Record-Breaking Revenue for Pennsylvania Gaming in November

Pennsylvania’s gaming industry achieved unprecedented success in November 2024, setting new revenue benchmarks across multiple segments. Data released by the Pennsylvania Gaming Control Board (PGCB) revealed that the total revenue from gaming activities and fantasy contests reached a record $562.4 million. This figure marked an impressive 26% year-over-year increase compared to November 2023, reflecting the state’s thriving gaming sector.

Sports Betting Leads the Charge

A significant portion of this growth came from sports wagering. November’s sports betting handle soared to $935.5 million, a slight 0.15% increase from the previous year. However, the real highlight was the revenue generated, which surged to $77.1 million—an extraordinary 498% increase from November 2023.

FanDuel, in partnership with Valley Forge Casino Resort, maintained its position as the state’s leading operator, handling $373.6 million in bets and reporting $36.8 million in revenue. DraftKings followed with $246.2 million in wagers and $21 million in revenue. Emerging brands such as ESPN Bet and Fanatics showed continued growth. ESPN Bet handled $42.1 million in wagers, while Fanatics, which entered the Pennsylvania market in early 2024, reported a handle of $41.5 million and $4.1 million in revenue.

Robust Growth in iGaming

Online gaming also had a stellar performance in November. The iGaming segment recorded $200.5 million in revenue, up 26.9% compared to November 2023. This growth was fueled by a rise in online slots and table games. Hollywood Casino at Penn National Race Course emerged as the leader in iGaming, generating $74.4 million in revenue. Valley Forge Casino Resort followed closely, contributing $54.1 million. Rivers Casino Philadelphia also performed well, reporting $34.7 million in revenue from its online operations.

The surge in iGaming highlights a growing trend among players who prefer the convenience of online platforms. With increased engagement in online slots and interactive table games, this segment continues to be a key driver of revenue for Pennsylvania’s gaming industry.

Retail Slots and Table Games

Land-based casinos also contributed significantly to the state’s gaming revenue. Slot machines brought in $201.5 million in November, a 6.2% increase from the $189.7 million reported in the same month last year. Parx Casino led this category with $31.1 million in slot revenue, followed by Wind Creek Bethlehem with $23.9 million.

On the other hand, retail table games experienced a slight decline. Revenue from table games totaled $77.6 million, down 2.45% from November 2023. Wind Creek Bethlehem remained the top performer in this category, although it saw a modest drop of 1.65% compared to the previous year.

Mixed Results in Other Sectors

Fantasy contests and Video Gaming Terminals (VGTs) showed mixed results. Fantasy contests generated $2.5 million in revenue, a 4.2% decrease from November 2023. Meanwhile, VGT revenue also dipped by 4.4%, totaling $3.2 million. Despite these minor setbacks, the overall contribution of these segments remained steady, complementing the gains in other areas.

November 2024 was a landmark month for Pennsylvania’s gaming market. With record-breaking revenue across sports betting and iGaming, the state has solidified its position as a leader in the U.S. gaming industry. The total tax revenue generated during the month amounted to $232.8 million, highlighting the sector’s critical role in ing Pennsylvania’s economy.

For further details, visit the Pennsylvania Gaming Control Board’s website.

Source:

”PA Gaming Control Board Reports Record Monthly Revenue in November Driven by All-Time Highs in Sports Wagering and iGaming”, gamingcontrolboard.pa.gov, December 17, 2024.