Pennsylvania entered the new year positively, fueled by an impressive sports betting record established in December.
The Pennsylvania Gaming Control Board (PGCB) reported that sportsbooks in the Keystone State reached an unprecedented milestone, generating a sports wagering revenue of $98.1 million. This figure represents a twofold increase compared to its recorded sports wagering revenue in November.
The gross gaming revenue, adjusted after the promotional credits deduction, is $72.5 million. This surpassed the previous milestone of $63.7 million established in Nov. 2021, setting a historic high.
In December, bettors in the state placed a staggering $925.6 million in total wagers, marking the second consecutive month in which the figure exceeded $900 million.
PA sports betting operators processed bets amounting to $870.4 million, resulting in a gross gaming revenue of $67.2 million. Concurrently, their brick-and-mortar counterparts recorded a handle of $55.2 million with a corresponding gross gaming revenue of $5.3 million.
PA Gaming Revenue Hits $534.2 Million in December
According to the PGCB report, December’s Pennsylvania statewide gaming revenue amounted to $534.2 million. The amount sets a new monthly record for gaming revenue, surpassing the previous record of $515.3 million set in March 2023.
The Keystone State also set a new high in iGaming revenue with $165.1 million in the month in view. The previous record of $159.5 million was set in September.
The state’s gaming revenue sources include sports wagering, retail slots and table games, video gaming terminals, fantasy contests, iGaming poker, slots, and table games.
PA Sports Betting Handle Surpasses $7 Billion in 2023
The Keystone State ended the year on a high, posting a sports betting handle of $7.68 billion. This surpasses the $7.5 billion mark for the first time in a year. In the previous year of 2022, the state reached the $7 billion mark, reporting a sports betting handle of $7.25 billion.
The operators of Pennsylvania sports betting apps reported a win rate of 10.6% in December, a 100% increase from the previous month’s 5.3%.
Regarding tax revenue, sports betting operators remitted $24.7 million to state coffers. Furthermore, the local share assessment accounted for $1.5 million.
Pennsylvania holds the fifth position in the all-time sports betting handle post-PASPA, with a cumulative total of $25.6 billion since its inception. Outranking the Keystone State are New Jersey ($45.7 billion), Nevada ($36.8 billion), New York ($35.8 billion), and Illinois ($25.6 billion).
FanDuel & Valley Forge Casino Dominates Pennsylvania
In the monthly report on sports betting revenue sorted according to casino licensee, the PGCB spotlighted Valley Forge Casino Resort in King of Prussia as the top performer in the state. Partnered with FanDuel, the casino posted an impressive sports wagering handle of $394.4 million in December.
During the month, online bettors placed bets totaling $391.8 million, while the operator reported a retail handle of $2.6 million. The online segment saw a positive revenue outcome, generating $39.2 million, but the retail end suffered a loss of -$5,538.
Securing the second position, DraftKings and Hollywood Casino at the Meadows collectively amassed a betting handle of $235.7 million. This sum comprised $233.2 million from online operations and an additional $2.5 million from its retail location.
Unlike Valley Forge, Hollywood Casino’s brick-and-mortar operations concluded the month in the black, recording revenue of $262,013. Its online platform contributed significantly with an additional revenue of $18.9 million.
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