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CalvinAyre - Source
Pennsylvania’s online gambling and Sports Betting revenue helped paper over the double-digit losses suffered by
state casinos’ land-based slots and tables in November.
Figures released by the Pennsylvania Gaming Control Board (PGCB) show the state’s gambling licensees reported combined
revenue of nearly $284.3m in November, down a modest 2.7% from the same month last year but a significant step back from October 2020’s $320.2m.
Land-based slots revenue slumped 31.6% year-on-year to $129.5m while table games fell 30% to $52.3m as the state’s
casinos continued to struggle under pandemic restrictions. The retail revenue slide will accelerate when December’s numbers
are released, following their second state-ordered medical shutdown last Saturday that will extend into early January.
The outlook is significantly brighter at the state’s online casinos, which reported revenue of just under $59.8m in November,
a new monthly record, although just barely, rising a mere $15k from October. Online slots brought in $39.4m, digital table
games added $18m and the state’s lone online poker operator (PokerStars) contributed $2.4m.
Sports Betting revenue also hit a new record of $37.35m (after deducting bonus offers to players), about half-a-million
higher than October’s $36.8m. Mobile and desktop channels accounted for the bulk ($31.2m) of November’s betting revenue.
The revenue record was set despite November’s betting handle falling 6.4% from October to $491.9m. All three
of the state’s major Sportsbooks reported decreased handle, led by FanDuel ($176.7m, -2.4%), DraftKings ($110m, -9.2%)
and Penn National Gaming’s Barstool Sportsbook ($55.7m, -8.7%).
The big three will soon have to contend with BetMGM, which plans to soft-launch its sportsbook this week after the
PGCB approved a wagering certificate for Penn National’s under-construction satellite casino in Berks County, on which
BetMGM plans to piggyback. BetMGM launched its Pennsylvania online casino earlier this month and recently added a live dealer option to its offering.
As for the state’s lesser verticals, video gaming terminals (VGTs) brought in $2.25m, while ‘fantasy contests’ added $3m.
The state ordered retail operators to switch off their VGTs last Saturday in tandem with the casino closures,
with the action not scheduled to resume until January 4.
Pennsylvania’s online gambling and Sports Betting revenue helped paper over the double-digit losses suffered by
state casinos’ land-based slots and tables in November.
Figures released by the Pennsylvania Gaming Control Board (PGCB) show the state’s gambling licensees reported combined
revenue of nearly $284.3m in November, down a modest 2.7% from the same month last year but a significant step back from October 2020’s $320.2m.
Land-based slots revenue slumped 31.6% year-on-year to $129.5m while table games fell 30% to $52.3m as the state’s
casinos continued to struggle under pandemic restrictions. The retail revenue slide will accelerate when December’s numbers
are released, following their second state-ordered medical shutdown last Saturday that will extend into early January.
The outlook is significantly brighter at the state’s online casinos, which reported revenue of just under $59.8m in November,
a new monthly record, although just barely, rising a mere $15k from October. Online slots brought in $39.4m, digital table
games added $18m and the state’s lone online poker operator (PokerStars) contributed $2.4m.
Sports Betting revenue also hit a new record of $37.35m (after deducting bonus offers to players), about half-a-million
higher than October’s $36.8m. Mobile and desktop channels accounted for the bulk ($31.2m) of November’s betting revenue.
The revenue record was set despite November’s betting handle falling 6.4% from October to $491.9m. All three
of the state’s major Sportsbooks reported decreased handle, led by FanDuel ($176.7m, -2.4%), DraftKings ($110m, -9.2%)
and Penn National Gaming’s Barstool Sportsbook ($55.7m, -8.7%).
The big three will soon have to contend with BetMGM, which plans to soft-launch its sportsbook this week after the
PGCB approved a wagering certificate for Penn National’s under-construction satellite casino in Berks County, on which
BetMGM plans to piggyback. BetMGM launched its Pennsylvania online casino earlier this month and recently added a live dealer option to its offering.
As for the state’s lesser verticals, video gaming terminals (VGTs) brought in $2.25m, while ‘fantasy contests’ added $3m.
The state ordered retail operators to switch off their VGTs last Saturday in tandem with the casino closures,
with the action not scheduled to resume until January 4.
