The Pennsylvania Gaming Control Board (PGCB) has released its latest monthly revenue report revealing that combined gambling revenues in the month of November fell by 1.7% year-on-year to $444.4 million.
Retail slots were once again the industry’s main source of revenue as land-based casinos reported $189.7 million in slots revenue for the month of November. This was an increase of 2% year-on-year. Casino operators also reported that revenue from table games dropped by 1.7% to $77.8 million. Revenue from Video Gaming Terminals came to $3.3 million while fantasy sports revenue came to $2.5 million.
iGaming Up by 23%
Online casino operators reported a 23% increase in combined revenues to $158 million. Of that figure, $109.3 million in revenue came through online slots while online casino table games revenue grew by 18% to $46.4 million for the month. Meanwhile, online poker revenues came to $2.3 million.
The market leader in the iGaming sector was once again Hollywood Casino with $61.1million for the month of November. Second-placed Valley Forge Casino Resort reported just over $41 million in revenues.
Sportsbooks Set New Monthly Wagering Record
Pennsylvania sportsbooks reported taking in a record $934.1 million in wagers during the month of November. This was the first time that sports betting handle broke the $900 million threshold since Pennsylvania sports betting launched in November 2018. Of that figure, $876.7 million came through mobile sports betting apps.
Despite smashing the state record for wagers in a single month, sportsbooks reported a low win percentage of just 1.38% resulting in $12.8 million in combined revenues. This was the lowest revenue figure since June 2022.
FanDuel was the outright market leader reporting $384 million in wagers $8.4 million in revenue.
So far this year, bettors have wagered $6.7 billion at Pennsylvania sportsbooks, a 4.7% increase on the same period in 2022. The all-time betting handle now stands at $25.6 billion.
Year-to-Date Sports Handle, Revenues & Taxes in Pennsylvania
| Period | Total Handle | Mobile Handle | Mobile Handle % | Sportsbook Revenue | Win % | Adjusted Sportsbook Revenue | Adjusted Win % | State Taxes |
|---|---|---|---|---|---|---|---|---|
| Jan 2023 | $772,289,648 | $719,700,379 | 93.19% | $57,982,069 | 7.51% | $39,250,402 | 5.08% | $13,345,137 |
| Feb 2023 | $599,529,429 | $555,793,862 | 92.71% | $62,214,502 | 10.38% | $43,230,177 | 7.21% | $14,698,260 |
| Mar 2023 | $723,545,806 | $667,464,497 | 92.25% | $66,465,774 | 9.19% | $50,645,259 | 7.00% | $17,219,388 |
| Apr 2023 | $572,152,803 | $536,265,702 | 93.73% | $51,786,464 | 9.05% | $37,036,123 | 6.47% | $12,592,282 |
| May 2023 | $495,585,360 | $460,189,894 | 92.86% | $57,533,744 | 11.61% | $41,104,590 | 8.29% | $13,975,561 |
| Jun 2023 | $373,171,415 | $349,359,461 | 93.62% | $33,866,725 | 9.08% | $23,060,076 | 6.18% | $7,840,426 |
| Jul 2023 | $338,450,263 | $316,089,466 | 93.39% | $39,406,353 | 11.64% | $32,089,785 | 9.48% | $10,910,527 |
| Aug 2023 | $393,007,298 | $367,172,896 | 93.43% | $30,614,565 | 7.79% | $22,026,307 | 5.60% | $7,448,944 |
| Sep 2023 | $726,259,712 | $672,861,548 | 92.65% | $66,109,574 | 9.10% | $36,633,084 | 5.04% | $12,455,249 |
| Oct 2023 | $829,002,595 | $773,164,247 | 93.26% | $73,631,197 | 8.88% | $48,150,055 | 5.80% | $16,371,018 |
| Nov 2023 | $934,130,152 | $876,754,839 | 93.86% | $49,174,979 | 5.26% | $12,884,034 | 1.38% | $4,380,572 |
| Totals | $6,757,124,481 | $6,294,816,791 | 93.18% | $588,785,946 | 9.04% | $386,109,892 | 6.14% | $131,237,364 |
Taxes
Total tax revenue generated from slot machines, table games, sports wagering, iGaming, video gaming terminals and fantasy contests for the month of November came to $182 million.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.