Online gambling continues to be a hot-button conversation around the country. More and more states are beginning to entertain the idea of online casino play. So, when they see what has happened in the last month with Pennsylvania, it only increases the hope for more states to join the fray.
Pennsylvania saw a record in total revenue from iGaming of $184.9 million. Total gambling revenue was up nearly 10% from last year, totaling $499.1 million. Online slots continued to lead the way, generating more than $202 million alone.
A Drop in Sports Betting
Despite the success of iGaming in Pennsylvania, the sports betting market looked much different. Total revenue for online sports betting took a hit of 30% compared to the previous year, raking in $30.3 million for the month of February.
As a whole, Pennsylvania garnered $28.2 million in revenue from online betting while retail wagers totaled $2.1 million. The more incredible part is that the handle actually increased more than 10%, going from $599.5 million to $661.7 million.
Video lottery terminals also declined, dropping by 2.4%. Fantasy sports revenue took a hit as well, which is generally expected as football bettors take a break for the offseason. Revenue in the state for fantasy sports dropped 5.2% for $1.3 million in total revenue.
Pennsylvania Led by Table Games and Online Slots
At the heart of the growth in Pennsylvania are table games and slots. iGaming total revenue was a whopping 40.5% higher, with February 2023 raking in $131.6 million. Online slots alone jumped more than 35% ($125.9 million) with table games increasing by a massive 56.7% ($56.6 million).
The only caveat was online poker. It actually fell 8.3%, bringing in $2.4 million in revenue. Table games did so well in February that even land-based casinos did well. They saw an increase of 2.9% in table gable revenues, topping out at $76.6 million.
Slots generated a massive $202.7 million in a year-on-year comparison. Even more impressive given the fact that the total number of slots dropped from roughly 25,700 to just under 25,000. Retail locations like Hollywood Casino at Penn National Race Course and Valley Forge Casino Resort also had major increases in revenue.
Conclusion
The iGaming sector is as strong as ever in Pennsylvania. Players are partaking in slots and table games like never before. Retail sectors are enjoying that growth as well, at least when it comes to table games.
Pundits will be watching with great interest to see how the rest of the year shakes out. Declines have been expected and seen in certain areas. Whether slots and other online games can continue to grow remains to be seen.
