It’s a good time to be a Pennsylvania online casino player or license holder. The number of options for gamblers in the commonwealth has never been greater and at the same time, it’s never been more lucrative to be in the business.
Revenues from online slots and table games hit a new high in March of this year just prior to several new brands going live in PA. It’s more proof that a competitive marketplace works best for everyone involved.
Pennsylvania online casino update on new operators
Over the last month, online casino players in PA have had the chance to try two new operators. Stardust Casino went live in mid-April. The Boyd Gaming brand operates in PA under Valley Forge Casino‘s license.
It’s a re-design of the old Betfair Casino product. The aesthetic elements are an homage to the old casino that shared the name in Las Vegas. It wasn’t the newest joint on “the strip” of PA online casinos for long, though.
Earlier this month, Barstool Casino welcomed players in PA as well. Hollywood Casino Grantville, which Penn National Gaming owns, lent the necessary skin. That brought the total number of options in the category to 16. That segment of the industry isn’t the only one to expand recently, however.
In late April, BetMGM Poker and Borgata Poker did a simultaneous PA launch. The former also has a skin from Hollywood Casino Grantville while the latter is in league with Rivers Casino Philadelphia. They share a player pool and bring the total number of online poker choices in PA to three.
For users, these additions provide new games, ways to participate in rewards programs, and welcome bonuses. It’s a perfect time for the new operators to get into PA as well. Whatever the industry is doing, it’s working.
March revenue reaches record high
With fewer operators than now exist, the summation of adjusted gross revenue (AGR) from iGaming in PA in March of this year nearly hit $100 million. The $95.3 million figure is a record for the state. Slot revenue was the largest contributor, accounting for a month-over-month increase of almost 32% compared to February 2021.
With the new brands, the first $100 million month seems more possible now. Looking at Gross Gaming Revenue (GGR), PA has already surpassed $100 million twice – in Dec. 2020 and March 2021. (See iGaming GGR chart since Jan. 2019).
An increase for online poker might be more likely as well. In March, revenue dipped slightly to $2.4 million. However, PokerStars PA was the only option at that time.
BetMGM and Borgata poker both entered the market with a set of new welcome bonuses and freeroll games, incentivizing poker players who may have grown weary of PokerStars‘ offerings to buy into games again. All three PA operators also offer online poker in Michigan, so if the two states can get a compact done, that segment could be on a serious upward trajectory.
All in all, the online casino industry in PA has never been healthier. As licensees’ skins continue to get distributed, we’ll get a fuller look at what the business will be worth at its maturity.
Lead image via Dreamstime.