The PGCB Reports a 5.8% YoY Increase in AugustPublished October 8, 2020 by Brett C
The Pennsylvania Gaming Control Board recently announced a 5.8% revenue increase (year-on-year) in August 2020. The robust growth is driven by an uptick in sports betting and online gaming.
The Pennsylvania Gaming Control Board, or PGCB, released its year-on-year revenue report for August 2020. Figures indicate a 5.8% growth rate, thanks largely to sports betting and online gaming activity.
The value of GGR (gross gambling revenue) in August 2020 total $310.4 million, up substantially from $293.4 million in August 2019. That figure is also 9.6% greater than July 2020. The gambling revenues are particularly impressive, given that Pennsylvania is still dealing with a variety of restrictions related to the global pandemic.
Rapid Growth in Online Gambling
Substantial growth in online gambling activity took place in August 2020, with GGR increasing 1544.1%, from just $3.4 million in August 2019. For August 2020, online gambling activity amounted to $55.9 million – an all-time record for the Keystone State. Among operators, the bulk of revenue was driven by online slot machine games, including classic slots, video slots, and progressive jackpot slots. Revenue of $39.6 million was generated, following wagers of $1.06 billion during the month.
Revenue for Internet-based table games amounted to $13.6 million, while online poker remained a laggard and disappointed. The tight restrictions owing to the novel coronavirus severely curtailed poker gaming activity. With just $2729 generated for poker at Mount Airy Casino Resort and PokerStars (partner), this gambling vertical underwhelmed in a big way.
Which Operators Generated the Biggest GGR?
Among the operators, Rush Street’s Rivers Philadelphia led the way in terms of online gaming revenue. The August figure amounted to $17.1 million, followed close in tow by Hollywood Casino Penn National with $11.8 million. Next up was Valley Forge Casino Resort, with $8.7 million in revenue, followed by Parx Casino at $6.9 million in revenue. Others include the Mohegan Sun Pocono at $3 million and Harrah's Philadelphia at $724,480 for August.
For 2020 to date, through August, overall gambling revenue in the Keystone State topped out at $3.31 billion, while online gaming revenues reached $351.2 million. Land-based table games amounted to $762.1 million, retail slots $2.04 billion, and sports betting $140.1 million.