Strong June helps igaming revenue reach new heights in Pennsylvania
Keystone State sees 37.4% increase in 2021/22 fiscal year revenue to $1.23bn
The continued rise of igaming has helped Pennsylvania reach new revenue heights through its online casinos, with the state reporting $1.23bn in gross gaming revenue (GGR) from igaming for the fiscal year ending June 30.
The record revenue haul represents a 37.4% increase over the $897.2m the state generated in igaming GGR in the 2020/21 fiscal year.
For the month of June, igaming revenue totaled $102.9m, a year-over-year (YOY) uptick of 15.8% from $88.9m during the same period in 2021.
Of total monthly GGR, $72.3m – or just over 70% – was derived from online slots, while online table games contributed $28.1m. Online poker comprised the remainder of the revenue pie at $2.6m.
Hollywood Casino at Penn National was the overall igaming market leader in GGR for both the month ($42m) and the fiscal year ($481.4m), with Rivers Casino Philadelphia ranking second, at $25.5m and $319.7m, respectively.
On the sports betting side, Pennsylvania’s 18 sportsbook operators combined generated a record $315.7m in GGR for the 2021/22 fiscal year, a modest 2.2% increase from the previous year.
The month of June, however, saw a downtick in betting activity. Sports betting handle totaled $393.5m for the month, a 6.35% YOY decrease from the $420.2m in combined wagers last June.
GGR was down 46% YOY to $22.9m, while taxable revenue amounted to $12.8m after the deduction of promotional spend.
The slowdown is partly a byproduct of the sports calendar, as the NBA was in the heart of its postseason last June, with the playoffs not concluding until late July on account of a COVID-delayed start. In contrast, this year’s NBA Finals wrapped up on June 16.
In terms of operators, FanDuel retained its firm grip on the market, with the Valley Forge-partnered operator accounting for 40.2% of the state’s total handle ($158.2m) and 42.2% of taxable revenue ($5.4m).