The Pennsylvania Gaming Control Board (PGCB) has released its latest monthly revenue report revealing that, gambling revenue in the state grew by 7.05% year-on-year in the month of May.
The latest figures show that combined revenues for all sectors came to $479.3 million. This represented a marginal increase of 0.5% compared to the previous month.
Retail slots were the industry’s main source of revenue as casinos reported $210.8 million in slots revenue for the month. This was a 2.5% increase on May 2022 and a slight drop on the previous month’s total. Casinos also reported that revenue from table games dropped by 7.82% to $81.6 million. Revenue from Video Gaming Terminals came to $3.5 million, down by 2.4% year-on-year while fantasy sports revenue fell by 22.53% to $1.2 million.
iGaming up by 24.4%
iGaming continued its upward trend as PA online casino operators reported a 24.4% increase in combined revenues to $140.9 million from some of the 57+ million gamblers in the US, up by just over 2% on the previous month. Of that figure, $100.5 million came from online slots which saw a 28.6% jump in revenues year-on-year. Meanwhile online casino table games revenue grew by 17.3% to $37.8 million for the month. However, online poker continues its downward trend as revenues dropped by 11% to $2.5 million.
The market leader in the iGaming sector was once again Hollywood Casino with $58.3 million for the month of May. This was almost twice the revenues generated by second-placed Valley Forge Casino Resort with $29.5 million in online revenues.
Sports betting revenues up by 17.4%
Pennsylvania sports betting revenues grew by 17.4% to $41.1 million year-on-year. Sportsbooks reported accepting over $495.5 million in wagers throughout the month, a 0.45% increase year-on-year. Of this figure, $460.1 million came through online sportsbooks resulting in $53.4 million in revenue. Meanwhile, the retail sector accepted just over $35.3 million in wagers generating just over $4 million in revenue.
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.