Finance

Pennsylvania gambling revenue rockets 162.7% in March

| By Robert Fletcher
The Pennsylvania Gaming Control Board (PGCB) has reported a 162.7% year-on-year increase in gambling revenue for the US state in March, while the market also experienced a 22.0% month-on-month increase.

Overall gambling revenue for the month – comprising land-based table games and slots, online casino, sports betting, fantasy sports and video gaming terminals – amounted to $403.2m (£292.4m/€336.3m).

This marked a significant improvement from from $153.5m in March last year, the month when then state’s casinos were shuttered as a result of the novel coronavirus (Covid-19) pandemic, from March 17.

The March total was also higher than the $302.0m posted in February this year.

Looking at individual market sectors, the PGCB reported year-on-year growth across all products.

The biggest increase was recorded for sports wagering, where revenue rocketed by 326.1% to $26.0m, split $26.0m online and $3.4m at retail sportsbooks. The month marked the start of the National Collegiate Athletic Association’s men’s basketball tournament, colloquially known as March Madness.

Read there full story by iGB North America.

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