Clicky

Pa. Gambling Revenue Tops $3.3B in Fiscal Year 2018/2019 - PennsylvaniaCasinos.com News : PennsylvaniaCasinos.com News
  • 0 views
  • 3 minutes read
gambling-revenue
Published on
Update on
Author

The Keystone State’s massive gambling market continues to grow and as expected, it has been able to generate significant amounts of revenue through various sectors. In fact, it is safe to say that the gaming industry, in one way or the other, has managed to surpass a lot of expectations, a trend that is likely not to go away anytime soon. With the recent entry of online sports betting, online casinos, and online poker, there is even more enthusiasm and optimism with regards to the future of the state’s gaming sector. Already, the expanded gaming industry in the state is showing great results and the revenue generated since the gambling expansion plans took effect is proof.

In tandem with the recent launch of the state’s online gambling sector, the Pennsylvania Gaming Control Board (PGCB) has recently posted the revenue figures for the 2018/2019 fiscal year and as implied earlier, it is quite impressive, to say the least.

In the just-concluded fiscal year 2018/2019, the state generated a whopping $3.3 billion in gambling revenue from its land-based casino operations. This was a 1.8 percent year-over-year increase from the $3.25 billion that was recorded in fiscal year 2017/2018.

From the total gaming revenue, the state coffers received a total of $1.39 billion in tax revenue which was also a significant increase from the $1.3 billion in tax revenue that was collected in the previous fiscal year.

As it turns outs, slot machines are still a force to reckon with in Pennsylvania as they were among the strongest drivers of the gaming revenue. To put this into perspective, the slot machines generated a whopping $2.37 billion. Table games, on the other hand, posted $885.6 million in total earnings which were 1 percent drop from the previous fiscal year.

Enter Sports Betting

Needless to say, the entry of both retail and online sports betting into the Keystone State’s gambling market was a huge gamechanger. In June, which was marked the end of the just-concluded fiscal year, the state’s sports betting industry go a boost from online wagering – in general, sports betting generated a total of $46.3 million in bets during the month of June which is usually considered to be a slow month for sports betting.

What Next?

The Keystone State’s gaming market has matured even though some sectors are undoubtedly ahead of the others. Either way, now that everything in the gaming expansion plan has taken shape in one way or the other, there is definitely a lot more to look forward to in the fiscal year that has just begun.

Editor's Picks

New Online Options Boost Pennsylvania Gambling Revenue

The Pennsylvanian online gambling sector just recently went live and it is already performing very well. According to revenue figures that were recently released by the Pennsylvania Gaming Control Board (PGCB), three of the state’s online gambling sites managed to perform their online sports betting counterparts in August 2019. While online gambling verticals are certainly […]

Harrah’s Philadelphia to Introduce a New Mobile Betting App

Its been just nearly two years since the Keystone State signed off on a massive gambling expansion bid that has propelled the growth of the industry so much that it is anticipated that state’s gambling market will be more valuable than those of any other state in the country. Just recently, online gambling was launched […]

Kindred’s Launches Sportsbook in New Jersey, Sets Sight on Pennsylvania

About three months ago, Kindred debuted its online casino offering in New Jersey, one of the most lucrative gambling markets in the United States. As it turns out, that was just part of the operator’s plans to capitalize on the growing market in the state and it has followed through with the launch of an […]

Similar Stories in Gambling

New Online Options Boost Pennsylvania Gambling Revenue

The Pennsylvanian online gambling sector just recently went live and it is already performing very well. According to revenue figures that were recently released by the Pennsylvania Gaming Control Board (PGCB), three of the state’s online gambling sites managed to perform their online sports betting counterparts in August 2019. While online gambling verticals are certainly […]

Harrah’s Philadelphia to Introduce a New Mobile Betting App

Its been just nearly two years since the Keystone State signed off on a massive gambling expansion bid that has propelled the growth of the industry so much that it is anticipated that state’s gambling market will be more valuable than those of any other state in the country. Just recently, online gambling was launched […]

Evolution Gaming Awarded License in Pennsylvania

Renowned Swedish provider of Live Casino products Evolution Gaming has recently accomplished another huge achievement, a development that is set to have a huge positive impact on its expansion bid in the United States. In a press release that was officially made public last week, the company announced that it had been awarded a conditional […]

Social Casino Space Set to Grow Even Bigger

Nearly every fan of online gambling has had some experience with social casino games – the ones that allow players to place bets using fake currency on a variety of popular casino games. While these are mostly found on mobile gaming platforms and social media sites such as Facebook, they are beginning to take shape […]