Online gambling growth helps soften economic blows to Pennsylvania casinos

Online gambling growth helps soften economic blows to Pennsylvania casinos

Article brief provided by Play Pennsylvania
  • Valerie Cross, Play Pennsylvania
June 27, 2022 11:43 PM
  • Valerie Cross, Play Pennsylvania

The summer sports slowdown is upon us, as is the highest US inflation rate in 40 years, but Pennsylvania gaming revenue charges on.

Story continues below

In May, overall PA gambling revenue totaled $447.8 million, a 3.0% decrease month over month (MoM) and an increase of 8.4% year over year (YoY) compared to May 2021, according to numbers released by the PGCB.

All gambling verticals except for daily fantasy sports saw year-over-year increases, but that doesn’t tell the whole story.

For one, this May’s numbers were skewed by the addition of two casinos that were not yet open last May. Hollywood Casino York (opened Aug. 12, 2021) and Hollywood Morgantown (opened Dec. 22, 2021) provide revenue streams Penn National didn’t have a year ago.