Pennsylvania Gaming Revenue Nearly $444.5M in November

Posted on: December 20, 2023, 11:13h. 

Last updated on: December 20, 2023, 11:25h.

The Pennsylvania Gaming Control Board (PGCB) reports that November gaming revenue topped $444.4 million, a nearly 2% year-over-year decline.

Pennsylvania gaming revenue sports betting
Pennsylvania sports bettors in November risked more money than they ever have before in a single month. But oddsmakers reported poor win rates, which caused Pennsylvania gaming revenue to dip. (Image: USA Today)

Last month’s 1.7% drop in gross gaming revenue (GGR) was primarily because of a poor monthly performance from oddsmakers.

Despite taking more than $900 million in bets for the first time, and the $934.1 million in wagers representing an all-time monthly handle record, sportsbooks kept just $12.8 million. Sportsbook income was down 76% from November 2022 when they won $52.8 million from bettors.

Bettors fared well on the NFL’s Philadelphia Eagles, who won all three of their November games. The Pittsburgh Steelers also went 3-1 during the month.

Pennsylvania’s 17 brick-and-mortar casinos offset some of the sportsbook losses, with retail slots winning about $189.7 million, a 2% year-over-year premium, and tables winning $77.8 million, down 1.7%. The combined in-person GGR of approximately $267.6 million represented a 1% increase — or $2.8 million — from November 2022.

Pennsylvania’s November GGR of $444.4 million from casinos, sportsbooks, iGaming, truck stop slots, and fantasy sports ranked third in the US in terms of monthly gaming win. New Jersey edged Pennsylvania at $482.4 million. Nevada hasn’t yet unveiled its November numbers, but statewide gaming revenue will likely come in north of $1.3 billion.

iGaming Continues Growth

While the state’s legacy casinos continue to increase GGR, their online casino platforms continue to attract new players and expand internet play.

Interactive slots won $109.3 million in November 2023, a 26% surge on the previous November. Online table games won $46.4 million, a nearly 18% jump, while online poker rake added about $2.3 million.

The combined iGaming win of $158 million represents a 23% spike on November 2022, an increase of more than $29.4 million, and 2% rise from October 2023.

Penn Entertainment, which operates four casinos in the Keystone State, including Hollywood Casino at Penn National Race Course, Hollywood Casino York, Hollywood Casino at the Meadows, and Hollywood Casino Morgantown, is the iGaming leader. The Hollywood Casino platform, which was recently converted to the company’s ESPN Bet digital sportsbook and iGaming network, accounted for more than $61.1 million of the internet GGR.

Boyd Gaming’s iGaming business through its Valley Forge Casino Resort’s partnership with FanDuel came in a distant second at $41.1 million. FanDuel leads in sports betting, as the retail and online sportsbook took over $384 million in bets last month and won $8.4 million.

Revenue from truck stop slots, which are technically video gaming terminals, slid about 4% to $3.4 million. Fantasy sports contest fees totaled $2.5 million, a 2% improvement.

Wind Creek Narrows Parx Lead

Parx Casino north of Philadelphia has been leading the Pennsylvania gaming industry for many months. One of only two fully smoke-free casinos in the commonwealth, with the other being its sister satellite casino Parx Casino Shippensburg, Parx Philly maintained its frontrunner status in November. But Wind Creek is closing in.

Parx won $29.7 million on its in-person slots last month. Wind Creek placed second, with its terminals winning $22.8 million.

Wind Creek led on the felt with its tables winning $20.9 million. Parx’s tables placed second at $15.6 million.

The monthly retail GGR for Parx was $45.39 million. Wind Creek’s retail win totaled $43.74 million.

Source link

Related Articles

Back to top button