Pennsylvania has finally toppled New Jersey off its seat. This is after the state announced its yearly revenue generated from gaming in 2022. Notably, the Keystone State was only able to take second place by a slight margin.
A few days ago Garden State announced its 2022 gaming income was a little more than $5.2 billion. This announcement was followed by Pennsylvania gaming regulators revealing that the state had also generated a little over $5.2 billion.
Meanwhile, Nevada was so much ahead of the Keystone State and Garden State to take its position. In fact, Nevada has been the richest gaming state for years while New Jersey and the Keystone State have been battling to reach the second-best place.
New Jersey retained its place in 2021 by generating around $2.6 million more than Pennsylvania. NJ generated $4.737 billion in 2021 while Penn generated $4.734 billion.
Pennsylvania beat NJ in 2022 by generating $5,211,303,191. This amount came from fantasy sports, video gaming terminals, iGaming, retail, and online sports betting, and physical casinos.
NJ generated slightly lower, $5,211,272,456. This came from iGaming, retail and internet sports betting, interactive poker, and retail casinos in Atlantic City. The Keystone State generated more than NJ with $28,735.
A Record Year
Pennsylvania's 2022 revenue bested the previous income of 4.73 billion, for 2021. This report was revealed by the Pennsylvania Gaming Control Board. This revenue growth is a result of the 2017 Expanded Gaming Act.
The state's legislature authorized fantasy sports, video game terminals, iGaming, and sports betting at several diesel truck stops. The legislature also created opportunities for mini-casinos at brick-and-mortar interests.
While these are somewhat new legal gaming formats, the gaming control board said that these games contributed to the increased revenue in 2022. Additionally, table games played a huge role.
The record revenue also contributed to a record tax revenue. The state earned $2.12 billion in 2022, a $191.7 million increase from the previous year.
Like several years before, Parx generated the most revenue. The gaming site near Philadelphia topped the list of 16 casinos in Pennsylvania, having generated $393.8 million from slot machines, and $243.7 million from other games.
Wind Creek Bethlehem came in second place with gross gaming income of $514.7. The casino was the best table games earner at $242.7.
Further Gaming Expansion in Pennsylvania
Pennsylvania is still far from taking the top position as the richest gaming state. This is because Nevada is still reigning.
The state generated over $13.5 billion in 11 months. It is yet to release revenue for December and the full-year income. However, Pennsylvania is prepared for gaming growth.
Video game terminals will continue to open at new diesel truck stops and convenience stores. For instance, Rutter`s convenience store is seeking approval to offer gaming at more stores. Moreover, there is at least one more mini-casino coming up.
According to various sources, Parx will open a mini-casino at Parx Casino Shippensburg. This casino will take the space formerly occupied by the Lowe department store in Cumberland County.
There could be another mini-casino at State College. This might take a while because the license for the casino is still in a legal row.