In 2023, Pennsylvania’s gaming revenue shattered records, surging by a remarkable 9.3% to reach an unprecedented high of $5.71 billion, surpassing the previous record of $5.21 billion set in 2022.
This comprehensive revenue figure encompasses a diverse array of gaming segments, including slot machines, table games, sports wagering, igaming, video gaming terminals (VGTs), and fantasy contests.
Among these segments, physical slot machines remained a dominant source of revenue, showing a solid 3.1% increase to reach $2.46 billion.
However, land-based table games saw a slight dip of 1.9% in revenue, totaling $971.7 million.
A significant contributor to this surge in gaming revenue was the rapidly growing igaming sector, which achieved an impressive $1.74 billion in revenue in 2023, marking a substantial 27.7% increase from the previous year.
Although a detailed breakdown of revenue per game type was not published by the Pennsylvania Gaming Control Board (PGCB), data on individual igaming operators showed Hollywood Casino at Penn National leading the way with $712.4 million in igaming revenue.
Valley Forge Casino Resort followed closely with $392.7 million, and Rivers Casino Philadelphia claimed third place with $340.3 million.
Pennsylvania’s igaming sector has been on a consistent upward trajectory since its launch in 2019, first breaching the billion-dollar milestone in 2021.
If these trends persist, it may well exceed $2 billion in revenue by 2024.
In the realm of sports betting, revenue reached an all-time high of $458.6 million in 2023, surpassing the 2022 record by 14.3%.
Player spending, known as the handle, hit an impressive $7.68 billion, representing a 6.0% increase from the previous record set in 2022.
Valley Forge Casino Resort and FanDuel continued to dominate the sports betting market, posting $233.6 million in revenue.
Hollywood Casino at the Meadows and DraftKings followed with $121.1 million, while Hollywood Casino Morgantown and BetMGM secured $21.0 million.
In other revenue segments, VLT revenue experienced a slight drop of 2.0% to $41.2 million in 2023, while fantasy sports contest revenue declined by 10.0% to $20.1 million.
Furthermore, Pennsylvania celebrated an all-time monthly revenue high in December, with total market revenue surging to $534.2 million, surpassing the previous record set in March 2023 by 3.5%.
This represented a 12.5% increase from December 2022 and an impressive 20.1% upswing from November 2023.
Retail slots contributed significantly to this monthly record, generating $207.8 million, a 4.9% increase from the previous year.
Land-based table games also showed growth, edging up 1.6% to $82.9 million.
Igaming revenue soared by 22.7% year-on-year to $165.1 million in December.
This included $116.9 million from online slots, $45.8 million from table games, and $2.4 million from poker.
Hollywood Casino at Penn National led in igaming revenue with $61.0 million, followed by Valley Forge Casino Resort with $41.3 million and Rivers Casino Philadelphia with $31.3 million.
In the sports betting sector, revenue surged by 32.7% to reach $72.5 million, with $67.2 million coming from online betting and $5.3 million from retail.
The handle also increased by 22.6% to $925.6 million.
Valley Forge Casino Resort and FanDuel remained at the forefront, securing $39.2 million in revenue, followed by Hollywood Casino at the Meadows and DraftKings with $19.2 million, and Hollywood Casino Morgantown and BetMGM with $3.7 million.
Lastly, VLT revenue edged up by 3.1% to $3.4 million, while fantasy sports revenue saw an 11.3% decline, dropping to $2.5 million.