Pennsylvania Gaming Industry Sees Strong Revenue Surge in July 2023
Date: 2023-08-18 Author: Kirill Zagoruyko Categories: EVENTS
Keystone's gaming sector has shown strong growth once again as the Pennsylvania Gaming Control Board (PGCB) released its latest July 2023 data showing impressive growth in revenue from various gaming destinations. The total revenue generated by the state's gaming industry for the month reached a significant amount of $467 million, up 6% from the previous month and 8.8% from July 2022.
Gaming diversity secures $192 million tax hike for Pennsylvania
The increase in revenue contributed significantly to state and local governments, raising a total of $192 million in tax revenue for July. The online casino sector was the main driver of revenue growth, with operators collectively generating $132.9 million from players. Although this figure indicates a slight drop of 1.8% compared to June, it reflects an impressive 34.8% increase compared to July 2022.
Prominent performers in the online casino sector included the Hollywood Casino at the Penn National Race Course, which generated $54.4 million in cumulative revenue. Notably, this was due to various operators using the Hollywood Casino license such as DraftKings, BetMGM, PointsBet, Barstool and Hollywood Casino platforms.
Valley Forge Casino Resort, represented by FanDuel and StarDust Casino, came in close second with $29.2 million in revenue, while Philadelphia-based Rivers Casino operators, including BetRivers, PlaySugarHouse and Borgata, received $26.8 million.
Rivers Philadelphia leads in casino visits
However, in traditional casinos, the data revealed a relatively stagnant trend towards in-person visits, despite an increase in the number of establishments over the year. The 17 incumbent casinos reported $214.7 million in slot revenue for July, up slightly from 16 casinos in the prior year. Board game revenue was $83.4 million, down $3 million from July 2022.
Rivers Philadelphia Casino emerged as the standout player in this category, posting a 24% increase in slot revenue to $12.1 million. However, board game revenue declined 5.9% to $7.2 million. On the other hand, Harrah's Philadelphia had a tough month, with arcade revenue down 16.6% to $9.6 million and table game revenue down 24% to $2.7 million.
Parx Casino maintained its position as the leader in slot machine revenue with $33.3 million, albeit down 1% from July 2022. Meanwhile, Wind Creek Bethlehem maintained its status as the go-to place for board games, earning $23.7 million, up just under 1% from July 2022. the level of the previous July. In addition to excellent results in this sector, PGCB imposes huge fines on casinos in the state due to regulatory violations, including underage gambling and insufficient childcare.
Gaming diversity secures $192 million tax hike for Pennsylvania
The increase in revenue contributed significantly to state and local governments, raising a total of $192 million in tax revenue for July. The online casino sector was the main driver of revenue growth, with operators collectively generating $132.9 million from players. Although this figure indicates a slight drop of 1.8% compared to June, it reflects an impressive 34.8% increase compared to July 2022.
Prominent performers in the online casino sector included the Hollywood Casino at the Penn National Race Course, which generated $54.4 million in cumulative revenue. Notably, this was due to various operators using the Hollywood Casino license such as DraftKings, BetMGM, PointsBet, Barstool and Hollywood Casino platforms.
Valley Forge Casino Resort, represented by FanDuel and StarDust Casino, came in close second with $29.2 million in revenue, while Philadelphia-based Rivers Casino operators, including BetRivers, PlaySugarHouse and Borgata, received $26.8 million.
Rivers Philadelphia leads in casino visits
However, in traditional casinos, the data revealed a relatively stagnant trend towards in-person visits, despite an increase in the number of establishments over the year. The 17 incumbent casinos reported $214.7 million in slot revenue for July, up slightly from 16 casinos in the prior year. Board game revenue was $83.4 million, down $3 million from July 2022.
Rivers Philadelphia Casino emerged as the standout player in this category, posting a 24% increase in slot revenue to $12.1 million. However, board game revenue declined 5.9% to $7.2 million. On the other hand, Harrah's Philadelphia had a tough month, with arcade revenue down 16.6% to $9.6 million and table game revenue down 24% to $2.7 million.
Parx Casino maintained its position as the leader in slot machine revenue with $33.3 million, albeit down 1% from July 2022. Meanwhile, Wind Creek Bethlehem maintained its status as the go-to place for board games, earning $23.7 million, up just under 1% from July 2022. the level of the previous July. In addition to excellent results in this sector, PGCB imposes huge fines on casinos in the state due to regulatory violations, including underage gambling and insufficient childcare.
