The Pennsylvania Gaming Control Board (PGCB) has reported that the combined revenue from all authorized gambling products, including fantasy contests in March 2024 surged to a new record of $554,625,294, surpassing the previous all-time monthly record of $534,215,808 set in December 2023. The statewide total was up 7.64% from the March 2023 total revenue of $515,278,831.
Online gaming continued to be at the forefront of the overall growth, with a revenue of $191,086,114 in March 2024, which is 28.95% higher compared to March 2023’s total of $148,189,028.
The PGCB provided detailed information on all sources of gaming revenue under its regulation, including slot machines, table games, online gaming, sports betting, fantasy contests, and video gaming terminals (VGTs).
When comparing the separate filings of gambling operators from March 2023 and March 2024, Parx Casino Shippensburg’s revenue growth was the highest, up 28.86%, from $3,065,542 to $3,950,153. Although with quite more substantial income, Valley Forge Casino Resort ranked second in terms of growth, up 28.46%, from $68,510,263 in March 2023 to $88,008,949 in March 2024. The Casino at Nemacolin rounded out the top three, with a 23.60% total revenue growth, from $1,643,538 in March 2023 to $2,031,471 in March 2024.
When looking into the revenue year-over-year by types of games, the retail slots revenue was up 1.10%, from $225,408,088 in March 2023 to $227,891,331 in March 2024. Of all land-based casinos, the Parx Casino Shippensburg was once again the leading one, in terms of growth in slots revenue – 32.31%, from $2,903,476 in March 2023 to $3,841,602 in March 2024. As the PGCB reported, the number of slot machines in casinos decreased from 25,643 in March 2023 to 24,886 in March 2024.
Online slot revenue, by contrast, surged from $104,827,884 in March 2023 to $135,519,554 in March 2024, denoting a far more substantial growth of 29.28%.
Revenue from table games at land-based casinos dropped by 0.77%, whereas their online counterparts demonstrated an increase of 31.18%.
Revenue from Sports Wagering, VGTs, iGaming Poker, and Fantasy Contests Declined
Revenue from sports wagering, VGTs, iGaming Poker, and Fantasy Contests experienced a decline, with the latter being the most substantial one, 21.07% down from $1,398,651 in March 2023 to $1,103,979 in March 2024.
Revenue from online poker dropped by 14.36%, from $2,889,710 in March 2023 to $2,474,651 in March 2024. Similarly, sports wagering revenue fell by 10%. The decrease in VGTs revenue was the slightest one, of just 0.48%.
Nevertheless, the decrease in the above-mentioned gaming products was not sufficient to offset increases across the other verticals.
All sources of gaming have generated a total tax revenue of $229,566,989 during March 2024. Slot machines alone accounted for nearly half of the total tax revenue – $114,998,778. The tax revenue from table games was $13,986,818.
