September 20, 2023 3 min read

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Gambling Sector in Pennsylvania Posts Strong August Results

While sports betting revenue plummeted last month, the revenue reported by iGaming activities soared year-over-year

The gambling regulator in Pennsylvania, the Pennsylvania Gaming Control Board (PGCB), releases monthly reports revealing details regarding the performance of regulated gambling operators in the state. Such reports include insights regarding the total revenue generated from all forms of gambling, including slots, table games, online gambling, sports betting, video gaming terminals (VGTs) and fantasy contests.

Based on the latest report, released on Tuesday, August was a busy month for the gambling industry across Pennsylvania. Overall, the combined total revenue generated from all forms of gambling last month hit $457.2 million. This result, when compared to the corresponding period in 2022, marked an increase of 7.47%. Although the latest result shows an increase year-over-year, it was no match for the $467 million in total revenue posted by the gambling sector a month earlier, in July.

PGCB’s latest report reveals that during August, all forms of gambling activities managed to generate collectively $189.4 million in taxes. It’s no surprise that this result didn’t surpass the $192 million in taxes posted a month earlier.

iGaming Revenue Skyrockets in August

A breakdown provided by the gambling regulator reveals that revenue reported by online gambling activities last month soared. Overall, the iGaming slot revenue in August hit $105.3 million, a result that marks an increase of 39.03% year-over-year. Similarly, iGaming tables revenue soared, hitting $37.3 million. A comparison to the $28.7 million in iGaming tables revenue from last year shows that an increase of 29.76% is observed this year.

Despite the growth of iGaming slot and table games revenue, retail slots were responsible for the lion’s share of the proceeds last month. Overall, retail slots revenue hit $203.2 million in August this year, up by 0.95% when compared to August 2022. Retail tables revenue increased by 5.38% to $82.7 million last month.

In contrast to the positive results, sports betting revenue in August plummeted to $22 million. A year-over-year comparison to August 2022 when sports wagering revenue hit nearly $34 million shows that this year, a decrease of 35% is observed. Generally, there are fewer sports events taking place during the summer which is why this result doesn’t come as a surprise.

Another decrease in revenue was observed in iGaming poker. Overall, the revenue from the activity in August halted at $2.4 million, down 10.92% year-over-year. The revenue reported by VGTs last month sank by 5.40% to $3.5 million, while fantasy contests revenue decreased by 5.81% to $792,206.

The Majority of Gambling Operators Post Increase in Revenue

This August marked a successful month for the majority of gambling operators in Pennsylvania. Out of the nearly two dozen operators, only 7 posted a year-over-year decrease in their revenue.

Focusing on the positive results, Lady Luck Casino Nemacolin saw its revenue increase by 23.51% year-over-year to $2.1 million last month. A similar percentage of growth was observed with Hollywood Casino at Penn National Race Course’s revenue. Overall, the casino posted a revenue increase of 23.41% to $75.2 million this August.

Valley Forge Casino Resort saw its revenue increase by 14.34% to $48.8 million last month, while Wind Creek Bethlehem posted revenue of $47.1 million, up by 10.18% year-over-year. August was successful for Harrah’s Philadelphia as well, which posted a revenue increase of 12.75% to $19.7 million.

Co-editor

William Velichkov is a research-driven writer. His strengths lie in ensuring factual accuracy, vetting government documentation and reaching out to regulators and other officials. He is particularly fond of financial reporting, the sports betting industry, B2B partnerships and esports betting developments. William is a strong asset to the GamblingNews team as he adds a bedrock to our reporting.

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