The Pennsylvania Gaming Control Board (PGCB) reported on Thursday afternoon that the iGaming vertical produced $227.4 million in September revenue. That mark is the second-highest total ever for the US, let alone PA, falling short of March’s record of $233.1 million.
PA online casino revenue has exceeded $200 million for the seventh time in nine months, including three straight months. It has certainly become the new normal for Pennsylvania.
PA online casinos experienced a 1.1% month-over-month and a 21.4% year-over-year increase.
Breakdown of online casino September 2024 PA revenues
- Online slots revenue: $182,766,139
- Table games revenue: $42,444,475
- Online poker revenue: $2,210,873
Quick analysis from September PA iGaming figures
Bet365 continues to climb the ranks
Bet365 Casino PA is making its presence felt in a big way in the Keystone State. The new operator ascended to nearly $4.7 million in revenue last month. In just two full months of operation, bet365 has already passed Bally’s, Mount Airy, Mohegan Sun and Wind Creek in monthly revenue.
Now, bet365 is within striking distance of PlayLive!, Parx and Golden Nugget. While it is roughly $1.2 million behind Golden Nugget, bet365 could leapfrog each of those operators by the end of the year.
While bet365 brought in a considerable amount of revenue, it also gave away much that money in the form of promotions. The operator distributed $4.3 million in promos, which was the third-highest among licensees behind Hollywood Penn National and Valley Forge.
To acquire customers as a brand new operator in a mature state, a strong promotional strategy is imperative. As time goes on, bet365 will certainly curb its spend, in which it could hopefully retain players.
iGaming revenue approaching $2 billion YTD revenue
Through nine months of 2024, online casinos are nearing $2 billion in earnings. After September’s output, operators have generated $1.9 billion so far.
To put it in perspective, online casinos produced $2.1 billion through all of 2023. They are on pace to record nearly $2.6 billion in 2024 revenue, which shatters last year’s total.
Slot revenue and table games have crossed yearly milestones already, respectively, exceeding $1.5 billion and $400 million through September.
Boost from poker is coming once PA is part of MSIGA
The Pennsylvania online poker industry posted $2.2 million in September, which is right in line with industry standards. Now that the PGCB has been given permission to negotiate the Commonwealth into the Multi-State Internet Gaming Agreement (MSIGA), those numbers could climb very soon.
Pennsylvania would join other states such as Delaware, Michigan, Nevada, New Jersey and West Virginia in the compact, which would mean larger player pools and prizes. Since Michigan and New Jersey are part of MSIGA, they Keystone State has taken a backseat in the poker space.
Once Pennsylvania gets the green light, it’ll likely reclaim its spot as the market leader for poker. While there is no timetable, it’s plausible that PA joins the fray by the end of the year.
PA online casino revenue by operator in September 2024
Licensee | Total Revenue | Slots | Tables | Poker | Promos | Taxes |
---|---|---|---|---|---|---|
Hollywood Penn National | $83,662,957 | $63,967,653 | $19,269,960 | $425,344 | $16,732,584 | $28,656,686 |
Valley Forge | $60,438,052 | $46,993,457 | $13,444,595 | $0 | $13,301,629 | $20,344,722 |
Rivers Philadelphia | $39,543,775 | $36,132,497 | $3,305,362 | $105,916 | $8,039,795 | $15,715,600 |
Harrah's Philadelphia | $10,683,971 | $7,842,241 | $2,443,914 | $397,816 | $2,196,773 | $3,500,390 |
Golden Nugget PA | $5,813,972 | $5,487,970 | $326,002 | $0 | $1,144,600 | $2,093,544 |
Parx | $5,211,204 | $4,387,614 | $823,590 | $0 | $1,037,700 | $1,940,728 |
Live Philadelphia | $5,122,572 | $4,045,932 | $1,076,640 | $0 | $1,056,353 | $1,786,635 |
Presque Isle Downs | $4,656,810 | $4,138,476 | $518,333 | $0 | $4,333,555 | ($22,409) |
Mount Airy | $4,529,865 | $2,694,083 | $553,986 | $1,281,797 | $878,036 | $1,262,669 |
Bally's State College | $3,806,337 | $3,509,977 | $296,360 | $0 | $617,907 | $1,406,690 |
Mohegan Sun Pocono | $2,092,859 | $1,837,916 | $254,943 | $0 | $776,864 | $613,759 |
Wind Creek | $1,859,112 | $1,728,323 | $130,790 | $0 | $604,754 | $627,653 |
Total | $227,421,486 | $182,766,139 | $42,444,475 | $2,210,873 | $50,720,550 | $77,926,667 |