Pennsylvania 2023 gambling revenue hits record $5.7 billion, driven by iGaming surge

Pennsylvania's gambling industry achieved a new milestone in 2023, reporting a record-breaking $5.69 billion in revenue, marking a 9.3% increase from the previous year's high of $5.21 billion.

According to data released by the Pennsylvania Gaming Control Board, the corresponding tax revenue reached a record $2.34 billion, surpassing the 2022 figure of $2.12 billion. This surge was primarily attributed to a substantial 28% growth in iGaming revenue, amounting to $1.74 billion for the year.

The diverse revenue sources encompass slot machines, table games, sports wagering, iGaming, video gaming terminals, and fantasy contests, according to the Gaming Control Board.

Physical slots maintained their revenue lead, experiencing a 3.1% rise to $2.46 billion, while land-based table games revenue declined by 1.9% to $971.7 million.

Parx Casino led retail slot machine revenue at $386.2 million, followed by Wind Creek Bethlehem ($285 million). The casinos swapped their places for land-based table revenues, with Wind Creek Bethlehem posting $241.2 million and Parx Casino delivering $202 million.

Among iGaming operators, Hollywood Casino at Penn National led with $712.4 million, followed by Valley Forge Casino Resort with $392.7 million, and Rivers Casino Philadelphia with $340.3 million.

In sports betting, Pennsylvania achieved a record-high revenue of $458.6 million, a 14.3% increase from the previous year. Player spending on sports betting, also known as handle, reached $7.68 billion, marking a 6.0% increase from the 2022 record. Valley Forge Casino Resort and FanDuel led the market with $233.6 million in revenue, followed by Hollywood Casino at the Meadows and DraftKings with $121.1 million, and Hollywood Casino Morgantown and BetMGM with $21.0 million.

Video Gaming Terminal (VLT) gambling reported a 2% drop in revenue to $41.2 million, while fantasy sports contest revenue saw a 10% decline to $20.1 million in 2023.

Besides the record yearly revenue, Pennsylvania's total market revenue reached an all-time monthly high in December, hitting $534.2 million. This figure surpassed the previous record set in March 2023 at $515.3 million, while also marking a 12.5% increase from December 2022's $475.0 million and a significant 20.1% upswing from November 2023's $444.5 million.

The Pennsylvania Gaming Control Board oversees the comprehensive gambling landscape, managing 17 casinos, including racetrack casinos, stand-alones, resorts, and mini-casinos.