Clicky

Pennsylvania Gambling Industry Posts 17 Percent Revenue Increase in January - PennsylvaniaCasinos.com News : PennsylvaniaCasinos.com News
raining-cash
Published on
Update on

Things definitely took off on a high note for the Keystone States gambling industry and this is now evident from a recently released revenue report. Pennsylvania’s gambling industry which consists of 12 licensed casino operators, daily fantasy sports as well as video gaming terminals posted a 17 percent increase in revenue in January 2020. This is definitely a significant improvement when compared to the revenue figures that were posted in January 2019.

According to the Pennsylvania Gaming Control Board, total gambling revenue clocked in at a whopping $302.8 million with tax revenue clocking in at $124.1 million. Slots contributed the largest amount of revenue for the state, that is, $190.1 million was brought in from the vertical – this was a 5.8 percent increase from the same period last year. Table games, on the other hand, accounted for $72.5 million of the total revenue which is a 2.4 percent increase from what was recorded last year. The renowned Pennsylvanian video gaming terminals (VGTs) accounted for $1.1 million while the daily fantasy sports sector brought in $2 million.

Sports Betting Remains Strong

The revenue figures that were released by the Keystone State’s gaming control board revealed that its nascent sports betting industry is actually doing quite well. Compared to the same period in 2019, the sports betting sector managed to achieve a 16.9 percent revenue bump in January 2020. The revenue also grew month-over-month which shows that this was definitely not luck.

In January 2020, Pennsylvania’s 12 sportsbooks handled a whopping $348,381,708 in sports bets. As expected, a huge chunk of this revenue was from digital sports betting which has been increasing in popularity as more players get into the space.

In total sports betting revenue totaled to $22.8 million with internet sports betting accounting for $13.9 million of that amount. Gross revenue from sports betting was $31.6 million in January which means that the state also received a substantial amount in tax revenue.

More Operators Venture into Pennsylvania

If the revenue figures released by the gaming control board are anything to go by, the Keystone State’s gambling industry remains to be one of the most lucrative gaming markets in the United State. A number of gambling operators and service providers have noticed this and they are moving in to get a piece of that pie.

The most recent entrant into the gaming market is Gaming Innovation Group (GiG) which this week, received authorization from the state regulator to offers its services. This is the fourth state where GiG is making a stop as it continues with its country-wide expansion bid. Needless to say, the state’s growing gambling industry is certainly going to impact the company’s growth strategy in a major way.

Latest Headlines

PokerStars Pennsylvania Adds New Home Game Feature

Back in January 2011, PokerStars began experimenting with a Home Game features in a number of jurisdictions across the world. In the United States, this was only available for a limited period of time since its launch was closely followed by a countrywide crackdown on illegal online gambling. PokerStars was one of the casualties of […]

Rush Street Interactive Partners with Scientific Games for Pa.

Rush Street Interactive which is one of the most accomplished gambling operators in the United States has recently inked a lucrative partnership with global gaming solutions provider Scientific Games. The partnership is primarily geared toward providing top-notch gaming services to the nascent but rapidly growing online gaming market in the Keystone State. That said, customers […]

Penn National Gaming to Furlough 26K Workers and Sell Tropicana

On March 27, renowned gaming operator Penn National Gaming Incorporated announced that it would be implementing additional measures in a bid to mitigate against the impacts of the COVID pandemic. The company’s management stated that the moves were unavoidable particularly because of the uncertainty regarding when things will go back to they were. Therefore, there […]

Pennsylvania’s Online Gambling Revenue to Surge in March

The global gambling industry is one of the sectors that is feeling the pinch due to the effects of the global COVID-19 pandemic. In the Keystone State, things are no different with several retail gambling destinations having closed down temporarily as parts of the efforts to contain the spread of the virus. Even so, online […]

Pennsylvanian Man Wins Massive Jackpot While Self-Isolating

The COVID-19 pandemic is still here with us and most land-based casinos have already shut down their businesses. In Pennsylvania, efforts to contain the spread of the virus have become quite aggressive with calls for the shutdown of most social spaces including the casinos. Now, gamers have had to stay at home and this has […]

Similar Stories in Gambling

Pennsylvania’s Online Gambling Revenue to Surge in March

The global gambling industry is one of the sectors that is feeling the pinch due to the effects of the global COVID-19 pandemic. In the Keystone State, things are no different with several retail gambling destinations having closed down temporarily as parts of the efforts to contain the spread of the virus. Even so, online […]

Pennsylvania Gambling Regulator Releases February Revenue Figures

On Wednesday, the Pennsylvania Gaming Control Board (PGCB) released the February revenue figures for the state’s gambling industry. Needless to say, the state has one of the most lucrative betting industries in the United States and this has been proven by all the previous revenue reports. According to the state gaming regulator, the existing 12 […]

Pennsylvania Casinos Begin Closure Due to Coronavirus

As the recent coronavirus outbreak continues to spread across the globe, the United States is beginning to feel the pinch. A number of changes have already been implemented in a bid to deal with the issue. In Pennsylvania, one of the ways that are being used to combat the spread of the virus is the […]

How to Keep the Betting Action Going in the NFL Offseason

The end of February marked the end of the NFL season and for the fans of the league, this marked the beginning of a rather dull offseason period. Now the huge gap between the NFL seasons can be quite frustrating because, aside from the games, the fans also miss out on other exciting stuff such […]