Pennsylvania gambling revenue up 10.7% in April due to iGaming growth

Pennsylvania gambling revenue up 10.7% in April due to iGaming growth

Pennsylvania iGaming revenue fell just short of an all-time monthly record in April.

Gambling revenue in Pennsylvania increased 10.7% year-on-year in April following double-digit growth within the state’s iGaming market.

Total commercial revenue in April amounted to $558.7 million from the multiple forms of legal gaming. This was ahead of $504.7 million in the same month last year but 2.8% short of March’s $574.5 million record haul.

Trends noted in recent months continued in April, with iGaming again driving the increase in revenue, according to figures from the Pennsylvania Gaming Control Board. Sports betting revenue was level year-on-year, while there was mixed news from the land-based market, with slots revenue down but table games revenue rising.

A near-record volume of iGaming revenue

Starting with iGaming, revenue across online slots, table games and poker reached $227.7 million. This was 31.3% ahead of last year and just 4.4% behind the record total of March, with its one extra day.

Online slots revenue hiked 34.5% to $169.5 million, while revenue from online table games was up 24.2% to $55.9 million. An additional $2.3 million came from online poker, a drop of 2.8%.

Hollywood Casino at Penn National Race Course and its online gaming partners continued to lead the iGaming sector. Revenue in April topped $83.2 million, an increase of 33.5%.

Valley Forge Casino Resort placed second with $66.7 million, a rise of 38.8%. Rivers Casino Philadelphia took third with $35.9 million for the month, up 17.1%.

Sports betting level in Pennsylvania

Turning to sports betting, revenue hit $42.5 million. This is marginally ahead of the previous year and also clear of March. Online betting revenue topped $41.2 million, with retail at $1.4 million.

Spending-wise, monthly handle in Pennsylvania was $711.6 million. This beat last year by 10.1% and was also ahead of March. As for statewide hold, this stood at 5.97%.

FanDuel, partnered with Valley Forge Casino Resort, was again the market leader. It posted $20.1 million in gross revenue off a $269.8 million handle, for a hold of 7.45%

DraftKings, tied by partnership to Hollywood Casino at the Meadows, was a distant second with $12.1 million off $185.6 million for a 6.52% hold. Bet365, linked to Presque Isle Downs and Casino, took third with $1.9 million from $34.2 million, leaving a 5.56% hold.

Elsewhere, Hollywood Casino at Penn National and ESPN Bet generated $1.7 million from $32.1 million for a hold of 5.3%. BetMGM, partnering with Hollywood Casino Morgantown, was also in the mix with $1.5 million off $60.1 million for a 2.5% hold.

Mixed news for land-based gambling

Looking to the retail sector, land-based slots are still the main source of gambling revenue in Pennsylvania. However, the $203.1 million generated in April fell 1.2% short of last year. Retail table games revenue, meanwhile, was 2.8% higher at $80.6 million.

Video gaming terminal revenue at licensed truck stop locations was down 3.6%. Fantasy sports revenue, however, edged up 2.3% to $1.3 million.

Tax-wise, legal gambling generated $234.5 million for Pennsylvania in April. This included $100.8 million from iGaming, $15.3 million from sports betting, $102.8 million from land-based slots and $13.5 million from retail table games.

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