Pennsylvania sees July gambling results jump year-over-year

The Pennsylvania Gaming Control Board (PGCB) has released the results for the full month of July 2024, citing a 7.23% year-over-year increase in overall revenues which ended up at $500,783,633 over the observed period. Yet, the online verticals monitored seemed to grow in leaps and bounds whereas the land-based sector was mostly struggling to stave off a contraction in revenues.

Pennsylvania’s Gambling Revenue Stays Strong amid Slow Land-Based Market

Nevertheless, the PGCB has registered significant gains for the gambling industry, factoring slot machines and table games, video gaming terminals, and similarly – internet gaming, sports wagering and fantasy contests.

Just like last year, in July 2024, Hollywood Casino at Penn National Race Course led the way with $79,506,166, a 13% increase in revenues. Yet, the property did not score the biggest gain over the month in terms of percentage, with Valley Forge CasinoResort seeing its results hit $74,522,981, or a 36.38% increase from 2023, far surpassing those of Hollywood Casino if not in raw revenue, then at least in the improvement posted year-over-year.

Other companies to post significant results were Parx Casino with $54,383,179, although the company admittedly lost 3% revenue year-over-year, and Rivers Casino Philadelphia which hit $49,295,047, which gained 4.80% over the period.

Wind Creek Bethlehem posted $47,555,418, registering a 6.68% decline over the observed period. The biggest loss registered by percentage value was the Rivers Casino Pittsburgh which saw revenue contract by 8.82%.

The biggest gain was earned by Bally’s Pennsylvania, which saw its revenue soar by 141.31% to $3,481,003, still far off from the leading properties in the state in terms of raw revenue, but way ahead in overall net gain in percentage.

Online gambling takes the cake in July 2024 as footfall slows in PA casinos

As to the types of markets that have driven growth across the state, there were several interesting trends to follow for the month of July. For starters, much like in Nevada and New Jersey, retail slots revenue declined during the month, down by 4.83% to $204,305,305 in July 2024.

Retail table games posted a similarly subdued revenue by 4.84% to $79,380,427 pointing to an overall slowdown in the summer month. The biggest gains came from iGaming slot revenue which hit $125.431,608, or a 32.24% gain, and sports wagering revenue, which managed to hit $38,565,690, or a 20.18% improvement on July 2023.

Online poker contracted by 13% to $2,295,672 and fantasy contests edged up a bit by 9.01% to $714,971. Revenue from iGaming table games was similarly up by 31.74% to $46,591,184. The interactive gambling sector has clearly had a bumper month, but whether this has to do with the summer lull or a marked shift in consumer preferences remains to be seen.

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