They say history repeats itself. PA online casinos proved this true once more in March, breaking yet another revenue record. In doing so, online casinos helped the state surpass $500 million in overall March gaming revenue for the first time in Pennsylvania’s 16-year gambling history.
Pennsylvania generated $515,278,831 across all forms of gambling, both retail and online, in March. Online casino revenue was a significant component, recording $181.5 million for the month and breaking December 2022’s previous high of $166.9 million.
PA sportsbooks and online casinos fuel massive March
PA’s overall March gaming revenue represents an 11.35% YoY increase from $462.7 million in 2022. However, not all verticals are created equal.
Though retail slots were the driving force ($225.4 million), the vertical’s 4.98% YoY growth was smaller than sports betting, online slots and online table games.
Online slots ($104.8 million) remained No. 2, with its 32.36% YoY growth also the second most.
Only PA sports betting ($50.6 million) showed greater gains, up 66.59% YoY. This growth enabled it to pass online table games ($40.5 million), which had the third-largest YoY improvement at 13.42%.
Some verticals showed YoY declines from March 2022, including retail table games, PA online poker and video gaming terminals.
- Retail slots: $225.4 million (+4.98% YoY)
- Online slots: $104.8 million (+32.36% YoY)
- Retail tables: $85.9 million (-8.91% YoY)
- Sports wagering: $50.6 million (+66.59% YoY)
- Online tables: $40.5 million (+13.42% YoY)
- Video Gaming Terminals: $3.8 million (-1.87% YoY)
- Online poker: $2.9 million (-10.82% YoY)
- Fantasy contests: $1.4 million (+0.59% YoY)
Revenue momentum continues for PA online casinos
Online casinos in Pennsylvania have spent four of the last six months creating new ceilings in the revenue department.
“PA online casinos continue to set records within the country. In March, they once again posted a new all-time, all-market US iGaming record by producing $181.5 million in monthly revenue. The incredible showing took down their previous best from December 2022 ($166.9 million) by around 8.8%, while growing about 27.2% year-over-year,” said PlayPennsylvania Managing Editor Chris Imperiale.
Year-over-year revenue grew 8.8% from the $142.7 million generated in March 2022, a record at the time. That mark stood until October before online casinos surmounted the number.
Since then, they’ve passed that total in every recent month, setting four new landmarks since October.
- October 2022: $151.7 million
- November 2022: $155.9 million
- December 2022: $166.9 million
- January 2023: $160.3 million
- February 2023: $162.3 million
- March 2023: $181.5 million
Hollywood Casino remains on top; Valley Forge challenges Rivers
Hollywood Penn National is Pennsylvania’s most prominent online casino licensee and continues to lead the charge as the industry grows. Its brands of BetMGM Casino, Hollywood, DraftKings, PointsBet and Barstool combined for $76.7 million in gross gaming revenue (GGR) in March (+38.9% YoY), accounting for 42% of the state’s online casino revenue. In the process, it reached two milestones:
- Over $200 million in GGR for 2023, through just three months
- Over $1.5 billion in lifetime GGR
Rivers Casino PA (BetRivers Casino, Sugarhouse and Borgata) was second with $38.5 million in GGR (+3.9% YoY). Its growth was enough to stay ahead of Valley Forge Casino, which had $37.2 million in GGR (+48.4% YoY) from its brands of FanDuel and Stardust.
These three licensees generated nearly 84% of all online casino GGR, while the remaining six combined came up short of matching Valley Forge’s production.
Licensee Total Revenue Slots Tables Poker Promos Taxes
Hollywood Penn National $76,673,159 $58,231,846 $18,085,165 $356,148 $14,370,279 $23,562,614
Rivers Philadelphia $38,477,198 $34,786,874 $3,560,814 $129,511 $7,928,890 $13,212,776
Valley Forge $37,166,021 $22,823,856 $14,342,164 $0 $5,348,119 $10,508,343
Parx $6,853,627 $5,906,889 $946,738 $0 $1,208,684 $2,359,634
Mount Airy $6,646,503 $3,752,486 $1,104,356 $1,789,662 $1,459,562 $1,537,408
Harrah's Philadelphia $5,818,710 $4,141,659 $1,062,662 $614,389 $937,572 $1,771,196
Live Philadelphia $4,754,362 $4,050,733 $703,630 $0 $756,912 $1,660,676
Wind Creek $2,932,171 $2,565,454 $366,717 $0 $842,553 $868,438
Mohegan Sun Pocono $2,207,198 $1,908,010 $299,188 $0 $487,349 $715,581
Total $181,528,950 $138,167,806 $40,471,434 $2,889,710 $33,339,922 $56,196,666
More PA casinos might be launching soon
Historically, April through September produces lower GGR totals than March and Q4. That said, Pennsylvania’s online casinos have plenty of room for growth ahead.
More online casinos are expected to join the market later in 2023, which could add millions more each month to overall numbers. It will also give players more options in a competitive landscape and provide opportunities for new sign-up bonuses and promos.
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