March is becoming a powerhouse month for Pennsylvania casinos.
Pennsylvania’s casino industry has posted two $300 million months in its 12-year history. Both instances have come in March.
The first $300 million month occurred last year when the state’s the slot and table game revenue tallied $300,516,011, just eking past the $300 million mark.
March 2019 marked the second time the state surpassed $300 million. This time it had plenty of room to spare, as table game and slot revenue came in at $309,125,131.
Sports betting finds its sea legs
Pennsylvania’s sports betting operators also had their first significant month in March.
As currently constituted, there are just eight retail sports betting locations in Pennsylvania. Despite the lack of locations and online wagering, sportsbooks collectively tallied $5,519,340 in revenue in March. That revenue was generated off of $44,527,574 in wagers.
Topline revenue numbers
- Total casino revenue
- Table game revenue
- Sports betting revenue
March 2019 Pennsylvania casino revenue numbers:
- Slot machine revenue: $226,597,681.24 (+2.37 percent)
- Table game revenue: $82,527,450 (+4.25 percent)
- Sports betting revenue: $5,519,340 (no Y/Y comp)
- Total gaming revenue (including sports): $314,644,471
12-month slot revenue trend
Slot revenue continued its hot streak in March. Revenue was up for the fifth-straight month, and for the tenth time in the last 12 months.
- 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)
- March 2019 slot machine revenue: $226,597,681.24 (+2.37 percent)
Who is up and who was down
Eight of the state’s 12 casinos posted year-over-year revenue gains in March.
That’s not overly surprising in a record-setting month that saw nearly 3% growth. The biggest gainers were Valley Forge and Sands Bethlehem.
|Presque Isle Downs||$12,345,643||3.81%|
PA market analysis
Sports betting has arrived
Pennsylvania sportsbooks saw handle rise by 30% and revenues nearly triple ($1.95 million to $5.52 million) month-over-month.
Online and mobile sports betting accounts for 80% of New Jersey sports bets. When PA betting apps go live there will likely be a small decline in retail sports betting, but total handle will skyrocket.
If PA possessed online sportsbooks in March, total handle would have likely been around $200 million. Not the $44.5 million the state’s eight retail sportsbooks tallied.
Update on online gaming launch date
Casino revenue will receive a second shot in the arm when the state finally green-lights online casinos and poker sites.