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Pennsylvania Poker Revenue Drops By 10% In Q2 2024
James is a devoted sportswriter. He earned his bachelor's degree in English and Creative Writing from Southern New Hampshire University. He enjoys watching sports and helping gamblers win money.
All posts by James FoglioPublished31 Jul 2024
Pennsylvania poker revenue declined by 10% in the second quarter of 2024. Although total iGaming revenue in the Keystone State reached a record $184.9 million in February, online poker revenue declined by 8.3% year-over-year during the same period.
Online poker in Pennsylvania decreased by 11.2% in April 2024 compared to the same period last year
Per the Pennsylvania Gaming Control Board (PGCB), the state generated just $2.4 million in online poker revenue in June 2023. That’s a 2.9% drop from the $2.5 million it recorded last May. It was also down 6.6% year-over-year.
In April 2024, online poker revenue dropped by 11.2% compared to the same time last year. Online poker revenues also fell by 9.3% to $2.2 million in June 2024. Additionally, online poker raked in $2.3 million in May 2024.
These figures highlight the need for strategies to revitalize the gaming market.
Governor Josh Shapiro’s office has yet to announce whether Pennsylvania will join the Multi-State Internet Gaming Agreement (MSIGA), which could provide a boost through shared liquidity.
HB-2078, the bill which would allow the state to join the MSIGA, was not included in the state budget signed by Shapiro. This means Shapiro could either issue an executive order, or the bill could pass the General Assembly.
Keystone State gambling contributed a record $2.54 billion in tax revenue for fiscal year 2023-2024
Fortunately, the rest of the gambling industry continues to thrive in Pennsylvania. According to annual figures released by the PGCB, licensed gambling operators contributed $2.54 billion in tax revenue for fiscal year 2023-2024.
The $2.54 billion surpassed the previous all-time record set for gaming revenue and tax revenue in fiscal year 2022-2023, with $5.5 billion and $2.36 billion respectively.
This 2023-2024 tax figure is “the result of a record combined revenue generation of over $5.89 billion from casino slot machines and table games, iGaming, sports wagering, video gaming terminals (VGTs), and fantasy sports contests,” the PGCB’s report reads.
Fiscal year 2023-2024 revenue from iGaming was $1.94 billion. That’s a 27.16% increase in revenue when compared to the $1.53 billion generated in fiscal year 2022-2023.
Amounts for revenue and taxes are prior to any possible adjustments by the Pennsylvania Department of Revenue.
The PGCB monitors the Keystone State’s gambling. This includes 17 land-based casinos, online casino games, retail, and online sports wagering. Video Gaming Terminals (VGTs) at qualified truck stops and online fantasy sports contests are also regulated.
