Pennsylvania surpasses $500m in gaming revenue in single month

The Pennsylvania Gaming Control Board (PGCB) has revealed the numbers for March 2023 covering the gambling industry in the Keystone State. The month of March proved a pivotal moment in the commonwealth’s history of regulated sports and iGaming operations, with Pennsylvania surpassing the half-billion mark in total gaming revenue for the very first time.

Since the state legalized the gambling industry in 2006, and expanded it in 2018, revenue has been climbing steadily up. Yet, March 2023 marks the first time that the state brought in $515,278,831 in a single month of operations. This was ahead by 11.35% of the results generated in March 2022, and it is a signal for several important developments. For one, regulated gambling products such as online casinos and sportsbooks are finally reaching all citizens.

Channelization has been soaring with black market operations gradually losing steam in the Keystone State. The PGCB offered a detailed breakdown of each vertical and the results that were driven by the casinos there. In terms of total revenue, Hollywood Casino at Penn National pulled ahead, registering a 27.02% gain on March 2022 with $80,928,428 in March 2023.

The second highest-grossing business in the state was Valley Forge Casino Resort which jumped by 32.25% year-over-year and posted $68,510,263 in total revenue. Retail slots once again brought the bulk of the total gaming revenue, according to the PGCB data.

Retail slots accounted for $225,408,088 of the total gaming revenue. iGaming slot revenue came next with $104,827,884. Then, there were the results from retail table games, which brought in another $85,880,299. Sports wagering revenue stood at $50,645,259, a massive 66.59% increase on the results posted in March 2022 when the sports betting revenue was only $30,400,581. iGaming table games revenue was half that of the retail games, with $40,471,434 but still an increase year-over-year.

Not all venues in the state posted improvements year-over-year, but those that registered declines didn’t see any major drops in their revenue. The worst impacted was Presque Isle Downs and Casino which lost 20.67% in terms of revenue year-over-year and Lady Luck Casino Nemacolin, which lost 21.12% of revenue year-over-year.

All in all, a strong rebound across all gambling verticals in the Keystone State has made it possible to enjoy the strongest month for the gambling industry in Pennsylvania.

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