Pennsylvania Gaming Revenue Hits New $462.7M Record in March

Judging by figures released by the gaming regulator in Pennsylvania, the gaming industry in the state has seen a record-breaking revenue last month.

Gambling Operators Set a New Record This March

The Pennsylvania Gaming Control Board (PGCB) released its latest report, revealing the gaming revenue reported by licensed operators for March. Without any doubt, last month was successful for the gaming industry, considering the $462.7 million in reported revenue. This result surpassed the $432.5 million revenue record that was set back in November 2021.

According to the regulator, the gaming revenue increase was mainly driven by two gambling sectors. Those are retail table games and internet casino-type gambling. The former’s revenue exceeded $90 million in March, while the latter’s revenue exceeded $110 million. Both activities marked a record last month. In March 2021, the total gaming revenue in Pennsylvania hit $403.1 million. A year-over-year comparison for the same period shows that this year, the revenue increased by nearly $60 million or 14.79%. On the other hand, taxes from all forms of gambling including fantasy contests hit $187.0 million in March, according to the regulator.

The PGCB Reveals a Breakdown of the Gaming Revenue

A breakdown of the $462.7 million in gambling revenue shows that retail slots revenue hit $214.7 million, up 7.74% from the $199.3 million reported in March 2021. Table games revenue last month hit $94.3 million, up 32.12% when compared to the $71.4 million in revenue from the same period a year ago.

The revenues for iGaming slots and table games showed a similar increase. Last month, iGaming slots revenue hit $79.2 million, up 19.23% from the $66.4 million in revenue during March 2021. On the other hand, iGaming tables revenue in March 2021 halted at $28.9 million. This year, in March, iGaming tables revenue hit $35.7 million, up 23.62%. Additionally, iGaming poker revenue increased significantly last month. Overall, in March, $3.2 million was reported in iGaming poker revenue, marking a 34.91% increase.

Similarly, sports wagering revenue increased as well. Last month, sportsbooks in Pennsylvania reported $30.4 million in revenue. This marks a 3.57% increase when compared to the $29.4 million in sports wagering revenue for the same period the prior year. The revenue for video gaming terminals (VGT) hit $3.8 million last month, up 5.16% from the $3.6 million reported in March last year. In contrast to the positive results, the revenue reported by fantasy contests decreased by 22.71% to $1.4 million.

Operators in the State Enjoy a Successful Month

March proved to be a successful month for the Valley Forge Casino Resort. The venue reported $51.8 million in revenue last month. This marked a significant 40.37% increase from the $36.9 million reported for the same month in 2021. Wind Creek Bethlehem’s revenue last month hit $47.3 million, up 33.65% from the $35.4 million reported in March last year.

Live! Casino Philadelphia and Rivers Casino Pittsburgh both reported a year-over-year revenue increase of more than 20% in March. The former’s revenue hit $25.1 million, while the latter reported $35.5 million in revenue this March. Live! Casino Pittsburgh has seen its revenue increase 19.81% to $10.0 million last month, while Presque Isle Downs and Casino’s revenue hit $11.5 million, marking a 10.79% increase.

The highest revenue during March was reported by Hollywood Casino at Penn National. The venue’s proceeds last month hit $63.7 million, up 11.44% when compared to March 2021. The second-highest revenue was reported by Parx Casino, $60.5 million, down 1.67% when compared to the $61.5 million from the same period in 2021. Last but not least, Rivers Casino Philadelphia’s revenue in March hit $54.5 million, up 12.8% when compared to the same period a year ago.

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