Home News Pennsylvania Sports Betting Revenue Drops 35% in August

Pennsylvania Sports Betting Revenue Drops 35% in August

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The sports betting revenues in Pennsylvania fell 35.1% on an annual basis in August. However, the US state still reported an increase in overall gambling revenue.

In August, the total revenue generated by gambling in Pennsylvania was $457.2m. It was 7.5% higher than the $425.4m of August 2022, but only 2.1% lower than the $467.0m from July.

The state’s primary gambling source, retail slots, continues to be the most lucrative with revenues of $203.2m. The increase is 1.0% over last year. The retail table game market also increased by 5.4%, to $82.7m.

Total revenue from online casino gaming reached $145.0m, an increase of 35.3%. The revenue from internet slots increased by 39.0%, to $105.3m. Igaming table revenue grew 29.8%, to $37.3m. Online poker revenue fell 10.9%, to $2.4m.

Hollywood Casino Penn National still leads the igaming industry with a revenue of $60.3m. Valley Forge Casino Resort came in second with $32.4m and Rivers Casino Philadelphia was third with $28.1m.

Pennsylvania sports betting struggle

The sports betting sector struggled in August, despite the growth of the online gaming industry.

The revenue was down 35.1% year on year at $22.0m. Of this, $19.3m came from online wagering and $2.7m were retail wagering. The handle increased by 8.3%, to $393.0 million in August.

Hollywood Casino Morgantown and Barstool have surpassed FanDuel to take the top two spots with $7.4 million in sports betting revenues. Valley Forge, FanDuel and former market leaders were in second place with $5.5m. Hollywood Casino Morgantown followed on $1.8m.

In Pennsylvania, the revenue from video gambling terminals fell 5.4% in August to reach $3.5m. The revenue from fantasy sports also fell 5.8%, to $792206.

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