Online Gaming Revenue Rises As Total Gambling Revenue Plummets in Pennsylvania

iGaming revenue in Pennsylvania has nearly doubled during the month of April. Online gambling contributed to 93.4% of the state’s total gambling revenue, as all land-based casinos were closed during this month.

Total revenue declined 83.8% year-on-year, to $46.1 million. Table games revenue and land-based slot segments were annulled by the shutdown which was enforced on March 17th.

Massive Month-on-Month Increase

Online gambling was launched in July 2019 in Pennsylvania…

…ed for $43.1 million of the total of $46.1 million, which is a 77.5% increase from March’s $24.3 million revenue.

iGaming growth in April was driven mainly by online slots, whose profits and turnover more than doubled, to $27.3 million, which is a staggering 121.2% month increase.

Table games also grew, although somewhat modestly, with revenue that was up 19.4%.

Online poker ed for another %5.3 million, which is a 67.7% rise.

Market Leaders

Pennsylvania’s online gambling market leader in April was Rush Street’s Rivers Casino Philadelphia…

…whose revenue was up 102.8% to $13.7 million.

Runner up was Mount Airy which generated $10.4 million, half of which is from poker.

Valley Forge, and its partner FanDuel, saw online casino revenue rise 59.7% to $7.9m, while Penn National’s Hollywood Casino’s 67.0% month-over-month growth took it above Parx into fourth place.

Caesars Entertainment and DraftKings also saw their first-ever contribution to the market with online casino products. The Caesars offering went live on April 23rd and managed to collect $231,464 in this short timeframe.

Sportsbooks Took an Expected Fall

Amounts wagered on sports betting declined 65.0% to $46.0m, with the most popular betting events suspended. Operators held $2.9m in revenue, which is 58.1% less than in March.

Valley Forge and FanDuel collected the most with revenue of $1.3m, though this represented a 53.5% drop from the month before. Meadows Racetrack and Casino, which is allied with DraftKings, saw revenue fall to $706,589. Still, it kept its second place, ahead of Rivers Casino Philadelphia, with revenue of $308,307.

Last month’s third-placed sportsbook licensee Parx Casino fell behind both Rivers Casino and Mount Airy. The latter actually grew sportsbook revenue month-over-month, with its $229,469 total representing a 32.4% improvement on March’s $173,358.

Source:

“Pennsylvania sees igaming revenue surge in April”, igbnorthamerica.com May 18th 2020.