Pennsylvania’s Gambling Industry Sets New Revenue Records in 2023

The Pennsylvania Gaming Control Board announced on January 18 that 2023 marked a historic year for the state’s gambling industry, reporting an unprecedented $5.7 billion in combined revenue. This impressive figure represents a substantial 9.3% surge compared to the previous year.

iGaming Ignites Pennsylvania’s Gaming Boom with a Staggering 28% Surge

The surge in revenue can be attributed to various gaming segments, with iGaming taking the lead with an astonishing 28% increase, contributing a substantial $1.74 billion to the overall figure. 

Slot machines also played a crucial role, generating $2.46 billion in revenue, making them the highest-grossing segment across the state.

Table games, sports wagering, video gaming terminals, and fantasy contests collectively contributed to the record-breaking revenue. According to the Pennsylvania Gaming Control Board, monthly gaming revenue surpassed the $500 million mark for the first time since the inception of legalized gambling in 2006.

A notable example from the past year is the November results for sports betting. November 2023 was the month when Pennsylvania’s sports betting handle reached a record-breaking $934.1 million, marking the first time it surpassed $900 million. 

The Keystone State’s tax coffers also benefited immensely, recording a record $2.34 billion in tax revenue, surpassing the 2022 figure of $2.12 billion.

A Closer Look at Pennsylvania’s Top Casinos’ Revenue Triumphs in 2023

In a detailed breakdown, the Pennsylvania Gaming Control Board provided insights into the revenue generated by individual casinos. The Rivers Casino in Pittsburgh emerged as a significant contributor, reporting over $267 million from slot machines, $87 million from table games, and $16 million from sports wagering.

Notably, 2023 marked Wind Creek Bethlehem‘s outstanding performance, leading the state in table-game revenue at $241.2 million. Parx Casino in Bucks County secured second place with $202 million in table-game revenue.

While Wind Creek Bethlehem demonstrated its prowess in table games, Parx Casino led the state in slot machine revenue, amassing $386.2 million, even though it marked a 2% decrease. Wind Creek followed closely with $285 million in slot revenue, representing a commendable 4.7% increase.

The iGaming sector saw significant growth for Wind Creek Bethlehem, boasting a 32% improvement and securing $22.5 million in revenue. This surge, however, paled in comparison to Hollywood Casino at Penn National, which dominated the iGaming scene with an impressive $712.4 million in revenue.

Despite the overall success, Wind Creek Bethlehem faced a setback in sports wagering, experiencing a decline of more than 60% to $719,299 from $1.8 million. Valley Forge Casino Resort in Montgomery County led in this category, reporting $233.5 million, an 11.2% increase.

As the state continues to reap the benefits of a thriving gambling industry, analysts speculate that Pennsylvania may soon challenge New Jersey for the top spot in the national gaming landscape.