After a torrid start to 2019, Pennsylvania’s casino industry cooled off in February, with the state’s casino industry posting modest revenue gains across the board.
According to the Pennsylvania Gaming Control Board’s (PGCB) latest revenue report, total casino revenue came in at $263,975,463 for the month. That’s a year-over-year increase of .44 percent.
The gains nearly double when February sports betting numbers are added to the mix, as the newest gambling vertical brought in another $1,946,816 million of revenue in February. The nearly $2 million in PA gambling expansion revenue was generated from $31,500,742 in wagers.
February 2019 Pennsylvania casino revenue numbers:
- Slot machine revenue: $189,976,151.61 (+.49 percent)
- Table game revenue: $73,999,311 (+.33 percent)
- Sports betting revenue: $1,946,816 (no Y/Y comp)
- Total gaming revenue (including sports): $265,922,279 (+.72 percent)
12-month slot revenue trend
Slot revenue is on an undeniable hot streak. Revenue was up for the fourth straight month in February, and for the tenth time in the last 12 months.
- March 2018 slot machine revenue: $221,350,220.10 (+5.41 percent)
- April 2018 slot machine revenue: $206,178,527.52 (+.23 percent)
- May 2018 slot machine revenue: $203,993,259.02 (+.37 percent)
- June 2018 slot machine revenue: $197,763,672 (+4.9 percent)
- July 2018 slot machine revenue: $203,643,985.78 (-2.62 percent)
- August 2018 slot machine revenue: $201,729,430.81 (+4.42 percent)
- September 2018 slot machine revenue: $196,209,617.90 (+.42 percent)
- October 2018 slot machine revenue: $186,255,556.07 (-1.73 percent)
- November 2018 slot machine revenue: $183,069,176.86 (+.96 percent)
- December 2018 slot machine revenue: $202,840,435.32 (+8.12 percent)
- January 2019 slot machine revenue: $179,842,150 (+1.15 percent)
- February 2019 slot machine revenue: $189,976,151.61 (+.49 percent)
A look at who was up and who was down
Five of the state’s 12 casinos posted revenue gains in February, with four of the five posting significant gains of at least four percent.
|Presque Isle Downs||$9,838,532||-4.18%|
*Doesn’t include sports betting
PA market analysis
Sands Bethlehem sale could finally be finalized
More than a year after it was first announced, the sale of Sands Bethlehem Casino to Wind Creek Hospitality is nearing the finish line.
The two groups filed a change of ownership petition with the PGCB on Feb. 21.
The petition also shed some light on what assets would be included in the sale. The property boasts not only a casino, but also an outlet mall, conference center, and a detached hotel. These extra elements are why the sale has taken so long.
Most of those elements will end up in Wind Creek Hospitality’s control. The casino, which will become Wind Creek Casino and Resort, will retain the major elements. Additionally, the company plans to immediately begin a costly expansion plan that includes new hotel rooms, amongst other things.
Sports betting disappoints
Handle decreased from $32 million to $31.5 million, with revenues dipping from $2.6 million to just under $2 million.
A handle decrease from January to February is typical in more mature markets like Nevada, but Pennsylvania’s nascent sports betting industry should still be in a growth phase.
Historical look at casino revenue in Pennsylvania