The latest monthly revenue report from the Pennsylvania Gambling Control Board (PGCB) has revealed that the state’s gambling operators combined to generate revenues of $432.5 million for the month of March.
March saw the sports betting industry bounce back to post revenues of $30.4 million
The latest figures represent an all-time revenue record for the state and a jump of 14.8% on the same period in 2021 and a 15.1% increase on February’s revenue figures.
According to the report, the majority of areas in the state’s gambling market experienced year-on-year growth with the iGaming sector in particular enjoying a successful month as PA online casinos generated a combined $118.1 million in revenue. Of this figure, $79.2 million came through online slots while online table games generated $35.7 million and internet poker $3.2 million.
The Hollywood Casino at Penn National was the iGaming market leader with over $45.1 million in revenue. Its nearest competitor Rivers Casino Philadelphia reported $30.2 million in revenue while Valley Forge Casino Resort generated just $23.9 million.
Sports betting recovers
February marked a low point for Pennsylvania sports betting as the state revealed sportsbook lost a combined $442,847. However, March saw the sports betting industry bounce back to post revenues of $30.4 million, a jump of 3.6% on the same period in 2021.
Mobile sports betting revenue accounted for $25.4 million of that figure while retail revenue came in at just over $5 million. The report also reveals that the state’s licensed sportsbooks accepted over $715 million in wagers throughout the month, an increase of 27.6% year-on-year.
The market leader for the month was once again Valley Forge and its sports betting partner FanDuel. The two posted revenues of $15.4 million for the month while Hollywood Casino at the Meadows in partnership with Barstool Sportsbook came a distant second with just $4.4 million in revenue.
As a result, state taxes from sports betting in Pennsylvania for the month of March came to $10.3 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.
