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Silvia Pavlof March 20, 2023 3 min read
Pennsylvania Gaming Industry Shows Impressive Growth in February
The Pennsylvania Gaming Control Board (PGCB) announced that gaming revenue in February 2023 reached $456.8 million
The results indicate a substantial 21.6% increase from the corresponding period last year.
Pennsylvania Casinos Report Sustained Growth in February 2023 Revenue Figures
Pennsylvania has set a new record for the second-largest revenue month ever in February, capping off a remarkable run of three consecutive record-setting months to the end of 2022. While December was the highest-grossing month on record with $166.9 million in revenue, February’s impressive revenue numbers demonstrate sustained growth in Pennsylvania’s revenue streams. This achievement highlights the robustness of Pennsylvania’s gaming industry
Although the overall revenue was slightly down from January 2023, it still shows a positive trend in the state’s gaming industry. Most casinos in the state reported an increase in revenue, with Hollywood Casino at the Meadows in Meadowlands leading the pack with $26.5 million, a massive 124.1% increase from last year.
Other casinos that saw significant year-over-year gains in February 2023 include Valley Forge Casino Resort with total revenue of $61.4 million marking a 96.6% yearly increase and Hollywood Casino in Morgantown, which generated $6.6 million, a 90.4% increase from the previous year.
Hollywood Casino at Penn National in Grantsville was the state’s top revenue generator, raking in $72.6 million, a 21.9% year-over-year increase. Valley Forge Casino Resort in King of Prussia followed with $61.4 million, and Parx Casino in Philadelphia with $54.5 million.
Pennsylvania’s Gaming Industry Reports Across-the-Board Revenue Growth in February 2023
Slot revenue in February 2023 was $202.8 million, a 4.1% increase from February 2022. Parx Casino led in slot revenue with $30.7 million, while Wind Creek Bethlehem and Rivers Casino Pittsburgh generated $23.3 million and $22.8 million, respectively.
The state’s iGaming revenue in February 2023 totaled $131.6 million, a 28.5% year-over-year increase. Hollywood Casino at Penn National led in iGaming revenue with $56.5 million, followed by Valley Forge Casino Resort with $27.5 million and Rivers Casino Philadelphia with $26.3 million.
Sports wagering revenue in February 2023 experienced an astounding year-over-year increase of 9,861.9%. The total sports wagering handle for the period amounted to $599,529,429, marking a 0.41% increase from the previous year’s figure of $597,064,049. Meanwhile, taxable revenue figures for February 2023 amounted to $43.2 million, a substantial improvement from the negative taxable revenue figure of -$442,847 reported in February 2022.
Valley Forge Resort Casino maintained its position as the leader in sports betting in the state, generating $23.4 million in revenue with a handle of $235.1 million. Hollywood Casino at the Meadows and Parx Casino also saw significant gains in sports betting revenue, with $10.3 million and $1.9 million, respectively.
Overall, the report indicates that Pennsylvania’s gaming industry is experiencing a steady increase in revenue across all sectors.
Silvia has dabbled in all sorts of writing – from content writing for social media to movie scripts. She has a Bachelor's in Screenwriting and experience in marketing and producing documentary films. With her background as a customer support agent within the gambling industry, she brings valuable insight to the Gambling News writers’ team.
Industry March 20, 2023