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 Operator||2022 Revenue||2021 Revenue||% Change|
|Hollywood Casino at Penn National||$561,241,680||$418,872,942||33.99%|
|Rivers Casino Philadelphia||$326,394,007||$299,329,177||9.04%|
|Valley Forge Casino Resort||$255,502,145||$190,531,186||34.10%|
|Mount Airy Casino Resort||$57,058,899||$71,834,484||-20.57%|
|Wind Creek Bethlehem||$16,990,245||$12,581,751||35.04%|
|Presque Isle Downs and Casino||$7,430,906||$10,506,797||-29.28%|
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.