Pennsylvania Casino Revenue Solid in July, Now Outperforming New Jersey
By Space Coast Daily // September 20, 2023
The online casino market in Pennsylvania accrued a solid $157.1 million in revenue for July in the latest set of financial results, and though this number is lower than in recent months, it still means that the state is outperforming the likes of New Jersey, showing that market is still strong.
The revenue total is made up of $119m made from online slots, $35m from table games, and a further $2.6 million brought in from online poker action. Pennsylvania has broken records in terms of revenue on four occasions since late 2022, and therefore, while the total is lower than in recent months, they are still showing strong growth year-on-year.
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On Pennsylvania’s casino fortunes, PlayPennsylvania’s Managing Editor states;
“Pennsylvania online casinos actually had one of their worst showings in some time, but still generated a strong $157.1 million in gross revenue this July. This marks the first time in eight months that the state didn’t reach the $160 million mark. Despite earnings dropping about 4.4% from last month, they increased more than 27% year over year. Even with the slower month, the PA market is clearly the leader in the US and should continue to see quality results in August before the NFL season gets underway.“
Overall gambling figures for the state, when factoring in sports betting and offline activities, were very high indeed. The total revenue racked up amounted to a massive $467 million, which is a rise of almost 9% on the same time last year.
Retail slots, as ever, were the big driver of revenue, with over $214 million in revenue secured via this route. Sports betting brought in $32.1 million, which is over 26% up on last year.
The front runner in terms of brick-and-mortar casinos in the state was the Hollywood Casino at Penn National Race Course, bringing in $70 million. Parx Casino finished in second spot, bringing in revenue of $56.1 million, while Valley Forge Casino Resort made $54.6 million.
Pennsylvania and New Jersey are often seen as states in an ongoing fight to place themselves second to Nevada in terms of revenue secured via gaming, and the two are very much neck and neck in this race.
Over the course of the first seven months of 2023, the Pennsylvania gaming industry has accumulated a total revenue in excess of $3.36 billion, which is a massive sum and shows an increase of over 11% in the same period in 2022.
Some of this is down to a return to action at in-person venues following the end of coronavirus restrictions, and as the in-person market has returned to normality, so has the online alternative continued to grow, leading to an overall surge that will almost certainly lead to Pennsylvania hitting a yearly revenue record for the third year on the bounce.