Pennsylvania betting handle passes $300m in November
Pennsylvania’s regulated sports betting market saw handle grow beyond $300m for the first time in November, thanks to a soaring mobile contribution, while online casino benefitted from a leap in table games stakes.
Amounts wagered on sports across all channels amounted to $316.5m for November, a 31.2% improvement on the prior month, according to the figures from the Pennsylvania Gaming Control Board. This was driven by online betting, which accounted for $266.7m, or 84.3%, of the total.
Retail’s contribution was also up month-on-month to $49.7m, though handle is growing at a slower rate than the state’s online market.
From these stakes, operators generated revenue of $20.6m, though with operators doling out promotional credits worth $5.9m to players, the total taxable revenue for the month stood at $14.7m, down marginally from October.
Looking at the performance of individual licensees, Valley Forge Casino, partnered with FanDuel, has raced far ahead of the competition, with stakes totalling $153.0m, up 29.6%. This was wagered almost entirely online, which accounted for $149.7m (97.9%) of the total.
From these stakes, Valley Forge held $5.8m as taxable revenue after promotional credits, the highest total of any licensee.
Coming in a distant second – in terms of amounts wagered at least – was Rivers Philadelphia, the property formerly known as SugarHouse Casino. Players wagered $41.3m through the property’s retail and mobile offerings.
However, higher player winnings resulted in a month-on-month decline in revenue, which fell 41.3% to $1.6m.
Parx Casino, despite total stakes of $30.5m giving it the fourth-largest handle, came in second in terms of total taxable revenue. Its $2.0m total after promotional credits set it ahead of the two Rush Street properties – Rivers Philadelphia and Pittsburgh.
Read the full story, including a breakdown of Pennsylvania's online casino market, on iGB North America.