June 21, 2023 3 min read

likes:

Pennsylvania Gaming Revenue up by 7% To $479 Million in May

The recent results reveal an increase in the total gaming revenue reported in May, pushed primarily by iGaming and sports betting

The total gambling revenue reported by licensed operators, including fantasy contests in Pennsylvania last month, increased when compared to May last year, judging by details released by the gambling regulator in the state. The Pennsylvania Gaming Control Board (PGCB), the body tasked with regulation of the gambling activities in the state revealed that the total revenue generated by all forms of gambling, fantasy contests included, hit $479,377,660 in May this year.

Comparison to the result from May 2022, when the total gaming revenue halted at $447,794,294, shows that this year, an increase of 7.05% is observed. Given the total revenue reported last month, the state collected some $197,918,815 in total tax. This result marked an increase of more than $16 million when compared to the $181.6 million in taxes collected for the same period in 2022.

A breakdown provided by the PGCB reveals that the biggest increase in year-on-year was reported by iGaming slot revenue, but sports wagering, as well as iGaming tables revenue also saw an increase. Overall, iGaming slot revenue last month hit $100.6 million, representing an increase of 28.61% when compared to May 2022.

Similarly, a strong growth in revenue was reported by sports wagering and iGaming tables revenue, which hit $41.1 million and $37.9 million, up by 17.41% and 17.33% respectively. Retail slots revenue last month jumped slightly to $210.9 million, or up by 2.53% when compared to the corresponding period last year.

In contrast to the positive results, retail tables revenue dipped by 7.82% to $81.6 million last month, while iGaming poker revenue decreased by more than 11% to $2.5 million. Video gaming terminals revenue marked a decrease of 2.43% to $3.6 million, while fantasy contests revenue plummeted by nearly 23% to $1.2 million last month.

A Dozen Operators Report Increase in Revenue

Details released by the PGCB reveal that Hollywood Casino Morgantown reported the biggest growth in revenue last month, hitting $7.1 million or up by nearly 28% when compared to the result from May last year. Valley Forge Casino Resort was another property that saw an increase in its revenue last month. Overall, the venue reported $64.2 million in total gaming revenue, up by 21.71% when compared to May 2022.

Hollywood Casino at Penn National Race Course saw its revenue increase by 18.33% to $74,4 million last month. This was in fact the highest revenue reported out of all operators in Pennsylvania. Hollywood Casino York’s revenue increased by 16.53% to $8.4 million in May, while Hollywood Casino at the Meadows posted a 7.70% increase in revenue to $25.4 million.

Overall, a dozen operators saw an increase in their revenue last month, while a handful posted a year-over-year decrease.

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.

Leave a Reply

Your email address will not be published. Required fields are marked *