Sports Betting Revenue at Pennsylvania Casinos Falls in February

Sports Betting Revenue at Pennsylvania Casinos Falls in February

As the coronavirus pandemic is threatening the Pennsylvania gaming industry, casinos are facing shutdowns. However, revenue figures from February could further elevate their problems.

Lower revenues in February

The Pennsylvania Gaming Control Board (PGCB) released figures for the 12 brick-and-mortar casinos in the state, which earned a total gaming revenue of $304.3 million in February. This figure is $3.5 million higher month-on-month and 13.75% higher year-on-year. Parx Casino took the lead last month and earned a revenue of $57.8 million, marking a 17.5% year-on-year increase.

Sports Betting Revenue at Pennsylvania Casinos Falls in February

Its revenues were $20 million higher than Wind Creek Bethlehem which came in number two. The casino’s revenues dipped by 12.2% year-on-year. The third spot was held by Rivers Casino Philadelphia which earned $35 million in February. Its revenue was only slightly higher than Rivers Casino Pittsburg which earned $34.6 million.

The revenue for statewide land-based slots was higher by 5.1% and reached $199.7 million. Parx clinched the top spot here as well, earning $36.9 million, which is a 9.6% increase. Table games revenue also increased statewide by 4.6%, earning $77.4 million. Parx topped here too with $17.6 million in revenue which increased by 17%.

Online casinos rise but sports betting declines

The state’s online casinos experienced a 40% rise in revenue over January, earning $19.5 million. Online slots earned $9.6 million while online table games earned $8 million. Online poker revenue fell to $1.83 million for the second straight month. FanDuel partner Valley Force Casino Resort bested its peers in online casino revenues, earning $6.05 million. The offering wasn’t live until the last few days of January which makes it a considerable win for the casino. The second spot was held by Rivers Philadelphia which earned $4.75 million. Mount Airy Casino Resort earned $3.2 million.

The sports betting handle of the state fell by 5.3% month-on-month and totaled $329.8 million. This is the first month-on-month decline in sports betting revenue since it launched in November 2018. Retail betting on sports totaled $35.6 million, falling by $4.1 million. Online sports wagering handle also slipped to $294.1 million, marking a decline of $18.5 million.

The overall betting revenue was down to $4.7 million. Retail revenue for the month was just $628k, down from $4.9 million. Online revenue was also down to just $4.1 million. Rivers Philadelphia recorded the highest betting revenue of $1.17 million followed by Meadows Racetrack & Casino earning $1.07 million and Parx earning $946k.

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.