Pennsylvania Gaming Revenue Totals $521M in May, iGaming Responsible for Growth

Pennsylvania’s gaming industry continues to grow. Fresh off its best year ever where gamblers lost a record $5.7 billion, the Keystone State’s gaming operators have maintained their momentum in 2024.

Pennsylvania gaming revenue casino GGR
Chips are stacked on a roulette table. Pennsylvania casinos won almost $521 million in May. Online casinos drove the continued revenue momentum. (Image: Unsplash)

The Pennsylvania Gaming Control Board (PGCB) on Tuesday revealed that May gaming win was nearly $521 million. Gamblers lost a combined $520,997,868 playing casino slot machines and table games, betting on sports, gambling online, and through other verticals. The revenue number doesn’t include lottery losses.

May’s gross gaming revenue (GGR) represented a 9% year-over-year increase on May 2023 when operators won approximately $479.4 million.

Each month this year has experienced year-over-year revenue gains. 2024 so far was highlighted by March, when the state gaming industry reported its best month ever with GGR upwards of $554.6 million.

Battle for Second

Nevada continues to be the richest gaming state in the US. Silver State casino revenue last year was a record $15.5 billion, which marked Nevada’s third consecutive year of reporting a new GGR high.

New Jersey and Pennsylvania have been battling for the title of the second-richest gaming state over the last couple of years. Pennsylvania unseated New Jersey in 2022 by just $28,735, as Pennsylvania’s GGR of $5,211,303,191 edged the Garden State’s GGR of $5,211,274,456.

New Jersey regained the second spot in 2023 with GGR of more than $5.77 billion, about $70 million more than Pennsylvania.

Through the first half of 2024, Pennsylvania GGR totaled $2,556,551,344. New Jersey gaming revenue from January through May totaled $2,567,771,975, a difference of about $11.2 million.

May Numbers

iGaming platforms were most responsible for the May uptick in Pennsylvania GGR. Online slots generated revenue of $126.9 million — up 26% — while interactive table games won $44.9 million, a 19% year-over-year improvement.

Retail play also made gains, however, as brick-and-mortar slots and tables combined to win roughly $297.85 million. That represented a 2% increase from May 2023. Pennsylvania is home to 17 physical casino properties.

Oddsmakers kept $44.2 million of the more than $591.9 million in bets wagered. Just $2.6 million of the win came from bets placed in person.

The FanDuel Sportsbook, which is partnered with Valley Forge Casino Resort in the Philly suburbs, continues to control the sports betting market in Pennsylvania. FanDuel accounted for $22.8 million of the May hold.

Video gaming terminals in truck stops added $3.7 million in revenue, up 3%, while fantasy sports charged $1.15 million on contest commissions. The fantasy sports industry continues to decline, as the May number was 5% lower than May 2023. Online poker rake totaled $2.27 million, down 9% from a year ago.

Parx Casino, one of only two nonsmoking casinos in Pennsylvania, led retail play with $32.6 million in slot revenue and $18.3 million on the felt. Wind Creek Bethlehem was second with slot win of $24 million and felt income of $20.2 million.

Efforts continue in the Harrisburg capital to eliminate tobacco smoking from the casino floors. Proponents of ending the casino smoking loophole have regularly pointed to Parx leading the state gaming industry in terms of retail GGR.

The post Pennsylvania Gaming Revenue Totals $521M in May, iGaming Responsible for Growth appeared first on Casino.org.

Leave a Reply

Your email address will not be published.