Home Gambling Industry Pennsylvania's gambling revenue in February soars by 22%

Pennsylvania's gambling revenue in February soars by 22%

3 min. read

The Pennsylvania Gaming Control Board (PGCB) has revealed the latest results for the gambling industry in the Keystone State. In the official report shared on the regulator’s website, the PGCB noted that the industry generated $456,838,518 in February 2023, up 21.60% on February 2022.

The strong results are owing to a rebound in sports gambling and online casino, as well as a strong retail sector, with the industry in the Keystone State showing strong signs of growth and success. The PGCB also took into consideration revenue from slot machines, internet gaming, sports wagering, fantasy contests, VGTs, table games, and more.

The regulator has offered its customary revenue breakdown by segment and property, spotting interesting trends once again. Some companies posted close to 100% gain or even exceeded these numbers in February 2023. For example, Valley Forge Casino Resort gained a 96.57% increase in revenue in February 2023, at $61,359,658, ahead of the $31,215,585 posted in February 2022.

Another property that had a remarkable pull in the overall revenue was Hollywood Casino at the Meadows which posted a 124.13% revenue gain from February 2022. The results in February 2023 stood at $26,532,683 compared to $11,838,065 a year earlier. Meanwhile, the top-grossing property was Hollywood Casino at Penn National which posted $72,567,559, or up 21.94% on the results in 2022 when the revenue stood at $59,508,976.

The second most-grossing property was not surprisingly the Valley Forge Casino Resort. Parx Casino came in third with only a nominal gain in revenue on annual basis. The property posted $54.508,417 in February 2023 and $53,587,153 in February 2022, posting only a nominal gain. Rivers Casino Philadelphia stood at $47,459,589 in total revenue, gaining 16.81% on February 2022’s $40.629,369.

The PGCB also offered a further breakdown by taking a look at individual segments. All of them have exploded, with sports wagering posting what the regulator claimed to be a 9861.87% revenue gain. The sports wagering revenue stood at $43,230,177 in February 2023 compared to -$442,847 in February 2022. Retail slots revenue was $202,822,213, a 4.18% gain against February 2022’s $194,692,492.

Then again, iGaming slot revenue reached $92,830,999, up 36%.27% on February’s $68,120,783. Overall, results were strong across the board, making for a very good month of February for the Keystone State, with all verticals in an upswing. Even iGaming poker revenue increased during the month by 7.82% to $2,655,713.

Image credit: Unsplash.com

21 Mar 2023
3 min. read
Nobody has commented on this article yet. Be the first one to leave a comment.
Stay up to date
Would you like to be notified about latest gambling news and updates?