Gaming revenue in Pennsylvania rebounded in September primarily due to an increase in sports betting revenue, after a slight drop in August.
The Pennsylvania Gaming Control Board Tuesday reported total revenue of $415.7 million in September, a 1.9% increase from the $408.1 generated the prior month. Notably, revenue from sports betting increased in September to $28.2 million from $18.0 million in August, a 56.6% jump.
“The revenue numbers across the board remain very healthy as the industry continues to return to normal from the Covid-related measures that deteriorated some of the revenue,” said PGCB Communications Director Douglas Harbach via email. “With the start of the college and NFL season in September, the expected increase in wagering and revenue certainly was a great contributor to the month-over-month increase.”
In an analyst statement, J. P. Morgan analyst Joseph Greff said the net increase in sports betting revenue in Pennsylvania was partially due to the state’s marketing efforts.
“Sports betting net revenues were $28.3m (up 57% m/m), while promotions were $19.9m, implying gross revenues of $48.2m,” Greff wrote. “Total sports betting handle was $578m (91% online); promotions as a % of handle was 3.4%, reflecting an increase in marketing ahead for the NFL/NCAA football seasons.”
Philadelphia’s Parx Casino again generated the most revenue, $57.2 million, a year-over-year increase of 6.75% from $53.5 million in September 2020. Hollywood Casino at Penn National in Grantville brought in $55.9 million in September, a 96.6% increase from September 2020’s $28.4 million. And Rivers Casino Philadelphia saw a year-over-year increase of 26.6%, from $27.8 million in September 2020 to $47.9 million this year.
Slot revenue from Pennsylvania casinos in September reached $198.9 million, up from the $157.4 million generated in September 2020, but down from August’s $209.8 million. Parx led with $33.5 million in slot revenue, followed by Wild Creek Bethlehem with $23.3 million, and Rivers Casino Pittsburgh with $22.6 million.
Pennsylvania igaming revenue totaled $97.8 million, compared to $86.3 million in August. Hollywood Casino at Penn National’s igaming generated $38.6 million, followed by Rivers Casino Philadelphia with $26.7 million, and Valley Forge Casino Resort in King of Prussia with $15.8 million.
Valley Forge Casino Resort’s sportsbook, operated by FanDuel, led in total sports betting handle with $187.4 million, and also led in sports betting revenue with $14.4 million.
The handle at Hollywood Casino at the Meadows in Meadowlands was $166.6, with revenue of $2.1 million. Hollywood Casino at Penn National’s total handle for sports betting reached $54.9 million, generating revenue of $1.2 million. Rivers Casino properties in Pittsburgh and Philadelphia were also top sports betting revenue generators; the Pittsburgh property brought in $2.4 million, and Philadelphia totaled $2.2 million.
