Gaming Revenue In Pennsylvania Rose By 14.6% To Reach $547Million In February
According to the Pennsylvania Gaming Control Board, total gaming revenue produced by all types of game activity throughout the month came to $547.1million.
This figure is up 14.6% from the same month last year, illustrating sustained growth in Pennsylvania's Gaming Industry.
Year over year, the Pennsylvania gaming industry has grown steadily, though it has experienced periodic declines in certain sectors.
Overall, data portray an active and flourishing industry with a wide variety of gaming options available to consumers and ongoing demand for those products.
“Pennsylvania has firmly established its place among the largest commercial gaming markets in the US.”
iGaming Continues Record-Breaking Streak
February saw another increase in online gambling, demonstrating a growth trend for the sector.
Internet casinos recorded record-breaking adjusted gross revenues of $239.9m in February, up 15.5% from last year.
Leading the way for internet gaming was Hollywood Casino at Penn National Race Course with reported revenues of $92.7m from iGaming, up 19.4% from last year, followed by Valley Forge Casino Resort with $64.0m (up 13%) and Rivers Casino Philadelphia with $38.7m (up 12.9%).
Retail Slots And Table Games Hold Steady
On the retail side of things, slot machine revenue at the 16 Pennsylvania casinos came in at $192.1m, up 3.1% over last February.
Parx Casino had the highest slots revenue at $29.4m, followed closely by Wind Creek Bethlehem at $21.71m and Rivers Casino Pittsburgh at $20.9m.
Hollywood Casino at Penn National Race Course led all other casinos in revenue with $106.8m of combined slots and other retail products, representing an increase of 19.3% from last year.
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Sports Betting Rebounds Sharply
The sports betting market bounced back after a relatively quiet January.
In Pennsylvania, sportsbooks generated $37.8m in revenue on a combined handle of $592.4m.
Valley Forge Casino Resort topped the list with $18.1m in revenue from a $192.9m handle.
Hollywood Casino at the Meadows was second with $9.7m in revenue generated from a $180.8m handle, and Hollywood Casino York completed the top three with $2.9m in revenue generated from a $50m handle.
“The sports betting market bounced back after a relatively quiet January.”
Strong Tax Contributions To State Coffers
Economic development programs have directly benefited Pennsylvania's citizens through increased gaming activity, driven by higher state tax revenue.
Since February, about $236m in gaming tax revenue has been collected.
The taxes collected will help fund property tax relief programs and other public programs and services in the Commonwealth.
Pennsylvania has firmly established its place among the largest commercial gaming markets in the US since releasing its February figures, with total revenue from all types of gaming only slightly trailing Nevada's.
While online gaming revenues have increased significantly year over year in Pennsylvania, traditional casinos across the Commonwealth have been consistently performing well.
This combination has resulted in a complete and robust gaming market that shows no indication of slowing.
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