Gaming in Pennsylvania continues to recover from the worst of the pandemic. In fact, it is still growing like gangbusters, October revenue numbers released by the Pennsylvania Gaming Control Board (PGCB) show.
October was a month of revenue records, for sports betting and online casinos.
PA gaming revenue has a record-setting October
PA crossed into the $1 billion stratosphere for iGaming revenue in a single year. And it did it the same month that New Jersey accomplished the same feat.
Sports wagering handle last month was staggering, nearly $776.3 million. That’s the highest to date. That easily beats the former record of $615.3 million total set in January 2021 by an impressive $161.1 million.
Total gaming and fantasy revenue (AGR) last month was $425.9 million, an increase of 33% compared to revenue in October 2020 when it was $320.2 million. The figure from this October is an all-time monthly revenue high.
Keep in mind there were more than 9,100 fewer retail slots in operation a year ago.
Retail table games set a record of just more than $89 million, a 41% increase year-over-year. That was also the single highest month ever, besting the July 2021 figure of $86.9 million.
Performance, however, remained uneven from property to property. That was especially so in the online casino segment with one big winner – Hollywood at Penn National and its affiliated brands – and three clear losers.
We take a closer look at the key numbers for continuing strong online casino performance and record-setting sports betting numbers.
Online casinos set new record, surpass $1B yearly revenue
Casino games available online generated gross revenue of $117 million during October 2021, increasing 58.7% compared to October 2020, when revenue was $73.7 million.
That’s a new high.
The tax revenue generated from internet casino play in October was $43.3 million.
So far this year, iGaming has generated just over $1 billion in revenue and $1.8 billion over its lifetime.
There are some clear winners and losers here, with the top three operators (making up 9 of 17 online brands) making up around 80% of market share.
|Licensee||Online Brand(s)||Total Revenue||Slots Revenue||Table Games Revenue||Poker Revenue|
|Hollywood Penn National||Hollywood | DraftKings | BetMGM | Barstool||$44,444,677||$30,388,315||$13,753,252||$303,110|
|Rivers Philadelphia||SugarHouse | BetRivers | Borgata||$31,025,369||$27,509,521||$3,407,780||$108,068|
|Valley Forge||FanDuel | Stardust||$19,570,740||$11,441,383||$8,129,357||$0|
|Mohegan Sun Pocono||Unibet||$2,446,901||$1,991,867||$455,034||$0|
|Wind Creek||Wind Creek||$1,861,652||$1,669,670||$191,982||$0|
|Live Philadelphia||PlayLive | Betway||$1,156,567||$948,356||$208,211||$0|
Sports betting revenue sets new high
Helped by five NFL weekends and the start of NBA season, PA had its best-ever month for handle three years into legal sports betting. Also, with about half of all sports betting revenue and handle in PA coming in 2021, the segment is still gaining steam.
Sports revenue so far this year is more than $382.6 million with lifetime revenue at nearly $766.8 million.
Valley Forge Casino Resort, allied with FanDuel Sportsbook, had a total handle of $275.4 million with online revenue of $19.3 million. Their retail revenue added $566K.
Penn National’s Meadows Casino, partnered with DraftKings Sportsbook online, had a handle of $204.1 million, with online revenue of $9.6 million and total sports revenue of $9.8 million.
Land-based retail casinos fully recovered
In October, retail slot revenue was more than $203.3 million, up from $154.7 million a year ago.
Retail table revenue topped $89 million. A year back, table revenue was $63.3 million.
Penn National brands continue to suck up online casino market share
The dominant winner in the online casino segment was Hollywood Casino at Penn National Gaming, with $44.4 million in iGaming revenue. Its brands include DraftKings, BetMGM and Barstool.
But Mount Airy Casino, Parx Casino and Mohegan Sun Pocono were down double-digit percentages year over year in the online casino sector.
Lead image via Shutterstock.