Pennsylvania sees fantasy decline continue into February
The Pennsylvania Gaming Control Board (PGCB) has reported a 23% decline in fantasy contests revenue for February, the vertical’s third consecutive month of decline.
Total revenue for February fell to $1.6m (£1.2m/€1.4m), with DraftKings leading the market in the month. The fantasy sports giant generated revenue of $906,451.16, or 56% of the total, though this represented a 12% month-on-month fall.
FanDuel also saw its revenue fall sequentially, down from $998,218.08 in January to $622,815.68. Once again, FanDuel and DraftKings accounted for the vast majority of fantasy revenue generated in the state over the month, accounting for 94% of the total.
The decline in revenue came despite nine licensees generating revenue in the month, up from seven in January. Two companies that were not included in the January revenue table, Fantasy Football Players Championship and Full Time Fantasy Sports, both contributed revenue in February.
Fantasy Football Players Championship’s revenue of $47,744.12 saw it reappear to become the third-largest operator in the state. January’s third-placed operator Yahoo Fantasy Sports fell to fifth, with revenue plummeting 77% to $9,726.97.
Full Time Fantasy Sports, meanwhile, took eighth place with revenue of $3,985.25. Just two operators posted month-on-month increases in revenue for February, with Fantasy Draft up 39% to $5,818.57 and Boom Fantasy up 152% to $2,151.45. Despite its growth, Boom Fantasy again propped up the table for the month.
The state’s 15% gross revenue tax saw Pennsylvania receive $244,376.75 from regulated fantasy sports in February. This represented a 23% decline from the prior month.