Pennsylvania reaps double-digit revenue uptick across sports betting and igaming in May
Keystone State regulator reports 7% total revenue growth but 11% decline in online poker revenue
Pennsylvania’s total gambling revenue rose 7% year on year (YoY) during May to $479.3m thanks to strong returns from igaming and sports betting, according to data from the Pennsylvania Gaming Control Board (PGCB).
In its latest update, the Keystone State regulatory authority confirmed sports wagering revenue of $41.1m, figures up 17.4% YoY with double-digit percentage revenue rises also reported across online slots and table games.
The state reported a 28.6% uptick in slots revenue, which jumped to $100.5m in May, while table games revenue rose 17.3% YoY to $37.8m over the same period.
The figures were in stark contrast to online poker revenue, which fell 11% YoY to just $2.5m in May, and fantasy contest revenue, which slumped by 22.5% to just $1.2m in the same month.
Pennsylvania’s land-based market suffered mixed fortunes during May, with retail slots revenue growing by 2.5% YoY to $210.8m, contrasting to retail table gaming and video gaming terminals revenue, which fell by 7.8% and 2.4% respectively.
Drilling down into the state’s igaming numbers, nine out of the 10 licensed igaming firms reported percentage growth in revenue during May, with Harrah’s Philadelphia Casino and the Wind Creek Casino in Bethlehem reporting particularly high double-digit revenue growth.
Harrah’s Philadelphia Casino replicated its strong performance in igaming revenue with an equally strong showing in respect of sports betting, reporting revenue growth of a whopping 1,465% YoY and May revenue of $669,523.
The Mohegan Sun Lehigh Valley, Hollywood Casino York, Parx Malvern and Hollywood Casino Morgantown sportsbooks all also reported strong revenue growth across sports betting, particularly the Mohegan Sun Lehigh Valley, which saw a 357% revenue increase during May.
The statewide slump in fantasy contest revenue was mirrored at an operator level in Pennsylvania, with DFS stalwarts DraftKings and FanDuel both reporting declining revenue during May.
Underdog Sports and Fantasy Sports Games LLC (FSG) were the only DFS players to report revenue growth in May with 61% revenue growth to $35,759 and 10% revenue growth to $1,106, respectively.
Total tax revenue generated through all forms of gaming and fantasy contests amounted to $197.9m in May.