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In January, Pennsylvania online casinos saw their first month-over-month revenue drop since June 2024, but the long-term trend is still strong. The Pennsylvania Gaming Control Board (PGCB) reported on Thursday morning that online casinos produced $268.0 million in January revenue.
Despite a 4.7% month-over-month decline, the real story is how strong the market has become over the past year. Operators showcased a massive 41.6% year-over-year growth, the highest rate in three years.
The national trend in 2024 was of acceleration relative to 2023, but that only began a few months into the year. The huge year-over-year increase we’re now seeing is a testament to that acceleration. The question for 2025 becomes whether iGaming can sustain that pace for another year or begins to return to the 2023 pace which, for Pennsylvania, was just under 30%.
January has traditionally provided the lowest revenue total in each calendar year, and it’s normal for there to be a seasonal drop in revenue after the winter holidays. Last year’s January decline was 7.3%, and the worst for the state was 15.9% in January 2021. The long-term growth trend will soon overcome that and the state’s iGaming sites should be back to setting monthly revenue records by March at the latest.
Breakdown of online casino December 2024 PA revenue
- Online slots revenue: $216,496,419
- Table games revenue: $48,938,105
- Online poker revenue: $2,598,295
Quick analysis from January PA iGaming figures
iGaming market off to a hot start
To put January’s revenue total in perspective, last year’s figure did not crack $200 million. Operators generated just $189.3 million last January, the lowest output of 2024.
It’s not that uncommon for January results to be less than December. The only times January revenue has beaten the previous month came in 2020-21 and 2022-23.
It’s certainly possible that January 2025 could be the lowest figure of the year, just like last year. If that’s the case, Pennsylvania online casino revenue is in for a huge year.
Even if every month of 2025 consisted of $268.0 million, by the end of the year, that would result in operators generating $3.2 billion in revenue, which would be an 18% increase.
Pennsylvania iGaming is certainly a healthy market.
Bet365 makes massive jump
Bet365 Casino is the new platform on the block, just launching last summer. However, the platform is making quick inroads in a very competitive market.
The company’s first full month only brought in $3 million in August. January saw the platform produce $7.1 million, its highest total to date.
Bet365 has been up and down, which is normal for newcomers in the market. Over the last three months, the operator’s growth has been linear. It came within $1 million from surpassing Golden Nugget, which went live a year earlier than bet365.
Bet365 has already jumped more seasoned platforms such at PlayLive!, Parx and Bally’s. Golden Nugget and possibly Caesars are the next operators to chase down.
iGaming market nearing $9 billion in lifetime revenue
With January’s output, the Pennsylvania online casino market is close to reaching another milestone. Should operators generate more than $202 million in February, that’ll put the industry at $9 billion in lifetime earnings.
Online casinos have not dipped below $200 million since January 2024, and there’s no reason to think it’ll happen again. If anything, operators are going to be closing in on $300 million in a single month in the near future.
It won’t be too long before the market reaches $10 billion in lifetime revenue, too.
PA online casino revenue by operator in January 2025
| Licensee | Total Revenue | Slots | Tables | Poker | Promos | Taxes |
|---|---|---|---|---|---|---|
| Hollywood Penn National | $98,988,123 | $75,554,571 | $22,904,944 | $528,608 | $19,255,916 | $34,149,786 |
| Valley Forge | $73,246,982 | $57,035,002 | $16,211,980 | $0 | $15,637,439 | $24,948,601 |
| Rivers Philadelphia | $43,822,786 | $39,747,359 | $3,746,642 | $328,785 | $8,377,541 | $17,589,609 |
| Harrah's Philadelphia | $11,834,750 | $9,801,528 | $1,644,873 | $388,349 | $2,531,279 | $4,249,582 |
| Golden Nugget PA | $8,165,568 | $7,480,985 | $684,583 | $0 | $779,811 | $3,259,085 |
| Presque Isle Downs | $7,148,155 | $5,999,560 | $1,148,595 | $0 | $5,219,379 | $605,073 |
| Parx | $6,230,564 | $5,880,905 | $349,659 | $0 | $1,687,981 | $2,320,124 |
| Live Philadelphia | $5,317,730 | $4,577,835 | $739,895 | $0 | $1,432,160 | $1,817,047 |
| Mount Airy | $4,652,656 | $2,848,372 | $451,731 | $1,352,553 | $899,806 | $1,336,905 |
| Bally's State College | $3,998,740 | $3,553,785 | $444,955 | $0 | $664,955 | $1,428,943 |
| Wind Creek | $2,313,997 | $1,992,748 | $321,249 | $0 | $499,430 | $857,791 |
| Mohegan Sun Pocono | $2,312,768 | $2,023,769 | $288,999 | $0 | $876,145 | $665,957 |
| Total | $268,032,819 | $216,496,419 | $48,938,105 | $2,598,295 | $57,861,842 | $93,228,503 |
