Pennsylvania sports betting revenue rebounds in October amid continued igaming growth
Keystone State regulator reports 7% YOY increase in total gaming revenue as online sector retains leadership position over land-based operators
Sports betting revenue in Pennsylvania grew by 19% year on year (YOY) in October to $48.1m, returning to growth after a two-month decline, according to latest data from the Pennsylvania Gaming Control Board (PGCB).
Revenue from igaming slots continued its recent surge in October, rising 27% YOY to $109.8m, while igaming table games revenue also grew by double-digits in percentage terms, surging 19% YOY to $42.6m over the same period.
In its report for the month, the PGCB reported a total revenue figure from all forms of gaming of $483m, up 7.3% from that reported in October 2022.
Revenue from online poker fell by 6% in October to just $2.3m, a loss echoed by Pennsylvania’s fantasy contest revenue, which slumped 4% YOY to $2.6m over the same period.
Retail slots games revenue dropped by 3% YOY to $192.5m in October, however, retail table game revenue bucked the trend with a 2% uptick in revenue to $81.4m.
State authorities collected $196.9m in taxes from state-licensed gambling operators in October.
In respect of igaming, Harrah’s Philadelphia/Caesars notched up an impressive 136% YOY revenue growth during October, with its revenue amounting to $8m for the month.
The Valley Forge Casino Resort and its online partner FanDuel saw 51% YOY revenue growth in igaming over the same period to $35.4m.
Live! Casino Philadelphia and the Hollywood Casino at the Penn National Race Course also reported double-digit YOY percentage revenue increases in October, rising by 32% and 18%, respectively, during the month.
In respect of sports betting, the Hollywood Casino at the Meadows reported the biggest YOY revenue growth in October, with Meadows revenue jumping 142% to $18.9m.
Mohegan Pennsylvania and Parx Casino took home the silver and bronze medals when it came to sports betting revenue growth during October, reporting 122% and 68% YOY percentage revenue growth, respectively.
In respect of DFS contests, Fantasy Football Players Championship was the big winner during October, reporting 59% YOY revenue growth, ahead of Underdog Fantasy with 53%, and DraftKings, which reported a 15% YOY revenue uptick over the same period.