February was a milestone month for online casino gaming in PA. The Pennsylvania Gaming Control Board announced that PA online casino operators recorded $162.3 million in gross gaming revenue (GGR) last month. This brings Pennsylvania’s lifetime online casino revenue total to more than $4 billion, making it the second state in the nation to reach that feat, alongside New Jersey.
Online slots remain casinos’ bread and butter, accounting for almost $3 billion of all lifetime revenue (73.7%). The remainder comes from table games, which brought in $951.9 million, and poker, which accounts for $112 million of PA’s online GGR.
February’s revenue was also the second-highest in the state’s online casino history, which dates back to 2019. Only December 2022’s $166.9 million tops it.
February’s numbers mark the second straight month in which GGR surpassed $160 million and the fifth consecutive month exceeding $150 million. February revenue was nearly $2 million more than in January, representing 1.2% month-over-month growth.
Year-over-year increases were even greater, with revenue increasing 31.2% over last February. At that time, the $123.7 million in GGR was the third-highest monthly total up to that point. Last year was a period of overall growth for online casinos in PA, a trend that is continuing into 2023 so far.
Pennsylvania’s online casino industry continues to grow because of operators like the leading Hollywood Penn National. Penn National leads the state with $1.46 billion in lifetime GGR.
Penn’s brands, including BetMGM Casino, Hollywood, DraftKings, PointsBet and Barstool, combined for almost $70 million in total GGR in February. Together, they led the state in slot revenue ($52.7 million) and table games revenue ($16.7 million).
Rivers has also generated over $1 billion in lifetime GGR through its BetRivers Casino, SugarHouse and Borgata brands, good for second all-time in PA. It maintained that position in February, recording $33.3 million in GGR, nearly all from slots.
Valley Forge (FanDuel, Stardust) came within $1.3 million of passing Rivers, though both online casinos experienced slight decreases in GGR MoM. Every casino further down the list did better in February than in January, except for Mohegan Pennsylvania and Presque Isle Downs.
|Hollywood Penn National||$69,751,878||$52,667,597||$16,725,846||$358,436||$13,252,622||$21,254,559|
|Mohegan Sun Pocono||$2,119,193||$1,613,849||$505,344||$0||$455,200||$625,420|
|Presque Isle Downs||$399||$417||-$18||$0||$378||$16|
As impressive as online casino growth is, it’s only one component of the overall gambling picture in the Keystone State.
Total gaming numbers reached $456.8 million in adjusted gross revenue (AGR) across all retail and online verticals. This showed a 21.6% YoY increase from $375.7 million in February 2022.
Retail slots led the way with $202.8 million in AGR, followed by online slots ($92.8 million) and retail table games ($74.5 million). Parx Casino topped all operators in the state for retail slot and table games revenue, ahead of Wind Creek in both categories.
Pennsylvania online casinos will soon see three new apps enter the playing field. The increased competition will create more opportunities for players, while operators look to lock down as much action as possible.
PlayStar Casino, Golden Nugget and Bally Casino are expected to open their virtual doors sometime this year, though no official launch dates exist yet.
The continued growth of online casinos suggests that the state has not reached the tax revenue ceiling from the industry. New operators will begin to carve out their own markets, but existing operators will likely face more competition in coming months and years.
The effect it will have on the online casino market as a whole remains to be seen.
Lead image: Shutterstock.com
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