- Pennsylvania’s sports betting handle grows
- Mobile accounts for 2/3 of all betting activities
- Daily fantasy sports notch up a 50% growth
Pennsylvania posted strong results in July generated by the retail and online sports betting verticals in the Keystone State.
Pennsylvania’s Mobile Betting Drives Better Results
Sportsbooks in Pennsylvania have posted strong results for July, collecting $59.3 million in total digital bets over the month. Despite most sports contests being in the offseason, mobile completely beat retail operations, which stood at $39 million. This was the first month land-based venues had fallen behind.
Overall, sportsbooks generated $5.1 in revenue and had to pay nearly $970,000 in taxes. Plus, the overall revenue was slashed by additional $2.9 million because of bonuses. While the roll out of mobile betting has been strong in the Keystone State, promotional campaigns cost companies $2.2 million, leaving only $665,798.
A Look at the Operators
Rush Street’s SugarHouse Casino topped the market in the month. The casino brought in as much as $26.5 million in total handle. The revenue stood at $540,766 after discounting bonuses. SugarHouse got a head start as it was the first property to actually launch online operations in the state.
The total online handle hit the staggering $22.2 million and revenue hit $1.5 million, a 22% jump in operations. Plus, SugarHouse launched the first iOS dedicated betting app in Pennsylvania. Yet, the market has been saturated with quite a few strong offers. The full break down was published by the state’s Gaming Control Board.
For instance, in July, SugarHouse commanded 94% of the online market, but this number fell down to 56.8% as of July, which is only now going to bite into the potential profits of the brand. Yet, SugarHouse doesn’t seem to fear competition much.
Rivers Casino, another one of the brand’s casinos, has done quite well, bringing in $14.3 million and generating $1.2 million. Rivers didn’t break even, though, losing some $250,941 in the end. Once again, most of this was occasioned by the competitiveness of the market, the exorbitant licensing agreement and the fact that the casino was facing too much similar rivals.
Greenwood Gaming & Entertainment’s Parx Casino took the comfortable 3rd spot in terms of total handle. The revenue the casino hit reached $751,129, a good overall amount, with total handle reaching $7.2 million.
Daily Fantasy Sports Remains Strong and Grows
FanDuel’s Boyd Gaming’s Valley Forge Casino managed to eke out $133,730 in revenue and $5 million in total wagers. Meanwhile, Pennsylvania has kept its appetite for daily fantasy sports, with the segment posting strong results.
DraftKings got $681,932 in revenue, notching up a whopping 56% increase over the period. Flutter Entertainment’s FanDuel was again second to its main rival, but it came very close overall. The DFS revenue was a close $543,810 for the operator.