In December, Pennsylvania achieved yet another record for revenue from online gaming.
During the second consecutive month, operators in Pennsylvania reported igaming income that was previously unheard of. However, in December, revenue from sports betting decreased as a result of results that were more customer-friendly, which had an effect on the entire industry.
One of the states In December, the total revenue generated from gambling in Pennsylvania amounted to $533.1 million, which is equivalent to £463.5 million or €517.3 million dollars. When compared to the previous year, this is 0.2% lower, and it is also 5.2% lower than the record that was held in November, which was $562.4 million.
During the month of December, the numbers provided by the Pennsylvania Gaming Control Board (PGCB) identify igaming as the most prominent segment in the state. With a monthly sales of $223.6 million, this location achieved a 35.5% increase over December 2023 and an 11.5% increase over the previous record set in November.
Online slot machines contributed 164.3 million dollars to this total, representing a year-on-year increase of 40.5%. The revenue generated from online poker climbed by 2.9% to reach $2.5 million, while the revenue generated from online table games increased by 24.2%.
The month of December saw players spend a total of $4.28 billion on online slot machines, in addition to $3.01 billion on internet table games respectively. What was spent on online poker was not disclosed.
When it comes to the igaming industry, Hollywood Casino at Penn National continues to rank as the operator to beat. The revenue for the month exceeded $86.4 million, which is approximately 41.8% higher than it was in 2023.
When it comes to igaming income, Valley Forge Casino once again came in second position with $61.3 million, representing a 48.4% rise. At $35.2 million, Rivers Casino Philadelphia came in third place, representing a 12.4% increase.
Betting on sports has decreased in Pennsylvania.
When compared to the previous year, the gross gaming revenue (GGR) from sports betting was $21.9 million, which is 69.9% lower. This is also a significant drop from the record haul of $77.1 million that was achieved in November, falling short by 71.6%.
This should not come as much of a surprise given that a number of other states, like New Jersey and New York, also stated that they had a decrease in December. Players have been winning more as a result of customer-friendly results, which has resulted in operators suffering losses.
For the month, the money generated from online betting totalled $21.6 million, while retail revenue was $222,395.
In terms of handle, this surpassed $893.4 million, which is a decrease of 3.5% year-on-year and a decrease of 4.5% from the record $935.5 million that was achieved in November. Online wagering brought in $848.8 million, while retail sportsbooks brought in $44.6 million in revenue for players.
This resulted in Pennsylvania having a state-wide hold of only 2.45% at the conclusion of the month of December.
FanDuel will not be stopped in its tracks.
For the time being, FanDuel and its partner Valley Forge Casino Resort continue to hold the position of market leaders in terms of operators. During the month of November, revenue reached $14.1 million, with a handle of $353.3 million, or a 3.99% hold.
The second best finish went to DraftKings and Hollywood Casino at the Meadows, which brought in $7.3 million off of a total handle of $238.5 million, resulting in a monthly hold of 3.06%. With a hold of 1.72%, ESPN Bet and Hollywood Casino York moved up to third place with a total of $782,109 in wagers resulting from $45.5 million in wagers.
The next two casinos, Parx Casino and Kambi, each had a hold of 3.50%, with a total of $606,330 from a handle of $17.3 million. Another one of FanDuel's partners, Live Casino Philadelphia, came in second with $302,458 after receiving $6.7 million in wagers, which resulted in a hold percentage of 4.49%.
In spite of this, BetMGM and its partner Hollywood Casino Morgantown, which is often among the market's frontrunners, recorded a loss of $259,670 from $66.2 million in wagers. This was due to the impact of negative sports results, which was so significant that it caused them to lose money.
In what other parts of Pennsylvania did something happen?
It was also stated that the land-based casino sector experienced a dip in December, similar to what was seen in other parts of the market. income from physical slot machines decreased by 2.7% to reach $202.1 million, while income from retail table games decreased by 4.3% to reach $79.4 million.
In other news, the revenue generated by video gaming terminals (VLTs) was $3.4 million, which is 0.9% less than the previous year. From the other side of the coin, revenue from fantasy sports increased by 9.7% to reach $2.7 million.
When we consider the amount of tax that was paid in December, it was $223.7 million. Slot machines in retail establishments brought in the most revenue, totalling $102.2 million, followed by table games, which brought in $13.2 million. Around $98.2 million was generated via igaming, $7.7 million from sports betting, $1.8 million from virtual lottery terminals, and $404,660 from fantasy sports.
