FanDuel Sees Competition in Pennsylvania’s iGaming Market
Online gambling has been in full swing in the state of Pennsylvania since last summer. For almost a year now, the state has offered online casino and poker gaming. Players are loving their options, especially now that a stay at home order is in place due to the coronavirus. For March, the state saw more than $24 million earned from online casino and poker games, generating $8.5 million in taxes.
For quite some time, FanDuel has the operator to beat, holding the market share when it comes to traffic and revenues. Last month, the brand fell to third, as Rivers and PokerStars took over the top spots. Rivers claimed the number one spot, followed by PokerStars then FanDuel.
Last month, online slot games brought in $12.38 million, which is a nice increase of around 28%. For table games, the jump was around 9% with $8.78 million earned. Online poker saw the largest increase at 71% with $3.13 million in earnings.
Its SugarHouse and BetRivers that operator under the Rivers Philadelphia license. The sites saw a 42% growth in March and earned $3.9 million in revenues. For PokerStars, they saw poker traffic almost double and revenues jump significantly. The brand earned $4.5 million for the month after paying $1.5 million in taxes.
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FanDuel launched back in January and quickly took over as the top provider in the state. However, over the past few months, the brand has seemingly lost their footing. One reason may be due to their browser offering. They are only mobile, so for people who are stuck at home, players are opting to play via desktop or laptop, which rules out FanDuel.
Even though FanDuel has lost their top spot, the Parx, Hollywood and Unibet brands have stabilized. They remain steady in their regular positions. Parx saw online slot gaming jump over 50% with table games increasing by a solid 22%. Overall, the brand earned $2.7 million last month but after taxes, were only able to keep around $1.5 million.
For Hollywood, the brand saw a slight increase in slots and table games by 13% and 19%. They earned $2.6 million and paid $1.3 million in taxes. For Unibet, the brand was able to earn only $478,000 but they saw a huge increase in slot gaming of 92% for the month.
Bet America is another brand in the state that is relatively new, having launched in late January. They focus on sports betting but do offer casino options. They have seen a nice overall jump from just over $67,000 from when they started to earning well over $425,000 last month.
The online gaming revenues should only continue to increase over the next few weeks as the coronavirus shutdown continues. It will be interesting to see the difference from March to April as the month of April will mark a full four weeks that gaming was not offered at land-based venues and strictly online.
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