Pennsylvania iGaming Revenue Hits Record High in February

In February 2024, Pennsylvania witnessed an unprecedented surge in online gambling revenue, reaching a staggering $184.9 million. This figure reflects a remarkable 40.5% increase compared to the previous year's revenue of $131.6 million.

The surge in online gambling revenue was propelled by substantial growth in both online slots and table games. Online slots revenue surged by 35.6%, totaling $125.9 million, while internet table games revenue experienced a remarkable 56.7% increase, reaching $56.6 million. However, there was a minor setback in online poker revenue, which declined by 8.3% to $2.4 million.

Hollywood Casino at Penn National Race Course maintained its dominance in the online gambling sector, reporting a substantial year-on-year revenue increase of 36.8% to $77.3 million. Following closely behind was Valley Forge Casino Resort, with a notable revenue surge of 63.0% to $44.8 million. Rivers Casino Philadelphia secured the third position, with a revenue increase of 11.4% to $29.3 million.

Despite a significant increase in total handle, Pennsylvania's sports betting revenue experienced a sharp decline of 30.0% year-on-year, totaling $30.3 million in February. Online betting contributed $28.2 million to this revenue, while retail wagering accounted for $2.1 million.

Valley Forge Casino Resort, in partnership with FanDuel, emerged as the leader in the sports betting market, generating $17.7 million in revenue during February. Hollywood Casino at the Meadows and DraftKings secured the second position with $7.7 million, followed by Hollywood Casino Morgantown, partnered with BetMGM, with $1.2 million.

Despite the remarkable growth in online gambling revenue, Pennsylvania's total gambling revenue for February stood at $499.1 million, reflecting a year-on-year increase of 9.3%. Retail slots remained the primary revenue source, generating $202.7 million, while revenue from land-based table games increased by 2.9% to $76.6 million. However, sports betting revenue experienced a notable decline despite an increase in total handle.