Philadelphia, PA
- February turned out to be another fruitful month for Pennsylvania online casinos as well as their brick & mortar counterparts. This goes in line with PA casinos retaining a forward momentum for the second month in 2023. Indeed, the gambling industry does appear to be booming this year with no signs of slowing down. But what lies beneath its success and can any of its financial outcomes be attributed to anything in particular? Sit back as we take a more detailed look into the region’s casino industry’s performance.
Discover Where the Action Is Taking Place With an Interactive Pennsylvania Casinos Map
To help you locate the most active casinos in Pennsylvania, the contributors at Casinos.us have created an interactive map that displays where the action is to be found. At the same time, it serves as a list of casinos in Pennsylvania, effectively summarizing their strongest competitive advantages, such as the number of table games on offer, the size of the casino, plus other key takeaways you can read more about in their reviews section.
A 21.6% Month-to-Month Increase in Revenue
The report comes from none other than the region’s Gaming Control Board itself, a Pennsylvanian gaming regulator that initiated an iGaming license bidding process in January. The regulator cites a 21.6% month-to-month increase in revenue generated by PA casinos, the total of which stands at $456.83m. This is a combined revenue collected from table games, sports wagering, video gaming terminals, slots, and fantasy games.
A Welcome Sight for the Government Tax Coffers
The success brought about by Pennsylvania online casinos and their offline cousins alike is not only to be celebrated by the establishment owners themselves; the revenue generated also benefits the government coffers through taxation. Although the tax revenue collected across the industries in Pennsylvania has undergone certain changes over the years, at the end of the day, it’s what supports and powers the local infrastructure.
Thanks to the efforts of PA casinos, the tax collected in February totaled $188.97m. This covers all forms of gambling, including fantasy contests.
A Look at the Top Performers of the Month
Without a shred of doubt, Hollywood Casino at Penn National tops the list of casinos in Pennsylvania with an impressive $72.56m in revenue collected. In the same period of last year, they managed to bring in only a $59.5m comparison, which makes for a 21.94% year-on-year increase.
The silver medal goes to the Valley Forge Casino Resort and its $61.35m in revenue collected, an impressive 94.57% year-to-year increase. Such an impressive year-on-year difference can only be topped by Hollywood Casino at the Meadows and its 124.13% rise in numbers – an honorable mention since it cannot compete based on revenue collected alone (which stands at $26.53m).
The third place goes to Parx Casino and its $54.5m in revenue generated. It’s a 1.72% year-on-year increase that signals stability. At the end of the day, the joys of staying in downtown Pennsylvania have numerous advantages, and tourists have shown a preference for those establishments with the capacity to provide decent accommodation.
The Top-performing Categories
This time around, iGaming brought in $131.62m, a 28.52% year-on-year increase ($102.41m previously). As for the leading genres, slots took the cake with $92.83m generated, a fan favorite in Pennsylvania online casinos (previously, they brought in $68.12m, making for a 36.27% increase).
Table games followed closely behind at 36.13%, a 15.03% year-on-year increase. Interestingly, poker appears to be on the decline in Pennsylvania online casinos, bringing in only $2.65m ($2.88m previously).
The Top-performing Online Establishments
In the digital domain, the trophy goes to Hollywood Casino at Penn National – with $56.49m in revenue, it’s an example for other providers to look up to. Valley Forge and Rivers Casino placed closely behind, with $27.46 and $26.28, respectively.
The Online Casino Fan Favorites in Numbers
Unsurprisingly, online slots dominated the digital space with $202.82m in revenue generated. Compared to the same period last year, this is effectively a 4.18% increase ($194.69m previously). Retail table games keep riding the stable train of popularity, bringing in $74.5m.
Sports betting turned out to be another massive breadwinner this year, generating $599.52m. Although making for only a rough 1% increase from the same period last year, it’s hard to argue with a giant of this size, especially for those who are into the adventurous side of Pennsylvania and sports themselves. Finally, the video game terminals generated $3.31m, a year-on-year increase of 9.28%.
Compared to the previous year’s $1.6m, fantasy contests brought in just $1.34m, amounting to a 16.34% decrease.
Conclusion
Overall, PA casinos did a fantastic job in February, clearly making the case that the industry is going strong. To the surprise of no one, people like slots just as ever, and once again, the genre has proven itself to be the most popular fan-favorite of all time. Here’s to ongoing success in the future!
