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Pennsylvania’s Betting Revenues Fail to Match Up to October’s Handling Growth

Sports betting operators in Pennsylvania have seen an increase in wagering to nearly one quarter in October. However, revenue growth failed keep up.

Numbers posted this past Monday by Pennsylvania’s Gaming Control Board PGCB indicate that the operator managed to handle $241.2 million this past October, which is an in increase of 24 percent from September. Online figures totaled $198.7 million, an increase of 25.6 percent from the previous month, while retail numbers were up 17 percent to settle at $42.5 million.

Revenues for October totaled about $14.95 million, a slight increase of 0.4 percent. This flat figure is attributed to a decrease in retail revenue by more than $1 million to a total of $4.64 million, which negated the $1 million rise to settle at $10.3 million.

The management of FanDuel brand and Valley Forge Casino dominated the betting market in Pennsylvania, with a handle of $118 million. About 49 percent of October’s total handle went up 3.5 percent from the previous month, while the online share handle rose by 57.3 percent.
Rivers Casino Philadelphia on Rush Street came in second with a total handle of $37.2 million, and it narrowly edged out Rivers Casino in Pittsburgh, who managed $1.78 million. Another establishment, Casino, Parx Casino, managed $26 million and is ranked fourth while its revenues of $2.26 million saw it rank third.

With regards to the state’s online casino activity, the three operators also registered revenues worth $4.94 million in October, which is almost one fifth more than the previous month. Revenues from online slots rose by 23 percent to about $4million, while online table games went up by 7.2 percent to almost $966k. TSG PokerStars, the state’s only poker operator launched this November, so they are still waiting for their report.

As for land-based tables and slots, revenues fell flat at about $186.9 million, which is a slight decrease from last month’s $188.4 million. The numbers were slightly different at the tables. Revenues rose 10 percent to about $73.2 million. Parx emerged best overall with more than $34.5 million, while another casino, Wind Creek Bethlehem, emerged top overall with its $17.9 million.

Source: https://calvinayre.com/2019/11/18/business/pennsylvania-sports-betting-revenue-grows-slower-handle/

About the author

Catherine Wambui

Catherine Wambui

Catherine Nyaga is a freelance writer covering Real Estate and Technology. Her other interests include Nature, pets and accounting. She recently graduate from Nairobi University with a degree in Accounting.

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