Pennsylvania iGaming revenue reaches record $184.9m in February
Pennsylvania iGaming revenue reaches record $184.9m in February
The state of Pennsylvania has raked in a record iGaming revenue for the month of February to the tune of $ 184.9m.
The Keystone State did however map year-on-year declines in all the other markets involving staking in sports betting markets.
Pennsylvanian iGaming record profit
The report from the Pennsylvanian Gaming Control Board (PGCB) reports a 9% overall increase in total gaming from February 2023 to 2024. This figure would sit at an impressive $ 499,093,210 overall for the haul from games of chance across the year.
The returns from retail slot machines was “$ 202,742,794, a 0.04% decrease in revenue when compared to the $ 202,822,213 generated in February 2023,” according to the report. This shows a small dip in contrast to the previous year, but retail slots remain the largest source of iGaming revenue for the state.
IGaming slot revenue saw a significant 35.6% jump from $ 92m to $ 125.9m, and internet table games more than doubled with from $ 36m to $ 56.6m, a 56.7% increase.
Online poker seen an 8.3% revenue decline to $ 2.4m, the only major negative report alongside the sports wagering figures.
Hollywood Casino at Penn National Race Course led the pack of operators with a 36.8% year-on-year increase in iGaming coming in at $ 77.3m, with Valley Forge Casino Resort the next in line with $ 44.8m, taking home the bronze was Rivers Casino Philadelphia on $ 29.3m for the year.
Pennsylvania would also see a 30% decline in taxable sports wagering revenue, which would also mark a year-on-year decline. This was despite an increase in annual revenue which the report would highlight as “$ 661,740,812 or 10.38% above the February 2023 total of $ 599,529,429.”
Valley Forge Casino would be the standout across the year for the Keystone State with annual revenue of $ 17.7m with Hollywood Casino at the Meadows trailing behind on $ 7.6m. The Fantasy Contest revenue market would see a 5% decline from 2023’s watermark and Video Gaming Terminals (VGT) in the state would see a marginal dip by 2.4%.
The report would say of the VGT’s that “By the end of February 2024, all VGT Operators offered the maximum permitted five machines at 72 qualified truck stop establishments, compared to five machines at 66 establishments at this time last year.”
The PGCB is currently promoting gambling awareness month for the state and took to X to promote their activity to tackle problem gambling:
PGCB Program Analyst Jack Gallick (3rd from left) and Office of Compulsive and Problem Gambling Director Liz Lanza (4th from left) joined other professionals in the capitol in Harrisburg today to promote Problem Gambling Awareness Month. pic.twitter.com/iHBmKuoyAE
— PGCB (@PAGamingControl) March 18, 2024
Image: Pexels.
The post Pennsylvania iGaming revenue reaches record $ 184.9m in February appeared first on ReadWrite.
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