focus to sports betting, the revenue for March witnessed a significant 40.7% decline year-on-year, totaling $27 million. The online sector accounted for the majority of this at $25.6 million, while retail betting generated $1.5 million.

Handle-wise, bettors wagered a substantial $842.9 million statewide, signaling a 5.3% rise from March last year. Online wagering made up the bulk of this figure with $806.3 million, in contrast to the $36.6 million contributed by retail betting, resulting in a modest statewide hold of 3.2%.

Notably, FanDuel and Valley Forge Casino Resort maintained their position at the forefront of sports betting in the state. Their partnership yielded $9.4 million in revenue, derived from a $328.6 million handle, resulting in a hold of 2.86%. DraftKings, in conjunction with Hollywood Casino at the Meadows, recorded $8.8 million from their $209.2 million handle, achieving a hold of 4.21%.

Other notable performers included BetMGM and Hollywood Casino Morgantown, earning $1.9 million from an $78.2 million handle (hold of 2.43%), while Hollywood Casino at Penn National and ESPN Bet reported $1.5 million from $35.1 million (4.27% hold). Rivers Casino Pittsburgh’s BetRivers sportsbook generated $1.2 million from $26.3 million, culminating in a 4.56% hold, and Parx Casino brought in $1.1 million from $15.7 million for a hold of 7.01%.

Adding to the competitive landscape, Fanatics Sportsbook, partnered with Hollywood Casino York, was the only other operator exceeding $1 million in revenue, achieving $1.1 million from a $58.9 million handle (1.9% hold).

Continued Decline in Land-Based Gambling

The land-based gambling segment in Pennsylvania has not escaped the downward trend, continuing to experience declines across various categories. Retail slots remain the primary source of gambling revenue, bringing in $222.5 million, albeit down 2.4% from the previous year. Similarly, revenue from table games fell 3.9% to $81.9 million.

In the realm of video game terminals (VGT), revenue decreased slightly by 0.6% to $3.7 million. Conversely, daily fantasy sports did witness a rise, increasing by 6.9% to reach $1.2 million, indicating a shift in consumer preferences within the gaming offerings.

On the taxation front, Pennsylvania accrued $244.3 million from all gambling activities in March. A considerable share, $106.3 million, stemmed from iGaming. Sports betting taxes amounted to over $9.7 million, alongside $112.5 million from retail slots and $13.7 million from land-based table games. Additionally, VGT taxes stood at $1.9 million, whereas daily fantasy sports contributed $117,044 to the state coffers.

This comprehensive overview highlights the dynamic landscape of gambling in Pennsylvania, underscoring the pivotal role of iGaming amidst challenges faced by traditional gambling avenues. As trends continue to evolve, operators and stakeholders within the industry must remain adaptable to capitalize on emerging opportunities and shifts in consumer behavior.