Pennsylvania sets $5.04bn gambling revenue record in FY21-22
Pennsylvania set a new gambling revenue record during its 2021-22 fiscal year, generating a total of $5.04bn (£4.19bn/€4.92bn) in the 12-month period.
Revenue was 29.5% higher than the $3.87bn that was reported during FY20-21, which was incidentally also the state’s previous record total.
Land-based gambling drew the highest percentage of revenue during the year, with revenue from retail slots increasing 27.7% year-on-year to $2.41bn, while table games revenue also jumped 40.7% to $1.02bn.
Sports betting revenue edged up 2.2% to $315.8m, though the Pennsylvania Gaming Control Board (PGCB) did not publish a breakdown of online and retail revenue figures for this sector of the market, nor did it disclose handle details.
Valley Forge, along with partner FanDuel, ranked first in the sports wagering sector with $160.1m in revenue, some way ahead of Hollywood Casino at the Meadows’ Barstool Sportsbook on $52.5m and Hollywood Casino at Penn National and DraftKings with $23.8m.
Turning to igaming, revenue reached $1.23bn, an increase of 37.4% on the previous year. While the PGCB did not offer a full breakdown of this market, it did reveal Hollywood Casino at Penn National led the sector with $481.4m in revenue.
Rivers Casino Philadelphia ranked second in the igaming sector with $319.2bn in revenue, then Valley Forge Casino Resort on $221.8m in revenue for the year.
The PGCB also noted that video gaming terminal revenue for the financial year increased by 32.7% to $41.6m, though fantasy contests revenue slipped 3.1% to $27.3m, making it the only area of the Pennsylvania market to experience year-on-year decline.
Meanwhile, the PGCB also published results for the final month of FY2021-22, with total market revenue for June reaching $389.8m, up 0.24% from $388.9m last year, but 13.0% down from $447.8m in May 2022.
Retail slots were the primary source of revenue during the month, with revenue here up by 5.5% year-on-year to $193.0m. However, land-based table revenue edged down 1.9% to $76.1m.
Sports betting revenue dropped 62.7% to $12.8m, with online revenue at $11.4m and retail $1.3m, The PGCB also noted a 6.4% year-on-year decline in handle for the month to $393.5m.
Valley Forge and FanDuel led the market with $5.4m in revenue of $158.2m in total wagers, ahead of Hollywood Casino at the Meadows and Barstool with $1.9m from $88.6m and Hollywood Casino at Penn National and DraftKings on $1.1m off a $24.2m handle.
In terms of igaming, revenue increased by 15.8% to $102.9m, with online slots revenue at $72.3m, internet table games revenue reaching $28.0m and online poker revenue at $2.6m.
Hollywood Casino at Penn National claimed top spot here with $42.0m in revenue, ahead of Rivers Casino Philadelphia on $25.5m, then Valley Forge Casino Resort on $18.4m.
Elsewhere, video gaming terminal revenue climbed by 6.2% year-on-year to $3.5m, while fantasy sports contest revenue declined by 20.4% to $1.5m.