Summer slowdown affects June sports betting figures in Pennsylvania
Keystone State’s $464.5m in handle and $43m in gross revenue both lowest marks since August 2023
The summer slowdown in the sporting calendar was in full effect in June for Pennsylvania sportsbooks, which reported $464.5m in total handle for the month, according to new data from the Pennsylvania Gaming Control Board.
The handle figure, which doubled as the first sub-$500m month for Keystone State operators since August 2023, represented a 21.5% month-over-month (MOM) decrease from $591.9m in May. Annual handle, however, was up 24.5% from $373.2m during the same period of 2023.
Gross gaming revenue (GGR), which amounted to $43m in June, saw an even steeper 30.3% MOM downtick from May but a 26.9% year-over-year (YOY) increase from June 2023. Statewide hold was a solid 9.3% for the month.
Adjusted gross revenue (AGR) came to $29.9m for the month after the deductions of promotions.
As a result, $10.2m in tax payments were sent back to the state, pushing cumulative tax revenue to just under $90m through the first six months of the year.
On the operator side, FanDuel continued to hold dominance over the market, accounting for nearly 40% of statewide handle – $181.1m – while generating $21.7m in GGR. That gave way to $15.6m in taxable revenue after the deduction of $6.1m in promotional credits, the most of any Keystone State operator.
DraftKings maintained its firm grip on the number two spot, totaling $130.4m in handle and $11.4m in gross revenue while doling out $3m in promotional credits.
BetMGM registered as a distant third on the podium after accepting just under $36m in bets, from which it generated $2.3m in GGR. BetMGM also remained aggressive by handing out $1m in promotional credits.
Fanatics, meanwhile, continued its push in Pennsylvania by spending $1.2m on promotions – making it the only other operator to surpass $1m on bonusing in June – which helped contribute to $16.9m in handle and $1.9m in gross revenue.