There have been several shifts in the online casino market over the past several months. Operators have climbed the ranks, and others have fallen. FanDuel is one that has significantly grown its Pennsylvania presence late in 2023.
Headlined by FanDuel Casino PA, license-holder Valley Forge Casino (which also partners with Stardust Casino PA) just put together its best revenue month ever.
FanDuel sets Pennsylvania record for monthly revenue in November
PA online casinos set another US record for monthly revenue in November, producing $191.9 million. It’s the second time over the past three months the state has set a new high mark.
Despite the Pennsylvania Gaming Control Board (PGCB) not breaking down revenue by operator, lots of licensees displayed revenue jumps. However, the combination of FanDuel and Stardust with Valley Forge Casino experienced one of the highest revenue increases.
FanDuel likely carries the majority of the weight for the Valley Forge license. In November, the license netted a record of $51 million in revenue. It’s the first time the license surpassed the $50 million threshold in a single month.
FanDuel has helped the Valley Forge license climb each month in 2023. Back in June, the license generated $33.7 million, which now seems pedestrian. Here is how the license has grown since:
- July: $34.9 million
- August: $34.9 million
- September: $42.4 million
- October: $43.8 million
- November: $51 million
Let’s see what the license can do for an encore in December to close out 2023.
FanDuel pulls away from other top PA online casinos
FanDuel has passed Rivers Casino Philadelphia, which partners with Borgata Casino PA, PlaySugarHouse Casino PA, and BetRivers Casino PA, in the market.
In May, Rivers Casino Philadelphia finished ahead of Valley Forge, totaling $35.9 million and $34.7 million, respectively. Valley Forge has finished ahead of Rivers Casino Philadelphia ever since, and it is beginning to dominate.
| Month | Valley Forge Revenue | Rivers Philadelphia Revenue |
|---|---|---|
| May | $34.7 million | $35.8 million |
| June | $33.7 million | $33 million |
| July | $34.9 million | $32.5 million |
| August | $39.4 million | $33.8 million |
| September | $42.3 million | $34.6 million |
| October | $43.8 million | $34.8 million |
| November | $51 million | $33.3 million |
During a Q3 2023 earnings call, FanDuel announced it had become the No. 2 online casino operator in the US.
In a financial statement made available to investors, FanDuel said it had achieved a 23% online casino market share, which is a 52% year-over-year revenue jump. The operator increased customer acquisition by 37% in both sports betting and online casino players. This includes a 13% increase in states that launched before 2022.
FanDuel is behind DraftKings Casino PA, which became the No. 1 online casino operator earlier this year.
At this rate, DraftKings might have to look over its shoulder, especially in Pennsylvania.
Stardust Casino PA to make upgrades
Stardust is the other operator that is partnered with Valley Forge Casino, which often gets overlooked. However, the platform partnered with Playtech to supply the operator with new games.
Stardust has the smallest slot library in the Keystone State, offering just 25 slots. The addition of Playtech’s games will definitely give the operator a boost, and help contribute to the Valley Forge license.
Playtech has over 600 slot games to offer. It plans to offer slots, table games, and live dealer games to Stardust. The game manufacturer opened a brand new live dealer studio earlier this month.
The Valley Forge license is going to be a force if Stardust gets a significant return on investment.
