Pennsylvania Gaming Industry Reports Best Year Ever, 2023 Revenue Nearly $5.7B
Add Pennsylvania to the list of states calling 2023 their best twelvemonth ever in terms of gaming. Joining New Jersey, which earlier this week announced enter yearbook revenue, Pennsylvania on Thursday revealed that 2023 was a banner year for its gaming industry.
Pennsylvania has brick-and-mortar casinos, iGaming, in-person and online sports betting, truck halt video gaming terminals, and fantasize sports. In 2023, the varying gaming interests combined to win a record $5.697 billion. The 2023 win represents a 9.3% year-over-year increase.
The year-end account from the Keystone State Gaming Control Board (PGCB) revealed that iGaming, consisting of online one-armed bandit machines and tabular array games, was in the first place responsible for the enter performance. Internet gamblers lost $1.74 billion, 28% to a greater extent than they did inward 2022.
Physical slot machines privileged the state’s 17 casinos also fared well, as the terminals generated register receipts gaming revenue (GGR) of $2.46 billion, a 3% improvement. Oddsmakers saw their sports betting carry mount to a greater extent than 14% to a record $458.6 million.
The other verticals experienced cold-shoulder year-over-year declines. Casino table gritty win dropped 2% to $990.5 million. VGT revenue drop 2% to $42 million, and revenue from phantasy sports contests slowed past 10% to $20 million.
iGaming Surging
iGaming inwards the sixer states where online casinos are sound continues to thrive. The $1.74 1000000000 won by the online channels endure twelvemonth continued the sector’s telling run.
Pennsylvania legalized iGaming through and through the state’s 2017 gaming expanding upon package. Online operations didn’t tour live until late 2019.
iGaming’s for the first time replete(p) yr inwards PA in 2020 came at a most suited time. As the say ordered its physical casinos to shutter amid the pandemic, online casinos were clear for play. iGaming platforms won more than $565.7 jillion that year.
Pennsylvania online casinos have only when furthered their ontogenesis since. iGaming GGR inward 2021 topped $1.11 billion, and ballooned to $1.36 1000000000000 inwards 2022.
The state’s land-based casinos get managed to growth their revenues despite iGaming’s significant revenue increases.
Retail slots and tables won $3.43 one million million lastly year, a 1.6% year-over-year increase. The 2023 cassino win also represents a 7% upsurge on 2021 GGR, but was only 5% richer than pre-pandemic 2019.
While brick-and-mortar casinos inwards iGaming states have got managed to step-up their year-over-year GGRs, analysts experience verbalised concerns that the online games could live slowing more robust brick-and-mortar growth.
Parx Leads
Parx Casino due north of City of Brotherly Love was the top-grossing casino inward the commonwealth in conclusion year. The property won $386.2 zillion on its slots and $202 million on its tables for a combined hale of $588.2 million.
Parx and its sis casino, Parx Casino Shippensburg, are the only when smoke-free casinos inward the state.
Wind Creek Bethlehem placed back with GGR of $526.3 million, with slots accounting system for $285 gazillion and tables for $241.3 million.
As for iGaming, Penn Entertainment’s Hollywood Casino online firebrand led the way of life with revenue of $712.4 million. Penn held an impressive 41% market place portion out of the iGaming industry. There are 12 online casino operators.
Pennsylvania Loses to New Jersey
Nevada and New island of Jersey had long been the country’s 2 richest gaming states until 2022 when Pennsylvania squeaked by the Garden State for s place. Pennsylvania’s 2022 GGR of $5,211,274,456 edged New island of Jersey by simply $28,735.
New Jersey regained the arcsecond bit inward 2023 after reporting GGR of more than $5.77 billion. Sagebrush State hasn’t in time revealed its Dec numbers, but through November, the state’s casinos won more than $14 billion.
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