19 Sep

Gambling News

Pennsylvania's igaming revenue almost missed setting a monthly record in August.

Pennsylvania had an annual and monthly rise in gambling income in August, propelled by a near-record performance from the state's igaming sector.
Revenue from gaming in Pennsylvania August
In August, Pennsylvania's total gaming revenue reached $525.5 million (£397.1 million/€472.1 million). This figure represents a 14.9% increase compared to last year and is 4.9% greater than the number for July of this year.

Continued expansion of igaming in Pennsylvania 
In August, the prominent statistic was igaming revenue, totalling $183.7 million. This amount is 29% greater than last year and represents the second-highest monthly total on record, barely below March 2024’s $191.1 million revenue.

In August, online slots accounted for $138.3 million of total igaming income. Table games generated $43.2 million, while poker income exceeded $2.2 million for the month.

Hollywood Casino at Penn National Race Course continues to be the market leader in this area. In August, it reported $72.1 million in online casino revenue. Valley Forge Casino Resort retains the second position with $46.0 million, followed by Rivers Casino Philadelphia with $30.8 million.

Sports betting income reached $45.4 million in August.
In the realm of sports betting, gross income reached $45.4 million, reflecting a 48.4% increase from the previous year, albeit a 13.9% decline compared to July. Following the application of promotional credits, the taxable revenue for the month amounted to $30.0 million.

Online wagering produced $25.5 million in gross income, while the retail segment accounted for $4.5 million.

The entire expenditure on sports betting in Pennsylvania for August amounted to $485.3 million. This is a 23.5% increase compared to the previous year, with online transactions being $457.6 million and retail transactions amounting to $27.7 million.

This indicated a total market share of 9.4% for the month. The online hold was 9.0%, while the retail hold was 16.2%.

In terms of operators, FanDuel, in collaboration with Valley Forge Casino Resort in Pennsylvania, remains the leader. In August, it reported $13.3 million in gross income from $176.5 million in wagers, resulting in a 10.4% hold.

DraftKings, in conjunction with its partner Hollywood Casino at the Meadows, secured a second-place position once more. The partnership generated gross income of $7.8 million from a total handling of $124.4 million, yielding a monthly hold of 9.1%.

What transpired in other regions of Pennsylvania?
In other market areas, terrestrial slot machines continue to be the primary source of gaming revenue in Pennsylvania. The $211.1 million earned in August is a 3.9% increase compared to the previous year. Revenue from physical table games, meanwhile, declined by 2.1% to $81.0 million.

Revenue from video gaming terminals increased by 5.7% to $3.7 million, however fantasy sports revenue declined by 18.3% to $647,522.