PGCB Annual Report 2024: Pennsylvania's Gaming Revenue Surges, Regulatory Efforts Expanded

The Pennsylvania Gaming Control Board (PGCB) has released its annual report for the 2023-2024 fiscal year, showcasing significant developments in the state’s gambling sector. As Pennsylvania solidifies its position as a major gaming jurisdiction, this year’s report highlights record-breaking revenues and growth in both retail and interactive gaming. In total, the gambling industry contributed $2.54 billion in taxes, bolstering the state’s economy while providing job opportunities and local investments.

Gaming Revenue Hits New Heights

The report reveals that total gaming revenue for the 2023-2024 fiscal year reached $5.89 billion, marking a 6.8% increase compared to the previous year. This surge is primarily driven by the expanding online gaming sector, which saw a significant 27% boost, bringing in $1.9 billion. Additionally, traditional casino games, including slots and table games, contributed a substantial $3.4 billion in revenue despite slight declines in individual categories.

Among the notable figures, slot machines generated $2.44 billion, while table games brought in $865 million. The interactive gaming market, which includes slots, table games, and poker, witnessed remarkable growth, producing $841 million in tax revenue. In particular, interactive slot machines led the charge, raking in over $1.39 billion.

Expansion of Interactive Gaming and Sports Wagering

The PGCB report underscores Caesars Palace, Golden Nugget, and ESPNBet. “The success of legalized gaming has led to a significant tax base,” the report states, emphasizing the positive economic impact this expansion has had on the state’s infrastructure.

Sports wagering remains another key revenue driver, with $8.1 billion wagered during the fiscal year. While retail betting locations decreased by one, the 11 online platforms remained robust. Total revenue from sports betting reached $486 million, contributing $175 million in taxes to the state. Retail sports wagering generated $38 million, and online sports wagering brought in $448 million, solidifying Pennsylvania as a top destination for sports bettors.

Responsible Gaming and Regulatory Advances

In addition to revenue gains, the PGCB highlighted its ongoing efforts to promote responsible gaming. The agency continues to initiatives like the “Don’t Gamble with Kids” campaign, which focuses on preventing minors from being left unattended in casino parking lots or nearby areas while their guardians gamble. The report also spotlights the Office of Compulsive and Problem Gambling’s work offering self-exclusion programs, which saw their 30,000th voluntary enrollment this fiscal year.

Furthermore, the PGCB reinforced its commitment to rigorous regulatory oversight, ensuring that games remain fair and secure. “We are proud to be recognized as one of the top gambling regulators in the world,” said Kevin O’Toole, the board’s executive director. The agency’s staff of 344 employees worked diligently to monitor compliance, review gaming products, and handle patron complaints.

A Strong Economic Impact

The gaming industry in Pennsylvania continues to serve as a major contributor to the local economy. According to the report, over 15,800 people are employed in various gaming operations across the state, with 90% of those positions filled by Pennsylvania residents. Moreover, casinos have invested heavily in the local economy, with over $12 billion in non-construction and construction purchases made within Pennsylvania since the launch of casino gaming in the state. Of this total, one-third was spent in businesses in the same county or adjacent counties to the casinos.

Looking ahead, Pennsylvania’s gaming sector shows no signs of slowing down. With ongoing investments in gaming facilities, including new restaurants, poker rooms, and slot machine upgrades, the state’s retail casinos are poised to remain competitive. Introducing innovative live dealer studios in the online sector further cements Pennsylvania’s status as a leading gaming market.

Source:

PGCB Annual Report 2023-2024 [PDF] October 1, 2024.