Pennsylvania Breaks Sports Betting And iGaming Revenue RecordPublished January 4, 2021 by Sol FH
November was the biggest month ever for Pennsylvania's sports betting and online gambling industry.
Online gambling has hit new heights in the state of Pennsylvania, as the state broke its iGaming and sports gambling revenue records in November. In spite of this rise, the state's land-based gambling revenue is still in decline year-on-year. The total amount of revenue from gambling across online and land-based options was down 2.7% to US$283.3m from US$292.1m.
October was also higher than Novembers' totals of $320.2 according to the Pennsylvania Gaming Control Board (PGCB).
Sports betting was a shining light for the industry, posting a record-breaking total of $37.4m, which is a rise of 153.7% and surpasses the previous record of US$36.8m from October 2020. Online sports betting was the reason for this record, accounting for $31.2m, while in-person retail betting a mere $6.2m.
Year-on-year, punters spent a total of $491.9m in November, which is an increase of 55.4%. This did not break the record set in October 2020 of $525.8m.
The best-performing operator in Pennsylvania was Valley Forge Casino Resort and FanDuel, posting combined revenue of $15.4m up 164.6% year-on-year.
In second place was Meadows Casino with $7.2m, up 411.9% year-on-year. Rounding out third and fourth place was Hollywood Casino and Penn National who saw revenue reach $3.8m.
Only one operator saw a decline; Parx Casino’s South Philly Race and Sportsbook which slipped 73.2% to $90,795.
The state’s iGaming market amounted to $59.8m, representing an increase of 516.5% year-on-year.
Things have been up in the US iGaming and sports betting this year, while land-based casinos and in-person retail gambling locations have dropped significantly. Those land-based operations with online offerings have done well and continue to rise.