Clicky

Pennsylvania Sets New Record with $5.2 Billion in Gambling Revenue for 2022 - PennsylvaniaCasinos.com News : PennsylvaniaCasinos.com News
report
Published on
Update on

According to the Pennsylvania Gaming Control Board (PGCB), 2022 saw a record year for gambling earnings. Slot machines, table games, sports betting, internet gambling, video gaming terminals (VGTs), and fantasy competitions brought in a cumulative $5,211,303,191 in 2010, up almost half a billion from the year before, according to the PGCB.

Revenue from slot machines was $2,390,757,300, an increase of 4.51% compared to the previous year. The total amount made from table games was $990,568,468; this is an increase of 7.7%. Revenue from sports betting increased by 17.6 percent, to $401,208,108. Income from online gambling increased by 22.5% to $1,364,392,468. VGT earned $42,079,447, while income from fantasy sports tournaments totaled $22,297,399.

Online Gaming and Slots Taking the Lead

Increasing iGaming profits are remarkable because they reflect a radical shift in player preferences in favor of online casinos. Because of the impacts of the COVID-19 pandemic, an increased number of individuals have probably resorted to gambling online as an alternative to conventional casinos that are physically located in brick-and-mortar casinos. With sports wagering income increasing by 17.6 percent, the PGCB determined that online sports betting was a key factor in the industry’s overall development.

The gross income from slot machines in retail establishments was $2,390,757,300 in the latest reporting period, up 4.51 percent from the prior year. While overall slot machine income increased, it varied per casino, with the largest rise (6.18%) coming from Rivers Casino Pittsburgh, followed by increases of (5.2%) from Mohegan Pennsylvania, and (2.69%) from Wind Creek Bethlehem. However, income at Parx Casino dropped by 3.81%.

Casino Operator2022 Revenue2021 Revenue% Change
Hollywood Casino at Penn National$561,241,680$418,872,94233.99%
Rivers Casino Philadelphia$326,394,007$299,329,1779.04%
Valley Forge Casino Resort$255,502,145$190,531,18634.10%
Mount Airy Casino Resort$57,058,899$71,834,484-20.57%
Parx Casino$44,849,716$49,433,816-9.27%
Harrah’s Philadelphia$38,880,322$22,175,05875.33%
Live! Philadelphia$33,139,889$10,756,492208.09%
Mohegan Pennsylvania$22,904,658$26,834,235-14.64%
Wind Creek Bethlehem$16,990,245$12,581,75135.04%
Presque Isle Downs and Casino$7,430,906$10,506,797-29.28%
Statewide Total$1,364,392,468$1,112,855,93722.60%

Great News for State Coffers

Thanks to this all-time high, the gaming industry in 2022 generated a record $2,123,015,118 in tax revenue, up from $1,931,219,603 the year before. Estimates of tax receipts are presented “as is,” meaning they have not been revised by the Pennsylvania Department of Revenue.

In summary, the PGCB study indicates a steady expansion of Pennsylvania’s licensed gaming sector. Despite the problems created by the COVID-19 pandemic, the sector has been able to adapt, and the rise in income from online gambling and sports betting in particular shows that the sector has room to develop. It will be intriguing to see the gaming business develop more over the next years since the potential for income growth remains substantial as additional states legalize and regulate gambling.

Latest Headlines

Pennsylvania Shatters Records with $5.7 Billion in 2023 Gambling Revenue

The Pennsylvania Gaming Control Board announced a record-breaking $5.7 billion in revenue for the state of Pennsylvania in 2023, marking an important milestone for the gaming sector in the Keystone State. The astounding figure represents a substantial increase of 9.3 percent from the prior year and is complemented by a record-breaking tax income of 2.34 […]

Pennsylvania’s Unexpected November Revenue Trends

Data from the Pennsylvania Gaming Control Board shows that in December 2023, the state’s gaming income took a surprising nosedive, mostly due to decreased sports betting operations. Despite a general upward trend in gaming income over the preceding several months and even years, the sector suffered its first year-over-year loss since February 2021 in November, […]

PA Sports Betting Posts Record-Breaking Performance in October

October saw a staggering increase in Pennsylvania’s sports betting handle, reaching an amazing $829.0 million. This mind-boggling sum was a notable 4.0% rise from the prior peak of $797.1 million, boosting the industry to an all-time high. A substantial 18.8% year-on-year gain in sports betting income, reaching $48.2 million, was propelled by the recent spike […]

PA Skill Games Still Battling Their Regulatory Struggles

The Keystone State finds itself embroiled in a contentious debate over proposed regulations for PA Skill games, pitting local businesses against casinos. While the Pennsylvania Senate has been recently deliberating, the two sides hold differing views on the necessity and scope of these regulations. “It is something that’s helping local eateries, convenience stores, and organizations […]

New State Legislation Targets Smoking in Pennsylvania Casinos

For the second year in a row, Pennsylvania State Representative Dan Frankel (D-Allegheny) has spoken out against allowing smoking exemptions at some companies, such as casinos. He has submitted a bill in Harrisburg, the state capital, that would make it illegal to smoke inside casinos and other businesses that are now excluded from the law. […]

Similar Stories in Gambling

Pennsylvania Shatters Records with $5.7 Billion in 2023 Gambling Revenue

The Pennsylvania Gaming Control Board announced a record-breaking $5.7 billion in revenue for the state of Pennsylvania in 2023, marking an important milestone for the gaming sector in the Keystone State. The astounding figure represents a substantial increase of 9.3 percent from the prior year and is complemented by a record-breaking tax income of 2.34 […]

Pennsylvania’s Unexpected November Revenue Trends

Data from the Pennsylvania Gaming Control Board shows that in December 2023, the state’s gaming income took a surprising nosedive, mostly due to decreased sports betting operations. Despite a general upward trend in gaming income over the preceding several months and even years, the sector suffered its first year-over-year loss since February 2021 in November, […]

PA Sports Betting Posts Record-Breaking Performance in October

October saw a staggering increase in Pennsylvania’s sports betting handle, reaching an amazing $829.0 million. This mind-boggling sum was a notable 4.0% rise from the prior peak of $797.1 million, boosting the industry to an all-time high. A substantial 18.8% year-on-year gain in sports betting income, reaching $48.2 million, was propelled by the recent spike […]

Caesars Palace Online Casino Makes a Mark in Pennsylvania

Caesars has released a fresh initiative to strengthen its position in the expanding market of Pennsylvania online casinos. In its new guise as Caesars Palace Online Casino, the company hopes to compete with other top providers in Pennsylvania. Not just in Pennsylvania, but throughout the country, industry behemoths like DraftKings, BetMGM, and FanDuel have a […]