Pennsylvania’s Sports Betting Handle Soars Past $900M in November

The total revenue for November 2023 was $444 million, or a contraction of 1.74% compared to results posted during the same month last year. Regardless, the Pennsylvania Gaming Control Board and the industry as a whole have much to be cheerful about. 

Sports Betting Soars with Two Notable Winners

This is the first time that the state’s sports wagering handle crossed the $900 million threshold, in line with betting moods all over the nation, which drove New York’s handle well past the $2.2-billion mark.

Sports wagering handle halted at $934.1 million in November, with the total revenue scored by 18 sportsbooks and operators sitting at $12.88 million. Naturally, online revenue once again pulled ahead with $10.3 million of the total, trailed by $2.56 million by retail operations. Some venues did fairly well in terms of retail performance, but results were generally low.

The winner in retail was the Parx Casino which drove a revenue of $756,756 from in-person wagers, and ahead of the $252,573 generated through online wagers, for a total of $1 million of the total revenue. Parx Casino saw a handle of $24.47m, well beyond the leaders in the segment.

Valley Forge Casino Resort and Hollywood Casino at the Meadows posted negligible retail revenue results, $13,255 and $20,451 respectively, but they soared in terms of total betting handle and online revenue. The Valley Forge Casino Resort property managed to pull a total of $384 million in terms of sports wagering handle, translating into $8.38 million in terms of online revenue.

Hollywood Casino at the Meadows was a distant second with the sports wagering handle hitting $253 million and translating into $7.8 million revenue. All in all, Hollywood Casino at the Meadows had the better hold of the two properties.

Hollywood Casino at Penn Flags in Sports But Dominates iGaming

Most other results paled in comparison with one notable loser being Hollywood Casino at Penn National, which managed a total handle of $66.8 million but ended up losing $16,394 in retail and $7.8 million on online wagers.

In terms of overall revenue and operations, most of the companies saw a contraction compared to their results last year. Even Hollywood Casino at Penn and Valley Forge Casino Resort posted -6.45% and -6.26% when factoring in the revenue from all of their operations, including casino gaming.

The biggest winner from iGaming revenue was Hollywood Casino at Penn National which outperformed everyone in the iSlots and iTables verticals, topping the revenue chart with $61.1 million. The monthly results for this entire sector stood at $158 million.