Pennsylvania’s Digital Casinos Produce Nearly $2.5 Billion in FY Profit

The Pennsylvania Gaming Control Board’s report indicates that taxes reached $2.8 billion, reflecting a 10% increase compared to the previous year.

Online Segment’s Achievements

Digital gambling earnings totalled $2.48 billion, up from $1.95 billion last year.

Among the top performers were:

1. Hollywood Casino at Penn National Race Course — $935.8 million (+24.6%). Its BetMGM, DraftKings, Fanatics, and Hollywood Casino digital portals operate under a single certification.
2. Valley Forge Casino Resort — $675.2 million (+39.9%). The licence provides access to FanDuel and Stardust’s content.
3. Rivers Casino Philadelphia — $411.7 million (+15.4%). The permit is used by BetRivers and Borgata.
4. Golden Nugget — $79.7 million (+102.9%). The result was attained entirely by Golden Nugget Online Casino.

Wind Creek Bethlehem reported revenue of $18.1 million, a 20.6% decrease, which turned out to be the lowest outcome of the year. Mount Airy Casino Resort, running PokerStars, also saw a decline with $42.6 million, down 7.9%. After choosing not to partake in the interstate card game’s launch in April, the entertainment portal experienced a loss of audience and profit.

Bookmakers’ Financial Results

The total sports betting volume grew by 7%, reaching $8.72 billion. However, revenue stayed at nearly the same level, amounting to $487.6 million and marking a 0.2% YoY increase. More than 94% of the turnover was generated through mobile wagering apps. Tax deductions from sportsbooks totalled $175.6 million, an upsurge of $436,000 compared to the previous year.

Among the segment’s leading performers are FanDuel with $250.3 million (+0.37%) and DraftKings with $131.2 million (-4.34%).

Industry analysts suggest that rising player activity, amidst steady earnings, points to shrinking margins for niche operators. This is probably caused by aggressive promotions and substantial payouts to clients.

Offline Casinos: Slots and Table Games

Despite the expansion of the digital vertical and the emergence of unregulated skill-based machines, land-based gambling facilities remain relevant and popular.

Slots generated $2.44 billion (+0.08%). Among the leaders were:

• Parx Casino — $377.7 million (+0.19%);
• Live! Casino Philadelphia — $152.1 million (+5%);
• Hollywood Casino York — $85.3 million (+6.4%).

Harrah’s Philadelphia experienced the largest decline in income, falling to $105 million (-4.4%).

Table gaming profit decreased to $928.9 million, a 3% drop. Valley Forge Casino Resort demonstrated the strongest performance, with a 10.3% revenue upsurge. Hollywood Casino Morgantown also saw a significant rise of 10.1%. Other brands experienced either less notable results or even substantial declines, with losses reaching up to 22.2%.

VGT revenue grew slightly to $41.4 million (+0.7%). They are now available at 75 locations (up from 74 last year). Meanwhile, fantasy tournaments decreased by 0.7% YoY to $19.1 million.