In August 2024, Pennsylvania’s gambling revenue hit $ 525.5 million, representing 14.9% YoY growth and a 4.9% MoM rise. The increase occurred primarily due to the dynamically developing iGaming sector.
Key Notions from the State’s Financial Report
While land-based operations delivered the biggest figures in the total income pool, online activities experienced a rapid boost. Meanwhile, sportsbooks had minor fluctuations but still showcased great performance.
Let us review the financial situation in detail:
iGaming
Online entertainment services brought in $ 183.7 million in the last weeks of the summer, 29% more than in 2023. This monthly figure is the 2nd-highest ever after March 2024, when the region gained $ 191.1 million.
Revenue distribution within the iGaming category:
- slots — $ 138.3 million;
- tabletops — $ 43.2 million;
- poker — $ 2.2 million.
Hollywood Casino at Penn National Race’s achievements led the internet sector with $ 72.1 million. Valley Forge Casino’s great financial results placed it in the 2nd place, revealing $ 46 million. With a slight gap, Rivers Casino Philadelphia’s $ 30.8 million closed the trio of local frontrunners.
Bookmakers
GGR in the sports betting segment accounted for $ 45.4 million in the reporting period. This figure represents a 48.4% YoY uplift but a 13.9% MoM decrease. Excluding marketing expenses, the taxable revenue hit $ 30 million.
In this category, online operations also demonstrated the finest results. Digital wagering brought in $ 25.5 million, while land-based activities reached $ 4.5 million. The total handle for the last summer month stood at $ 485.3 million, 23.5% higher than in 2023.
Leading bookmakers (revenue and overall bets):
- FanDuel — $ 13.3 million ($ 176.5 million).
- DraftKings — $ 7.8 million ($ 124.4 million).
Physical Establishments
Ground gaming once again had the largest share of the general industry income:
- slot machine turnover was $ 211.1 million in the reporting period, up 3.9% YoY;
- tabletops experienced a slight drop of 2.1% to $ 81 million;
- video terminals rose by 5.7% to $ 3.7 million;
- fantasy sports gained $ 647,522, an 18.3% yearly decline.
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