Being the new kid on the block is never easy. Golden Nugget is the latest online casino operator to enter the Pennsylvania market. It showed itself as a formidable platform in its first full month of going live.
It’s also showing that, despite having 20 PA online casinos, there is an opportunity for existing operators to grow and to welcome new faces.
Golden Nugget Casino PA posts strong slot revenue in short August
Slot earnings generated 92.2% of online casino revenue during the Fiscal Year 2022/2023 and jumped 31% from the previous year. It’s safe to say that slot play among online operators is massive.
Golden Nugget Casino PA launched in August as the 20th platform in Pennsylvania. The operator generated an impressive $2 million in August slot revenue, despite being live only for the month’s final couple weeks. Golden Nugget finished ahead of more seasoned apps such as Wind Creek (just shy of $2 million) and Unibet Casino PA ($1.4 million) in slot revenue.
Bally Casino PA, which went live in June, and Golden Nugget each had similar starts. Bally’s recorded $1.7 million in July slot revenue, the operator’s first full month post-launch. In August, Golden Nugget finished right behind Bally’s, which posted $2.2 million in slot revenue.
The two are expected to jockey for position each other and keep climbing the ranks as players get acclimated to the brands.
Golden Nugget did not perform well in the table games sector in August. The operator lost $351,097, which ultimately placed it last in revenue generated for the month at $1.7 million.
What’s to come for Golden Nugget Casino Pennsylvania
The operator launched with nearly 600 slots, which is sixth-most in the state. Launching as a Qualified Gaming Entity (QGE), Golden Nugget did not need to partner with a Pennsylvania land-based casino to produce an online casino. So it’s a lot easier to see its revenue totals, compared to the operators who are partnered with a Pennsylvania retail location.
The Pennsylvania Gaming Control Board (PGCB) does not break down revenue by license. However, the operators with the largest number of slot games appear to make the most revenue.
DraftKings Casino PA and BetMGM Casino PA are partnered with Hollywood Penn National. Combined, the operators offer more than 1,500 slots for players. Although Hollywood also partners with its own brands, PointsBet and Barstool, the license has achieved $557.4 million in yearly revenue. Much of the weight has been carried by DraftKings and BetMGM.
BetRivers Casino PA, Borgata Casino PA and PlaySugarHouse Casino PA, which produce well over 3,000 combined slots, are partnered with Rivers Casino Philadelphia and generated $275.7 million in yearly revenue, the third-most of any license.
Golden Nugget also operates in Michigan, West Virginia and New Jersey. The Michigan Gaming Control Board (MGCB) does break down revenue by operator. Golden Nugget finished fifth out of 15 apps in August revenue, recording $7.2 million.
Golden Nugget has a lot in its favor. It supplies a well-known retail location in Atlantic City, a short drive from Southeastern Pennsylvania, and it is owned by DraftKings. The online platform features lots of DraftKings-branded games, as well as Golden Nugget-branded titles.
There is certainly a scenario in which Golden Nugget has a chance to be a top-half online casino operator in the Keystone State. We’ll know how it performed in its first full month — September — in mid-October.
