{"id":1355,"date":"2020-02-20T09:04:12","date_gmt":"2020-02-20T09:04:12","guid":{"rendered":"https:\/\/www.pennsylvaniacasinos.com\/news\/?p=1355"},"modified":"2020-02-20T09:04:15","modified_gmt":"2020-02-20T09:04:15","slug":"pennsylvania-gambling-industry-posts-17-percent-revenue-increase-in-january","status":"publish","type":"post","link":"https:\/\/www.pennsylvaniacasinos.com\/news\/pennsylvania-gambling-industry-posts-17-percent-revenue-increase-in-january\/","title":{"rendered":"Pennsylvania Gambling Industry Posts 17 Percent Revenue Increase in January"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Things definitely took off on a high note for the Keystone States gambling industry and this is now evident from a <a href=\"https:\/\/gamingcontrolboard.pa.gov\/?pr=894\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"recently released revenue report (opens in a new tab)\">recently released revenue report<\/a>. Pennsylvania&#8217;s gambling industry which consists of 12 licensed casino operators, daily fantasy sports as well as video gaming terminals posted a <strong>17 percent increase in revenue in January 2020<\/strong>. This is definitely a significant improvement when compared to the revenue figures that were posted in January 2019.<\/p>\n\n\n\n<p>According to the Pennsylvania Gaming Control Board, total gambling revenue clocked in at a whopping<strong> $302.8 million with tax revenue clocking in at $124.1 million.<\/strong> Slots contributed the largest amount of revenue for the state, that is, $190.1 million was brought in from the vertical \u2013 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.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"sports-betting-remains-strong\">Sports Betting Remains Strong<\/h2>\n\n\n\n<p>The revenue figures that were released by the Keystone State&#8217;s gaming control board revealed that its <a href=\"https:\/\/www.pennsylvaniacasinos.com\/news\/pennsylvania-sports-betting-posts-more-growth\/\">nascent sports betting industry<\/a> 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.<\/p>\n\n\n\n<p>In January 2020, Pennsylvania&#8217;s 12 sportsbooks handled a whopping <strong>$348,381,708 in sports bets<\/strong>. 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.<\/p>\n\n\n\n<p>In total sports betting revenue totaled to $22.8 million\nwith internet sports betting accounting for $13.9 million of that amount. Gross\nrevenue from sports betting was $31.6 million in January which means that the state\nalso received a substantial amount in tax revenue.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"more-operators-venture-into-pennsylvania\">More Operators Venture into Pennsylvania<\/h2>\n\n\n\n<p>If the revenue figures released by the gaming control board\nare anything to go by, the Keystone State&#8217;s gambling industry remains to be one\nof the most lucrative gaming markets in the United State. A number of gambling\noperators and service providers have noticed this and they are moving in to get\na piece of that pie.<\/p>\n\n\n\n<p>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 <a rel=\"noreferrer noopener\" aria-label=\"fourth state where GiG is making a stop (opens in a new tab)\" href=\"https:\/\/egr.global\/northamerica\/news\/gaming-innovation-group-secures-affiliate-authorization-in-pennsylvania\/\" target=\"_blank\">fourth state where GiG is making a stop<\/a> as it continues with its country-wide expansion bid. Needless to say, the state&#8217;s growing gambling industry is certainly going to impact the company&#8217;s growth strategy in a major way.<\/p>\n","protected":false},"excerpt":{"rendered":"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&#8217;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 [&hellip;]","protected":false},"author":4,"featured_media":921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[21,295,80,97,108],"class_list":["post-1355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","tag-casinos","tag-online-betting","tag-pgcb","tag-revenue","tag-sports-betting"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pennsylvania Gambling Industry Posts 17 Percent Revenue Increase in January - PennsylvaniaCasinos.com News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pennsylvaniacasinos.com\/news\/pennsylvania-gambling-industry-posts-17-percent-revenue-increase-in-january\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pennsylvania Gambling Industry Posts 17 Percent Revenue Increase in January - PennsylvaniaCasinos.com News\" \/>\n<meta property=\"og:description\" content=\"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&#8217;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. 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