Bally’s is one of the newest platforms to launch an online casino in Pennsylvania. Operating for a full quarter, Bally’s executives are encouraged about its start in the Keystone State.
PA online casinos have continued to grow in revenue and the number of operators over the last several months. Bally’s has contributed to both, as it finds its footing in the most robust market in the country.
Bally Casino Pennsylvania has successful Q3 2023
During Bally’s Q2 2023 earnings call, there was a lot less information to report since the operator had just launched in June. However, the company still reported a successful launch with the information available.
Now that Bally Casino PA is one full quarter in, there are more details accessible to measure. Bally’s released a presentation for investors with statistics surrounding its Pennsylvania launch. It compares figures to its New Jersey online casino debut in February 2022:
- PA hit over 10,000 unique monthly customers in Q3
- After 100 days, PA deposit volumes were 3x larger than Bally’s New Jersey’s first 100 days
- New customer volume, customer retention and value continue to track above that of New Jersey
- Expected market share in PA is already 1-2% in its first full quarter
Bally’s CEO, Robeson Reeves, said during the call:
“Pennsylvania has performed well since our June launch, and we are building the business prudently.”
Bally’s start in Pennsylvania has also excited Reeves for its Rhode Island launch, where the platform will be the sole online casino provider in the state.
READ MORE ABOUT PENNSYLVANIA ONLINE CASINOS:
Bally’s partnership with White Hat Gaming to help expand Pennsylvania online casino
Bally’s partnered with White Hat Gaming earlier this year to improve its player account management (PAM) processes. PAM can include one or all of the following:
- Account creation
- Deposit and withdrawal management
- Player tracking
- Transaction reporting
- CRM systems
Having a strong PAM process is especially important for operators with retail and online casinos in the same state. Bally’s has both in New Jersey and a land-based casino on the way in Pennsylvania. It is pending a lawsuit involving a potential improper bid made by Ira Lubert, which will be heard in front of the Pennsylvania Supreme Court. Assuming the situation gets rectified, Bally’s would have a retail and online casino in the Keystone State, too.
Reeves said of the partnership with White Hat:
“This is a major step towards our goal of creating a seamless customer experience and will also ensure better operational focus as our North America teams won’t have to deal with the complexity of managing two separate customer support processes across our iGaming and Bally Bet platforms.”
As a result of adding White Hat Gaming, Bally’s is laying off around 300 people in the near future. The company expects to lose $60 million at the EBITDA level this year and $30 million next year. Robeson said it won’t break even until 2025.
Bally’s CFO, Marcus Glover, said during the call:
“This will lead to a better user experience for our customers, as well as create internal operating efficiencies.”
Bally’s Q3 performance in PA online casino market
Bally’s has registered at least $1.9 million in revenue each month during the third quarter. Revenue totals are as follows:
- July: $1.9 million
- August: $2.6 million
- September: $2.2 million
August boasted a solid boost in regards to earnings. However, September was a slight setback amidst a record-breaking month for Pennsylvania online casinos, generating $187.3 million in revenue overall.
Golden Nugget had a strong September as it surged into the top six of PA online casino licenses. Bally’s has not yet shown that type of firepower, however, it is still holding its own within the state.
October, November and December performance will be a key indicator of what is in store for Bally’s.