The month of February recorded a significant upsurge in gambling revenue in Pennsylvania, rising to a sturdy $499.1 million. This figure not only surpasses the previous year’s revenue by 9.3%, which stood at $456.8 million but shows a marginal retraction of 1.6% from January’s record of $464.4 million in the current year. Amidst varied fluctuations across the different gaming sectors, the data reflects the evolving landscape of Pennsylvania’s gambling industry.
The retail slots have consistently played a dominant role in generating revenue for the state, albeit a slight year-on-year decrease, bringing in $202.7 million. Curiously, this marginal drop comes in the wake of a reduction of available slot machines, shrinking from 25,708 to 24,962. Despite fewer machines, the retail slots have maintained a stronghold as the leading revenue source in the Keystone State.
In contrast to the static performance of slot machines, land-based table games have witnessed an upward trajectory, climbing by 2.9% to reach $76.6 million in revenue. This growth suggests a steady interest in traditional table gaming among Pennsylvania gamblers.
The spotlight, however, is on the online market, which witnessed an eye-catching boom. Total iGaming revenue skyrocketed by an impressive 40.5%, ascending to a record-breaking $184.9 million, a notable increase from $131.6 million in the previous year. Online slots, in particular, enjoyed a 35.6% jump in revenue, accumulating $125.9 million. Moreover, internet table games also experienced substantial growth, with a 56.7% hike culminating in $56.6 million in revenue. Online poker, though, saw a small retreat with an 8.3% decrease, descending to $2.4 million.
Hollywood Casino at Penn National Race Course emerged as the unmistakable leader in the online gaming sector, with a reported $77.3 million in iGaming revenue, marking an impressive year-on-year increase of 36.8%. Not far behind, Valley Forge Casino Resort boasted a 63.0% growth with a $44.8 million haul, with Rivers Casino Philadelphia securing the third spot at $29.3 million, 11.4% ahead of the previous year.
In the realm of sports betting, the narrative diverged with a substantial 30.0% decrease in revenue, settling at $30.3 million for February. Online betting claims the lion’s share of this sector, generating $28.2 million. Conversely, retail wagering contributed a lower sum of $2.1 million to the monthly tally. This decrease comes despite a notable increase in the total sports betting handle, which rose from $599.5 million to an impressive $661.7 million, a gain of 10.4%.
Among sports betting leaders, Valley Forge Casino Resort, along with its partner FanDuel, continues to hold the reins, securing $17.7 million in revenue. Hollywood Casino at the Meadows and their partner DraftKings followed in second place with $7.7 million, and Hollywood Casino Morgantown with BetMGM took the third spot, earning $1.2 million.
Exploring other gambling avenues in Pennsylvania, video lottery terminal revenue saw a minor markdown of 2.4%, constricting to $3.2 million, while fantasy sports also faced a drop, with revenue slipping by 5.2% to $1.3 million for February.
The statistical narrative of Pennsylvania’s gambling scene in February encapsulates the dynamic and ever-evolving nature of gaming, with iGaming stealing the spotlight through its momentous surge. As sectors such as sports betting encounter declines, the overall industry continues to thrive, propelled by the buoyant performance of online platforms and the resilience of retail gaming operations.
