Pennsylvania's gaming revenue up 24% to $375M in February; sports betting win slumps 102%

The Pennsylvania Gaming Control Board reported on Thursday gaming revenue results for February. During the past month, the combined total revenue generated from all forms of gaming along with fantasy contests was $375.7 million, an increase of 24.4% when compared to revenue posted the same month in 2022.

As for Pennsylvania’s sportsbooks, they reported $597.1 million in wagers in February, up 17.2% from $509.5 million in February 2021. Despite the Super Bowl wagers, February’s handle was the lowest since $578.8 million in September, and down 24.8% from the record $793.7 million in wagers in January. Sportsbook revenue slumped 102.7%.

Hollywood Casino at Penn National, in Grantville, placed first among all land-based venues, with $59.5 million in revenue, up 42% from the prior period. It was followed by Parx Casino in Bensalem ($53.6 million, up 13.8%) and Wind Creek Bethlehem ($40.9 million, up 53.6%). Rivers Casino Philadelphia ($40.6 million, up 23.2%) and Valley Forge Casino Resort in Montgomery ($31.2 million, down 0.9%) round out the top five.

Most gaming revenue for the month came from retail slots, which delivered $194.7 million in revenue, up 33.5% from February 2021. Retail tables revenue was also up, 29.6% to $74.4 million. iGaming also delivered a solid month in terms of revenue ($102.4 million, up 31.6%), with slot revenue up 34.7% to $68.1 million; tables revenue up 27.3% to $31.4 million and poker up 14.3% to $2.9 million.

Parx Casino placed first for retail slots revenue, delivering $33.9 million, up 25.8%. Wind Creek Bethlehem dominated retail table games, with $17.5 million in revenue, up 76.1%. And in terms of iGaming revenue -slots, table and poker combined-, Hollywood Casino at Penn National was the clear winner, with $42.7 million, up 52.5% from the prior-year period.

However, while other types of gaming revenue experienced increases, sports wagering faced a significant 102.7% drop last month to a $442,847 loss, compared to $16.4 million revenue in February 2021. Fantasy contests were also down by 21.5% to $1.6 million in revenue.

Despite the revenue drop, February 2022 saw sports betting handle 17.2% above the same month last year, bringing the total amount wagered by Pennsylvanian to $597 million. Valley Forge Casino Resort was first for both handle ($215 million) and revenue ($1.6 million). However, this revenue was down 79.3% if compared to $7.6 million delivered last year.

The state gaming regulator also provided an update for video gaming terminals. Total adjusted revenue for VGTs in February was $3 million, 20.5% higher than the same month last year. By the close of February 2022, four VGT operators were operating the maximum permitted five machines at 61 truck stop establishments.

Valley Forge Casino Resort

The land-based casino industry in Pennsylvania currently consists of six racetrack (category 1) casinos, five stand-alone (category 2) casinos, two resort (category 3) casinos and three mini-casinos (category 4). Casino expansion is set to continue over the next couple of years with the anticipated openings of up to two additional category 4 casinos.

However, new casinos coming to the Keystone State could find a different gaming landscape if a smoking ban bill, introduced on Wednesday, passes into law. Under the proposed legislation, smoking would be prohibited in state casinos, plus clubs and bars.

Filed by Rep. Dan Frankel and Sen. Jay Costa, the bill counts with support from Allegheny County Executive Rich Fitzgerald. It would modify Pennsylvania’s Clean Indoor Air Act, which was passed in 2008, seeking to close loopholes currently in place.