There is no debate that the online casino market in Pennsylvania is the most robust of any other. The state is also proving that it is the fastest-growing market through October so far this year. Pennsylvania is expanding at nearly 28% from a year ago.
Online casinos have seen increases in the Keystone State in both revenue and the number of operators. It’s not always common for the top market to be the fastest growing, but that seems to be the case for PA online casinos.
PA online casinos still out-growing other markets
The Pennsylvania online casino market generates the most revenue of any state. Even when other markets seem to catch up, Pennsylvania pulls away from the pack.
Through October 2023, Pennsylvania online casinos have recorded $1.71 billion in YTD revenue, up 27.6% from last year. There are other strong markets, too, such as Michigan and New Jersey. However, not even those states are growing at Pennsylvania’s rate.
Michigan has produced the following revenue through October in each of the last two years:
- 2022: $1.28 billion
- 2023: $1.57 billion
While that is an impressive jump, the leap represents just a 22.7% increase.
New Jersey is another formidable market, rivaling Michigan and Pennsylvania, that routinely delivers strong revenue. Here are New Jersey’s totals through October 2022 and 2023:
- 2022: $1.37 billion
- 2023: $1.57 billion
Despite a noticeable rise, New Jersey’s year-over-year increase is only 14.6%, which doesn’t come close to Pennsylvania’s climb, despite the Garden State having 29 total online casinos.
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Why Pennsylvania online casinos continue to create the strongest market
The Keystone State starts making online casino headlines whenever you think the market is done growing. Pennsylvania set a US record of $187.3 million in September revenue and almost topped it in October, recording $186.9 million.
Those figures are considered to be astronomical in the online casino industry. Pennsylvania is the only market to reach $170 million in monthly revenue, let alone $180 million.
It now has those in Pennsylvania wondering what the state can do for an encore. It’s not out of the question that the Keystone State could reach $200 million in monthly revenue at some point in 2024.
New PA casinos online go live
The market has proved to be welcoming to several new operators in 2023, with the last one being Jackpot City, launching last week. Here are the online casinos that debuted this year:
- Tropicana Casino PA (April)
- Bally Casino PA (June)
- Golden Nugget online casino PA (August)
- Jackpot City PA (December)
Other operators see that the new ones entering Pennsylvania are successful after launching. Since Bally’s and Golden Nugget debuted as Qualified Gaming Entities (QGE), their revenue totals are easy to track and are as follows for October:
- Golden Nugget: $5.2 million
- Bally’s: $2.4 million
Since the Pennsylvania Gaming Control Board (PGCB) does not break down revenue by operator, Tropicana Casino PA’s revenue is unclear. However, in partnership with Harrah’s Philadelphia, Caesars Casino PA and Tropicana generated a combined revenue of $8.3 million, an all-time high for the license.
The three operators that launched before December have shown great promise within the market. The industry will continue to grow, as Fanatics is launching imminently, while bet365 should go live at some point in 2024.
Pennsylvanians have responded well to new titles and games that operators have unveiled. Other online casinos see the opportunity the Keystone State provides and want in on the action.
