Pennsylvania: Caesars shifts to become serious competitor among sportsbooks

Pennsylvania: Caesars shifts to become serious competitor among sportsbooks

Article brief provided by Penn Bets
  • Gary Rotstein, Penn Bets
October 24, 2022 2:52 PM
  • Gary Rotstein, Penn Bets

It is customary for sportsbooks to make a big leap in activity from August to September as football season kicks into full gear, but not in the way that Caesars Sportsbook did last month.

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The recently reformatted sportsbook that took barely $1 million in online/mobile bets in August showed a handle of $17.5 million in September, according to the revenue report released last week by the Pennsylvania Gaming Control Board. That was about seven times as much as its betting volume of $2.4 million in September 2021.

Caesars’ online gross revenue of $2,065,762 last month was more than $1.8 million higher than in any of its 30 prior months as a digital operator in the state. It reported $854,349 in adjusted, taxable revenue after giving away more than $1.2 million in promotional credits, which was more than it gave away in the entire 2021-22 fiscal year.