Gambling News | 17 Apr 2024

The state of Pennsylvania's March revenue broke all previous records.

 The igaming market in Pennsylvania set a new record in March, contributing significantly to the state's record-breaking gambling income of $554.6m (£444.7m/€519.3m).
 Income from Pennsylvania's casinos  Compared to February's total of $449.1m, which was an increase of 11.1%, and December's record of $534.2m, which was achieved last year, March 2023 revenue in Pennsylvania was 7.6% more than $515.3m.

 The majority of March's income came from retail slots, which increased 1.1% to $227.9m.  This occurred despite a decrease from 25,643 to 24,886 slot machines.

 On the other hand, land-based table games brought in $85.2m, a decline of 0.8% from the previous month.

 Ignition in Pennsylvania sets new record
 The internet gambling industry set a new monthly high with total igaming revenue of $191.1m, an increase of 29.0%. 

 Internet table games had a 31.2% increase to $53.1m in revenue, while online slot machines saw a 29.3% increase to $135.5m.  Contrarily, March income from online poker was $2.5 million, a decrease of 14.4 percent.

 With $72.3 million in igaming revenue, Hollywood Casino at Penn National Race Course maintained its lead in this area.  Rivers Casino Philadelphia brought in $32.8 million, while Valley Forge Casino Resort took second place with $50.8 million.

 The sports betting industry continues to fall.
 The expansion of the igaming industry is great news for Pennsylvania, but the sports betting sector is not. 

 Here, revenue fell again in March, down 10% year-on-year to $45.6m.  Online gambling brought in $42.3 million in March, while retail sales brought in $3.2 million.

 Despite a monthly increase of 10.7 percent to $723.5 million in player expenditure, this came to pass. 

 When it comes to Pennsylvania, Valley Forge Casino Resort and its partner FanDuel are still way out in front.  Players wagered $333.2 million in March, resulting in $24.4 million in revenue.

 With $10.7 million out of a total of $209.2 million wagered, Hollywood Casino at the Meadows and DraftKings once again came in second.  Third with $1.8 million out of $51.9 million was the Hollywood Casino Morgantown, which partners with BetMGM.

 Video lottery terminal revenue in Pennsylvania was $3.7 million, a decrease of 0.5% from the previous year.  Earnings from fantasy sports fell 21.1% to $1.1 million.

 Subjects: Money and gambling
 Gambling on sporting events
 Online casino