Online gaming revenue peaked while PA sports gambling saw month-over-month declines in February. Internet-based gambling in Pennsylvania experienced its best month yet in February, 2020 bringing in nearly $19.5 million in revenue.
It marks a 39.6% increase over January, when revenue totaled just under $14 million. In terms of tax revenue, online casinos brought in $6.8 million last month.
Healthy February for retail casinos followed by forced closures
Even as online gaming continues to climb, retail casinos had a healthy showing in February. Slot revenue across the state’s 12 land-based casinos was nearly $200 million, a 5.1% increase year-over-year. Table games brought in $77.4 million in revenue across operators, an increase of 4.6%.
However, February’s number serve as a line of demarcation. PA’s twelve brick-and-mortar casinos all ceased operations by March 17 to curb the spread of coronavirus. March’s number’s will illustrate some of the damage caused to retail by closing.
Future numbers will also illustrate the appetite for online gaming, especially since Pennsylvanians have been ordered to stay home. Just how long closures will last is yet unclear.
FanDuel wastes no time reaching top spot
Already the Top Dog in sports betting in PA, FanDuel surged into the lead for iGaming as well.
After launching on Jan. 24 in partnership with Valley Forge Casino, the new online casino managed to take $94 million in wagers in eight days to close out the month. A whopping $84.7 million of that came from table games.
FanDuel was second in handle and third in total revenue in January. In its first full month, it was clearly first in both despite one of the smallest library of games.
With revenue of nearly $6.1 million, FanDuel casino outpaced previous leader SugarHouse (Rivers Casino Philadelphia), which posted revenue of $4.8 million.
FanDuel’s $279.3 million in total wagers also led, with SugarHouse in second with $194.7 million.
February slots and table games revenue and handle by operator
It’s interesting to note, FanDuel casino’s table games far out-earn online slots which goes against industry norms.
In February, FanDuel accounted for 39.7% of total online handle in the state, and 53.2% of table games handle.
Here’s a breakdown of handle and revenue for each operator in February.
|Online Operator||Slot wagers||Slot revenue||Tables wagers||Tables revenue|
|SugarHouse (Rivers Philly)||$98.8 million||$3.1 million||$95.9 million||$1.6 million|
|Hollywood (Penn National)||$46.2 million||$2.2 million||$26.4 million||$150,000|
|FanDuel (Valley Forge)||$40.7 million||$1.2 million||$238.6 million||$4.8 million|
|Parx Casino||$30.3 million||$1.9 million||$22.9 million||$490,000|
|PokerStars (Mt. Airy)||$24.8 million||$717,000||$48.1 million||$676,000|
|Unibet (Mohegan Sun)||$12.4 million||$450,000||$14.6 million||$270,000|
|BetAmerica (Presque Isle)||$1.4 million||$60,000||$2.4 million||$9,000|
|Monthly totals||$254.7 million||$9.6 million||$448.9 million||$8 million|
Let’s not forget online poker
Online poker has had just one single operator since the debut in November. PokerStars PA cornered the market in Pennsylvania, and posted strong revenue each month since launch. The $1.8 million in gross revenue from poker in February was a small downturn from January.
The current situation of PA casino closures because of the coronavirus pandemic is resulting in increased online poker traffic. That, combined with a PASCOOP series with $2 million in guarantees scheduled for April 4 should mean revenue rises for PokerStars PA in revenue reports to come.
While PokerStars PA has been the lone wolf in the state so far, it’s bound to change in time. Just “when” is anyone’s guess. But Caesars recently launched an online sportsbook product, and the Harrah’s Philadelphia license allows for online poker.
The potential of a WSOP.com poker product in PA seems more a matter of when, than if.