While FanDuel is most known for its popular sportsbook, its online casino has been gaining momentum in recent quarters. Flutter Entertainment, which owns FanDuel, said that the FanDuel brand is the No. 2 online casino operator in the US.
Flutter reported higher customer retention results, which yielded more market share in its older states, including Pennsylvania. FanDuel is one of the top PA online casinos in the state.
FanDuel Casino PA is the No. 2 operator in the US
There is no debate about who the No. 1 online casino operator is, especially in Pennsylvania. That title belongs to DraftKings Casino PA, which posted stellar results on its Q3 2023 earnings call.
However, FanDuel Casino PA has moved into the No. 2 spot due to a strong push in Q3 2023.
In a financial statement made available to investors, FanDuel 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.
Pennsylvania is one of the locations that has helped FanDuel gain more market share, especially for its online casino. FanDuel launched here as an iGaming operator in June 2020. The company debuted its sports betting platform in July 2019.
Over the last several quarters, FanDuel has likely leapfrogged BetMGM Casino PA to put itself behind DraftKings, the market leader.
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FanDuel reporting impressive PA online casino earnings
The Pennsylvania Gaming Control Board (PGCB) breaks down revenue by license, and not by operator. It makes it difficult to see exactly what each operator contributes. However, in partnership with Valley Forge Casino, FanDuel has delivered strong revenue figures in 2023.
Here are the YTD earnings from each top PA license through September:
- Hollywood Penn National (BetMGM Casino PA, DraftKings Casino PA, Hollywood Casino PA, Barstool Casino PA, PointsBet Casino PA): $632.4 million
- Valley Forge Casino (FanDuel Casino PA, Stardust Casino PA): $323.5 million
- Rivers Casino Philadelphia (BetRivers Casino PA, Borgata Casino PA, PlaySugarHouse Casino PA): $310.3 million
FanDuel makes up the largest portion of the Valley Forge figure, which would put itself in a prime position right behind DraftKings. The Valley Forge Casino license finished third behind Rivers Casino Philadelphia in 2022 by a wide margin. Here is the revenue breakdown from last year:
- Rivers Casino Philadelphia: $406.6 million
- Valley Forge Casino: $278.9 million
Nine months into 2023, Valley Forge is on pace to top Rivers Philadelphia in yearly revenue, due to FanDuel’s emergence. While FanDuel has made a seismic leap in the online casino vertical, it isn’t done growing. The financial statement read:
“FanDuel continues to improve its product proposition by adding more tier one suppliers, contributing to a 30% increase in the number of new gaming titles in key states. There remains a significant pipeline of product improvements for us to deliver for our players.”
It’ll be interesting to see FanDuel’s plans moving forward. It ranked in the middle of the pack in total slots offered, supplying 399, which is eighth-most in the state. Across 20 different platforms, Pennsylvania online casinos have more than 8,000 slots available for players.
If 2023 is any indication, FanDuel’s online casino is just scratching the surface in Pennsylvania.
