Online casinos and poker rooms in Pennsylvania rose ahead of neighboring New Jersey until April, as digital and retail sports betting replicated those of many other states to support an expected slowdown.
The first generated $ 138 million in revenue through April, making it the second best for Keystone State’s record $ 142.7 million a month and 136.9 million of the state of Garden. Year after year, online casinos and poker rooms grew 30.8% from $ 105.5 million in April 2021.
Online casino games generated $ 135.1 million in revenue with $ 4.2 billion in bets, with poker responsible for the remaining $ 2.9 million. PokerStars led $ 1.8 million in revenue from the latter category.
Penn National, which includes DraftKings, BetMGM, Barstool, PointsBet and Hollywood casinos, led all online casino licensees with $ 54.9 million in gross revenue.
Philadelphia Rivers, including PlaySugarHouse, Borgata and BetRivers casinos, came in second with $ 35.7 million.
On a daily basis, gaming entities remained at the March 31 level at $ 4.6 million. The April win was $ 113.1 million in taxable revenue after $ 24.9 million in promotional spending, which generated $ 47.2 million in state taxes and local assessments.
“The growth of online casinos has been relentless since the beginning of the pandemic, when it would have been a long thought for Pennsylvania to surpass New Jersey as the largest market in the country,” said Katie Kohler, senior analyst at PlayPennsylvania.
“The vertical is likely to be resilient to economic challenges, even if it is not immune.”
Pennsylvania sports betting earned $ 572.8 million in betting in April, 19% more than the $ 479.4 million a year, but 20% less than the March 715 million. This becomes the lowest volume since it was charged $ 348.5 million in August 2021.
Sports betting companies earned $ 49.1 million in gross revenue in April, 36% more than the $ 36 million in April 2021 and 1% of $ 48.5 million of March. This generated $ 12.1 million in state and local taxes.
Online sports betting attracted $ 536.1 million in bets, or 93.6 percent of the state’s April amount. FanDuel led the online market with $ 226.6 million in bets and $ 28.4 million in revenue. DraftKings followed with $ 119.1 million and $ 5.3 million, respectively.
BetMGM was third with $ 65.9 million in betting, generating $ 4.7 million in gross revenue, ahead of Penn National’s Barstool brand application with $ 38.2 million in online betting which generated $ 3.6 million in gross revenue.
Retail sports betting earned $ 36.7 million in betting in April, resulting in gross revenue of $ 3 million. Parx led the way with $ 5.7 million in bets.
“Without football or major sports betting vacations like the opening rounds of the NCAA tournament, sports betting will inevitably lose strength over the summer,” Kohler added.
“If there’s one concern for the industry, though, it’s that bigger economic problems are pushing customers to slow down their spending.
“It’s something that all companies need to keep a close eye on in the coming months, especially for online casinos and sports betting that have only seen growth.”
