Pennsylvania Achieved Record Gambling Revenue in 2022-23 Fiscal Year

During the 2022-23 fiscal year, Pennsylvania reached new heights in gambling revenue, reporting an impressive $5.51 billion, marking an all-time high for the state and surpassing the previous record of $5.04 billion set in 2021-22 by 10.0%.

The primary source of revenue came from retail slots, generating $2.45 billion, a 1.7% increase from the previous year and the second-highest annual total in history, just behind the $2.48 billion recorded in 2011-12. However, land-based table games revenue experienced a 4.1% decline year-on-year, totaling $974.0 million.

In the online gambling segment, revenue surged by 24.4% to an all-time high of $1.53 billion, encompassing online slots, table games, and poker. The Pennsylvania Gaming Control Board (PGCB) kept the specific breakdown of these figures a secret. Hollywood Casino at Penn National emerged as the leader in the iGaming market with $648.2 million in revenue, followed by Rivers Casino Philadelphia with $330.9 million and Valley Forge Casino Resort with $309.3 million.

Regarding sports betting, revenue also achieved a record high of $492.0 million, though the yearly handle was not published. In partnership with FanDuel, Valley Forge took the lead in this market with $255.5 million in revenue. Hollywood Casino at the Meadows' Barstool Sportsbook came in second with $109.9 million, followed by Hollywood Casino, also partnered with Barstool, earning $21.1 million.

The PGCB additionally reported that video gaming terminal revenue increased by 1.3% to $42.1 million, while fantasy sports revenue experienced a decline of 24.3% to $20.7 million.

Revenue Growth in June

In June, the state's overall market revenue reached $440.5 million, marking a 13.0% increase from June 2022 but an 8.1% decrease from May's revenue of $479.4 million.

Retail slots revenue rose by 4.4% year-on-year to $201.5 million, and land-based table games revenue increased by 0.1% to $76.2 million.

Online gambling revenue soared by 31.6% to $98.2 million, with internet slots revenue surging by 35.9% to $98.2 million, while online table games revenue increased by 24.1% to $34.8 million. However, online poker revenue experienced a decline of 6.6%, amounting to $2.4 million.

Hollywood Casino at Penn National is still leading the way with $57.8 million in revenue during June, followed by Valley Forge Casino Resort with $28.2 million and Rivers Casino Philadelphia with $27.0 million.

Sports betting witnessed significant growth, with revenue soaring by 80.6% to $23.1 million, with $21.7 million in online revenue and an additional $1.3 million in retail revenue. Interestingly, this growth occurred despite the handle falling by 5.2% to $373.2 million. Valley Forge and FanDuel retained their position at the top with revenue of $11.4 million during June, followed by Hollywood Casino at the Meadows and Barstool at $6.0 million, and Rivers Casino Pittsburgh with Rush Street Interactive at $1.1 million.

Additionally, VGT revenue experienced a 3.3% decrease to $3.4 million, while fantasy sports revenue declined by 43.7% to $848,591.