The Pennsylvania iGaming Market has broken its record with its revenues reaching over $533 million in December 2024, the second month ever since $205 million was recorded in November. The latest figure represents. This is a record-breaking iGaming review amidst overall declines. Let’s find out more about the different segments of gambling revenue in Pennsylvania.
Overall Gambling Revenue
The total statewide revenue generated by casinos along with VGTs and fantasy contests operated by vendors in Pennsylvania amounted to $533.1 million in December 2024, which shows a decline of around 0.2% in December 2023 and a 0.21% decline from November 2024.
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iGaming: The Stand-Out Segment
The Pennsylvania Gaming Control Board (PGCB) numbers highlight the iGaming sector as the stand-out segment in December with a monthly revenue hitting $223.6 million, around 35.5% ahead of last year’s December and 11.5% above the existing record in November.
Of the total revenue, $164.3 million came from online slots up 40.5% Y-o-Y. Internet table games also projected an increase of revenue by almost 24.2%, followed by online poker edging up 2.9% to $2.5 million.
Players have spent a total of $4.28 billion on slots in December and $3.01 billion on Internet games. Expenditure on online poker was not revealed.
Top Performers in iGaming
The top performers, Pen National’s Hollywood Casino revenue top over 41.8% to $86.4 million, while Valley Forge Casino and Rivers Casino Philadelphia projected revenues of $61.3 million (+48.4%) and $35.2 million (+12.4%), respectively.
Sports Betting Performance
There was a significant revenue drop in sports betting gross gaming revenue (GGR) to a low point of 69.9% year-on-year, amounting to $21.9 million. Compared to November’s -71.6%, this was still an improvement. The total handle came down to $893.4 million by 3.5% Y-o-Y which included online betting and retail betting generating $848.8 million and $44.6 million, respectively.
Leading Operators in Sports Betting
Coming to operators, Valley Forge Casino and FanDuel remain the industry leaders with a revenue of $14.1 million, a $353.3 million handle, and a 3.99% hold.
Hollywood Casino and DraftKings at the Meadows are placed second on the list with $237.3 million, a $238.5 million handle, and a 3.06% hold per month.
Hollywood Casino York and ESPN Bet came third in ranking with $782,109 off $45.5 million in wagers for a 1.72% hold.
Unfavorable results were witnessed by BetMGM which witnessed a loss of $259,670 from its $66.2 million in wagers.
Performance of Other Segments
In other segments of the market, there were significant declines reported in December, especially within the land-based casino sector. The revenue for physical slots declined 2.7% to over $200 million while for retail table games, it dipped 4.3% to, $79.4 million. For video gaming terminals, revenue declined by 0.9% year on year to $3.4 million while fantasy sports revenue jumped 9.7% to $2.7 million.
Tax Revenue
Taking a glance at the tax revenue, the total amount stood at $223.7 million in December 2024 with retail slots generating the most of it at around $102 million and table games at $13.2 million. Around $98.2 million in tax revenue was generated from iGaming, $7.7 million from sports betting, $1.8 million from VLTs, and $404,660 from fantasy sports
