Pennsylvania lawmakers legalized online gambling in 2017, and it was the fourth state in the U.S. to do so. The Pennsylvania Gaming Control Board (PGCB) oversees gambling in the area. This includes slot machines, table games, online games, sports wagering, fantasy contests, and video gaming terminals.
The board recently released its May 2024 report. In May 2024, the combined total revenue for all forms of gaming in Pennsylvania soared to $520,997,868. This was an increase of 8.6% compared to the revenue generated in May 2023. Total tax revenue on all forms of gaming and fantasy contests was $216,300,232.
Slot machine revenue
May’s revenue from retail slot machines was $214,133,424. This was a 1.55% increase in revenue in comparison with what was generated in May 2023. The tax revenue from retail slots was $108,393,393. In May last year, 25,495 slot machines were in operation compared with 24,862 this year.
The May 2024 retail slots revenue generated at Parx Casino was $32,653,976. It was at the top of the list with Wind Creek, Bethlehem, and Rivers Casino, Pittsburgh, in second and third place.
Many casinos saw revenue increases this year mainly due to online gambling. Online casino games generated monthly gross revenue totaling $174,089,510 during May 2024. This was an increase of more than 23% compared to last year.
Hollywood Casino at Penn National Racecourse generated $44,810,177 in iSlots revenue. Parx online casino generated $3,343,594 in iSlots revenue.
Retail table game revenue
Retail Table games revenue for May 2024 was $83,725,161. This was an increase of 2.54% from May 2023. Wind Creek, Bethlehem generated $20,232,634 and was at the top of the list. Parx Casino was second, generating $18,310,671 in table game revenue for May 2024. Live! Casino, Philadelphia generated table game revenue of $10,964,398. Total tax revenue generated by table games during May 2024 was $13,837,027.
Sports wagering revenue
Sports wagering was also strong in Pennsylvania in May 2024. Understanding the accounting aspect is crucial to managing finances, ensuring compliance with regulations, and optimizing profits when it comes to sports wagering. The total sports wagering handle was $591,912,626 in May 2024. This was more than 19% higher than in May 2023. Valley Forge Casino Resort had the largest sports wagering handle at $244,656,109. This was followed by Hollywood Casino at the Meadows, with a total sports wagering handle of $164,575,068. Parx Casino’s total sports wagering handle was $16,029,290. A full 94% of sports betting revenues came from online sportsbooks in May.
Largest overall contributors
The gaming market worldwide is showing tremendous growth, and Pennsylvania’s largest contributor to revenue in May was the Hollywood Casino, located at the Penn National Race Course. It brought in revenue of $81.7 which was up nearly 10% over May 2023. Valley Forge Casino was not far behind with $79.6 million. Harrah’s Philadelphia, Parx Shippensburg, and The Casino at Nemacolin also saw large gains.
The weak spots
Online poker continues to struggle, and Fantasy Sports contests were down in May. The PA online poker market generated $2.3 million in revenue in May 2024. It is at its lowest point since the first few months of the market opening four and a half years ago. Despite these weak spots, the overall success in May was widespread.
