Pennsylvania Online Gambling Market Continues to Thrive
The month of May was a great one for online casinos located in the state of Pennsylvania. As land-based casinos remained closed, players took to the online gaming sites to play slots and table games. The month was a success, bringing in $55.8 million in revenues, a new record for the industry. The iGaming industry of the state is still young and quickly approaching its first year anniversary. So far, the state continues to see an increase in revenues each month as time goes by.
Revenue Breakdown and Highlights
The Pennsylvania Gaming Control Board released the May 2020 revenue totals this week, showing that with online casino and poker gaming combined, the state earned $55,838,788. Online slots pushed over the $1 billion mark in wagers for the month while gambling sites were able to generate almost $24 million in tax revenues for the state and local municipalities.
Penn National was able to see a nice increase in their earnings for May with the launch of the DraftKings Casino. The app of DraftKings operates under the same license as the Hollywood Casino, so the company saw nice combined earning total. For Penn, the online slot revenues jumped a whopping 73% due to the new online casino app while table games increased so much that it made up just over 20% of the total revenue earnings.
The top earner for May in the state was BetRivers. They were able to generate just over $17 million for the month which was a 31% hold of the market. Penn National finished in second, followed by Valley Forge and Mount Airy.
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Caesars Entertainment launched in the last few days of April in Pennsylvania, which made May their first full month of operations. They earned just under $1 million.
In total, online casino gaming brought in $51.2 million. This was a 35% increase from the previous month. For online poker, the total came in at $4.6 million. This is a high amount but it is 12% less than April which was a huge month for poker in the Keystone State.
Online Sports Betting Totals
The state also had sports betting figures to consider. While sports have been pretty much nonexistent in the US, there are still options to bet on when looking at international sports. The total sports betting numbers for May came in at $4.8 million, all wagered online.
This was a nice increase from April when only $2.9 million was earned. However, this is far lower than the over $22 million generated in January. The loss of sports due to the coronavirus outbreak has caused a major loss in revenues for online and land-based sportsbooks.
The rebound in sports betting totals is due to NASCAR and UFC. There are also soccer options to be on as the Bundesliga in Germany just recently started back up.
We shall see in the coming weeks how the state fared in June. There is little doubt that the total will only continue to increase as players take advantage of online casino and poker gaming in the state.