Pennsylvania: Online Gambling Revenue Nears Record in August
Date: 2024-09-19 Author: Kirill Zagoruyko Categories: PAYMENT SOLUTIONS
The state’s total gaming revenue was $525.5 million, up 14.9% from August last year and up 4.9% from July 2024. The biggest driver of this growth was online gambling revenue, which reached $183.7 million. This was 29% higher than August 2023 and the second-highest monthly total behind the record of $191.1 million set in March 2024.
Looking more closely, online slots revenue totaled $138.3 million, while table games revenue reached $43.2 million. Poker revenue was more than $2.2 million. Hollywood Casino at Penn National Race Course has been the leader in online gambling in recent months, bringing in $72.1 million in August. Valley Forge Casino Resort came in second with $46 million in revenue, and Rivers Casino Philadelphia was third with $30.8 million.
As for sports betting, total revenue was $45.4 million, up 48.4% from last year but down 13.9% from July. After accounting for advertising credits, taxable income was $30 million. Online wagering generated $25.5 million in gross revenue, while retail wagering revenue was $4.5 million.
Pennsylvania sports betting volume reached $485.3 million in August, up 23.5% year-over-year, with online bets accounting for $457.6 million and retail bets accounting for $27.7 million. This resulted in an overall market retention rate of 9.4%, with online betting accounting for 9.0% and retail betting accounting for 16.2%.
The sports betting market is dominated by FanDuel, in partnership with Valley Forge Casino Resort, which earned $13.3 million in August on $176.5 million in wagered volume, for a retention rate of 10.4%. DraftKings, in partnership with Hollywood Casino at the Meadows, came in second, with revenue of $7.8 million on $124.4 million in wagers, for a retention rate of 9.1%.
In other market segments, land-based slots revenue remains the largest source of gambling revenue in Pennsylvania, totaling $211.1 million in August, up 3.9% year-over-year. Physical table games revenue declined 2.1% to $81 million. Video gaming terminal revenue increased 5.7% to $3.7 million, while fantasy sports revenue fell 18.3% to $647,522.
Looking more closely, online slots revenue totaled $138.3 million, while table games revenue reached $43.2 million. Poker revenue was more than $2.2 million. Hollywood Casino at Penn National Race Course has been the leader in online gambling in recent months, bringing in $72.1 million in August. Valley Forge Casino Resort came in second with $46 million in revenue, and Rivers Casino Philadelphia was third with $30.8 million.
As for sports betting, total revenue was $45.4 million, up 48.4% from last year but down 13.9% from July. After accounting for advertising credits, taxable income was $30 million. Online wagering generated $25.5 million in gross revenue, while retail wagering revenue was $4.5 million.
Pennsylvania sports betting volume reached $485.3 million in August, up 23.5% year-over-year, with online bets accounting for $457.6 million and retail bets accounting for $27.7 million. This resulted in an overall market retention rate of 9.4%, with online betting accounting for 9.0% and retail betting accounting for 16.2%.
The sports betting market is dominated by FanDuel, in partnership with Valley Forge Casino Resort, which earned $13.3 million in August on $176.5 million in wagered volume, for a retention rate of 10.4%. DraftKings, in partnership with Hollywood Casino at the Meadows, came in second, with revenue of $7.8 million on $124.4 million in wagers, for a retention rate of 9.1%.
In other market segments, land-based slots revenue remains the largest source of gambling revenue in Pennsylvania, totaling $211.1 million in August, up 3.9% year-over-year. Physical table games revenue declined 2.1% to $81 million. Video gaming terminal revenue increased 5.7% to $3.7 million, while fantasy sports revenue fell 18.3% to $647,522.
