It’s not news that PA online casinos are big business, with lifetime revenues of over $3.5 billion since launching in 2019. But already, the state is emerging as the US leader in iGaming revenue.
This includes posting US record revenue numbers for two months in a row, as seen in the most recent figures released Monday by the Pennsylvania Gaming Control Board. For November, PA online casinos raked in $155.9 million in gross revenue. The performance tops the October’s total of $151.7 million. Prior to October, PA held the iGaming revenue record of $147.7 million, set in March this year.
PA online casinos eclipsed the nation’s most mature market
Previously, New Jersey held the record, with its more established iGaming market having launched in 2013. In comparison, New Jersey’s iGaming revenue totaled $146.2 million in November, which came just short of that state’s all-time high of $147.2 million set in October.
With Pennsylvania’s hefty taxes on online slot games (the largest iGaming revenue source), online casinos generated over $47 million in state tax revenue.
The table below shows a revenue breakdown for the state’s 10 online casino licensees.
|Hollywood Penn National||$66,924,828||$47,682,467||$18,936,454||$305,907||$11,269,581||$20,188,499|
|Mohegan Sun Pocono||$2,503,944||$1,977,509||$526,434||$0||$484,995||$785,711|
|Presque Isle Downs||$167,576||$94,249||$73,327||$0||$200||$55,936|
Top 3 licensees increased their already sizable market share
The big three licensees continue to make up the lion’s share of revenue, operating 10 online casino brands between them. In terms of lifetime revenue, the three have brought in over 76% of iGaming revenue. Their November total of $131.4 million was an even bigger piece of the pie, making up over 84% of the revenues for the month.
Hollywood Penn National remained the highest earner last month, operating Hollywood, DraftKings, BetMGM, PointsBet and Barstool Casino. Penn’s lifetime revenues total about $1.25 billion.
Rivers Philadelphia has brought in $933.5 million in lifetime revenue with its BetRivers, SugarHouse and Borgata brands.
Valley Forge operates FanDuel and Stardust, and recently crossed the half-billion mark with its lifetime revenue.
PA’s online casino market is still growing
The latest revenue numbers are not a huge surprise, as more growth is still expected.
As growth in other gaming sectors shows signs of slowing down, online gaming is still catching on. At least 10 online casino operators have license applications pending in the state, some of which could launch this fiscal year.