Eagles Super Bowl win stings Pennsylvania sportsbooks in February
Keystone State operators net $34m in gross revenue, marking the lowest monthly total since August 2023 after stunning Super Bowl win
The Philadelphia Eagles’ Super Bowl win was a boon for most in Pennsylvania except for sportsbooks, which generated just $34m in gross revenue in February according to new data from the Pennsylvania Gaming Control Board (PGCB).
The revenue figure, which represented a 32.6% year-over-year (YOY) drop from the same period of 2024 and a 59.7% plunge from January, was the lowest monthly output for Keystone State operators since August 2023.
February handle amounted to $756.9m, a 14.3% YOY increase from $661.7m in February 2024 that only underscored how badly bettors roughed up the sportsbooks. That equated to a statewide hold of 4.5%.
Although Super Bowl LIX resulted in a record $101.5m handle, the Eagles’ upset of the Kansas City Chiefs gave way to a hefty $6.5m loss on the game.
For the month, when factoring in the deduction of $26.5m in promotional credits, adjusted gross revenue (AGR) checked in at just $7.5m – a 75.3% YOY slump and the lowest AGR month overall since July 2023. As a result, only $2.7m in tax payments were sent back to the state.
Turning to operators, market leader FanDuel emerged relatively unscathed after reporting $21.8m in gross revenue – or nearly 63% of the market – on $284.5m in handle for a solid 7.5% hold.
When factoring in the deduction of $7.6m in bonuses, FanDuel netted $13.7m in AGR – nearly twice as much as the statewide figure, meaning the majority of other operators took it on the chin to varying degrees.
That included DraftKings, which fared much worse than its primary US competitor, generating just $8.7m in revenue on $180.7m in handle, equating to a 4.8% hold that was slightly above the statewide mark.
However, DraftKings also handed out $8.8m in promotional credits, meaning it finished the month $153,840 in the red.
While most operators found themselves in a similar boat as DraftKings, it was a particularly nightmarish month for BetMGM, which lost $1.1m on $58.8m in handle. And that loss swelled to $3.3m when factoring in the $2.2m in bonuses it gave out.
The only saving grace for Keystone State operators in February was igaming, which produced a record $207.7m in gross revenue, a 12.3% YOY increase from $184.9m during the same period of 2024.