The Pennsylvania Gaming Control Board (PGCB) reports that brick-and-mortar casino revenue is dropping in Pennsylvania. At the same time, iGaming revenue is increasing. In the September report, in-person casino gambling revenue of just over $270 million showed a $4.7 million loss from what the 17 land-based casinos won on physical slots and table games a year ago. However, the Keystone State posted a 6.2% year-on-year increase in overall monthly gambling revenue with iGaming helping to close the gap.
Total revenue from all forms of gaming during September 2024 was $505,879,339. This was an increase of 6.17% compared to the total revenue in September 2023. Total tax revenue for September from all forms of gaming was $211,150,316.
Parx remains on top in slot revenue
Parx Casino in Bensalem is the largest land-based casino in Pennsylvania and one of the two smoke-free casinos in the region. Its closeness to Philadelphia means players wanting a clean indoor environment patronize the casino. In September, Parx won over $30 million on slots, leading the other 16 brick-and-mortar casinos. In table games, Parx ranked second to Wind Creek at $15.5 million. Parx’s games are also available online to players using its betPARX app. Sports bettors can also use the same app to place sports bets. Total iGaming revenue for Parx Casino in September was $4,173,504.
September losses
Along with retail casinos, some of the other losses in September were online poker rake at $2.2 million and fantasy sports at $1.9 million. These represented a 7% and almost 5% decline respectively since September last year.
Online gambling and sports betting are thriving
Online gambling and mobile sports wagering are thriving in Pennsylvania. Online gambling doesn’t offer opportunities for meeting new people like in-person gambling offers. However, now that live dealer games are available, players can interact with dealers and other players via live chat.
GGR from online slots and interactive table games, besides poker rake, totaled $174.5 million. Online slots were primarily responsible for the increase of about $17.4 million. Sports betting in Pennsylvania reached $53.5 million in September, which was a 6% surge.
The start of the NFL season went largely the way of the oddsmakers which fueled the increase. Of the adjusted gross revenue, $6.3m came from wagering at retail sportsbooks and $47.2 million was from online betting. The sports betting handle reached over $810 million last month.
Growth in online market gambling size continues
Looking at US gambling industry insights shows that the US online gambling market size is expected to grow at a compound annual growth rate of 12.0% from 2024 to 2030 to reach $25.79 billion by 2030. A perfect storm of factors is driving its expansion. This includes regulatory changes in key markets and the growing acceptance of online gambling.
Another reason iGaming is becoming so popular is its 24/7 availability, wide game variety, bonuses, and promotions. Technological advancements are also bringing growth such as increasing capabilities to customize and personalize player interactions. Live dealer games is boosting engagement and bridging the gap between the physical and virtual worlds.
The introduction of in-play sports betting is also bringing growth. The evolution of payment technologies is another factor playing a critical role in the popularity of iGaming. The integration of e-wallets is making payments fast and secure.
