Pittsburgh’s Rivers Casino is in once again sitting pretty in Pennsylvania’s sports betting landscape.
The Pennsylvania Gaming Control Board (PGCB) released April sports betting numbers last week. Rivers Sportsbook led the eight current PA sportsbooks in total handle with $8,159,827. In March, Rivers was the leader in both handle and revenue.
This month, however, Parx Casino was slightly ahead in total revenue $907,298 to Rivers’ $871,753, despite trailing by over a million in total handle.
Total April revenues drop following March Madness
As expected, April’s total statewide handle of $36.7 million declined from March’s $44.5 million, which receives a tremendous boost from the NCAA Men’s Basketball tournament betting.
FanDuel’s Valley Forge Casino makes gains
FanDuel Sportsbook at Valley Forge Casino Resort showed significant growth in its first full month of operation. After opening just before March Madness, the sportsbook climbed from #7 to #5 in total handle, climbing past Harrah’s Philadelphia and South Philly Turf Club.
Valley Forge Race and Sportsbook, now known as The Oaks finished last in total handle with $1,541,891. The close competition from the FanDuel-branded sportsbook across town is certainly hurting its overall numbers.
SugarHouse Casino also performed well
Tax revenue continues to trickle in
Overall, the state’s eight sportsbooks created $1,519,734 in tax revenue for the month of April. That total will hopefully grow exponentially when PA launches online sports betting.
Reports indicated sports betting would go online in May. Now, some books, like Parx, claim launch will come in June. However, no property has offered a concrete launch date yet.
PA will be fourth state to offer online betting
When mobile betting arrives, it will likely shake up the state’s handle and revenue numbers. The first casinos to offer betting apps should see a substantial bump in both areas. The expectation is Rivers and SugarHouse will be first to launch. When is still a big question mark.
Currently, New Jersey, Nevada, and Delaware are the only states to offer online betting. However, consumers preference for online betting is apparent. In New Jersey, online sports wagering has consistently accounted for roughly 80% of the overall handle.
Online sports betting – better late than never?
Last month, PGCB Communications Director Doug Harbach said he expected mobile sports betting to arrive within three weeks.
“We expect to begin live testing of the online sports betting app for at least one of the approved casino vendors within the next two-three weeks,” Harbach said in mid-April, via Legal Sports Report.
A month later, online betting has yet to arrive. And the rumors circulating suggest that everyone may have to wait a few more weeks.
But the bottom line is this – PA online sports betting is coming soon.
And when it arrives, casino handles will rise substantially. Tax revenues will climb too.
The entire landscape will change.