A slight uptick in slot revenue wasn’t enough to offset a brutal month on the table game side of the ledger for Pennsylvania’s casinos.
After posting the first $300 million month in its 14-year history last month, casino revenue came back down to Earth in April. Revenue fell nearly seven percent month-over-month and 1.5 percent year-over-year.
Top line numbers for April 2018
Here’s a look at the top line April numbers:
- Slot machine revenue: $206,178,527.52 (+.23 percent)
- Table game revenue: $74,667,615 (-6.19 percent)
- Total gaming revenue: $280,846,142 (-1.56 percent)
12-month slot revenue trend
After suffering through a yearlong slump, slot revenue has righted itself, with the industry posting Y/Y gains in five of the last eight months.
- May 2017 slot machine revenue: $203,248,175.70 (-2.68 percent)
- June 2017 slot machine revenue: $188,520,750 (-.77 percent)
- July 2017 slot machine revenue: $209,124,965.58 (-2.01 percent)
- August 2017 slot machine revenue: $193,190,477.69 (-.39 percent)
- September 2017 slot machine revenue: $195,396,966.03 (+1.69 percent)
- October 2017 slot machine revenue: $189,527,493.24 (-1.21 percent)
- November 2017 slot machine revenue: $181,329,655.27 (+1.08 percent)
- December 2017 slot machine revenue: $187,614,378.63 (+1.22 percent)
- January 2018 slot machine revenue: $177,795,127.32 (-1.39 percent)
- February 2018 slot machine revenue: $189,056,194.76 (-1.67 percent)
- March 2018 slot machine revenue: $221,350,220.10 (+5.41 percent)
- April 2018 slot machine revenue: $206,178,527.52 (+.23 percent)
Who was up and who was down in March
Just four of the state’s casinos beat last April’s numbers: Parx, Rivers, Harrah’s, and Presque Isle.
Half of the state’s casinos saw revenue decline by at least four percent: Mohegan Sun, Valley Forge, Meadows, Mount Airy, Sands, and Lady Luck.
- Parx Casino: +6.38%
- Rivers Casino: +5.53%
- Harrah’s Philadelphia: +3.66%
- Presque Isle Downs and Casino: 3.02%
- SugarHouse Casino: -1.28%
- Hollywood Casino at Penn National Race Course: -1.51%
- Mohegan Sun Pocono: -4.13%
- Valley Forge Casino Resort: -5.64%
- Mount Airy Casino Resort: -7.52%
- The Meadows Casino: -8.15%
- Sands Casino Resort Bethlehem: -9.52%
- Lady Luck Casino Nemacolin: -11.78%
Market share and revenue comparisons
Who won and who lost
Parx is leaving Sands in the rearview mirror
The gap between Pennsylvania’s top two casinos widened in April. Parx saw revenue rise 6.4 percent while Sands Bethlehem’s revenue dropped 9.5 percent.
Sands’ longstanding table-game dominance is also evaporating. Parx’s tally of $16.5 million is just over $1 million shy of Sands’ total, the closest the two have been since the state authorized table games.
Parx is fast-approaching a 20-percent market share in a 12-casino market.
Valley Forge growth streak comes to an end
Valley Forge’s hot streak came to an end in April, as the casino posted its first Y/Y revenue decline since October 2017.
April’s reversal is a bit of a head-scratcher considering Valley Forge’s revenue was up by double-digits in four of the previous five months, thanks in large part to the gaming reform package that removed the amenity fee (entry-fee) requirement passed last year.
- November 2017: +12.4 percent
- December 2017: +6.4 percent
- January 2018: +13.9 percent
- February 2018: +15 percent
- March 2018: +10.5 percent
When it came to slot revenue, Valley Forge had a strong month, posting nine percent Y/Y growth. But the strong slot performance couldn’t offset a nearly 40 percent Y/Y decline in table game revenue.
Forecasting the coming months will be difficult. Gaming expansions the state okayed last year are expected to launch, not to mention the landmark decision by the Supreme Court on sports betting, which Pennsylvania preemptively authorized in the gaming reform package.