Pennsylvania sports betting hits new highs in June as revenue jumps 80%
Keystone State regulator reports record $2.3bn total gaming tax revenue in fiscal year 2022/23
Pennsylvania’s total gambling revenue grew 13% year on year (YoY) in June to $440.5m, as the sports betting and igaming verticals both enjoyed double-digit percentage point increases.
The latest data from the Pennsylvania Gaming Control Board (PGCB) revealed sports wagering revenue of $23m, up 80.6% YoY from the $12.8m reported in June 2022.
The Keystone State’s igaming operators also enjoyed a strong June, with statewide revenue rising 31% YoY to $135.4m in the month.
Punctuating this increase was a 35.9% YoY increase in igaming slots revenue, which jumped to $98.2m in June, as well as a 24% increase in igaming table games revenue, which grew to $34.8m.
The state’s retail slots and retail table games market, while registering YoY growth, failed to match the growth shown by its online counterpart.
Statewide retail slots operators managed $201.5m in revenue during June, up 4.4% YoY, with retail table game operators achieving growth of less than 1%, rising from $76.1m in June 2022 to $76.2m this year.
Pennsylvania’s fantasy contests market continued its recent decline going into June, dropping 43.6% to just $848,591 in revenue.
Total tax revenue generated collectively through all forms of gaming and fantasy contests amounted to $183.7m during June 2023.
Drilling down into the individual numbers, six of the state’s 11 igaming operators reported double-digit percentage revenue growth YoY during June, with Harrah’s Philadelphia leading the way with growth of 82.2%.
Close behind was Parx Casino with 60% YoY revenue growth, ahead of Valley Forge Casino Resort (52%), and Wind Creek Bethlehem (47%).
Moving into sports betting, it was Harrah’s Philadelphia which again reported the biggest YoY revenue growth in percentage terms in June, with revenue rocketing 1,991%.
Hollywood Casino at The Meadows, Hollywood Casino Morgantown, and the Valley Forge Casino Resort all reported triple digit percentage revenue growth from sports betting during June, with growth of 211%, 160%, and 110% respectively.
In addition to publishing its numbers for June, the PGCB reported its total gambling market revenue of $5.5bn, up by $513m from the prior reporting period, for the fiscal year 2022/23.
Sports betting revenue for 2022/23 grew by 56% YoY to $491.9m, while igaming revenue jumped 24% over the same period to $1.5bn over the same period.
Retail slots revenue (up 1.7%) and table games revenue (down 4%) both failed to reach the same growth levels during 2022/23 with fantasy contest revenue dropping a 24% YoY.