In Pennsylvania, their regulated gaming market continues to be a source of profit. Data provided by the Pennsylvania Gaming and Control Board (PGCB) reports that the Keystone State generated $504.6 million in total gaming revenue. Compared to April 2023, that’s a 5,8% year-over-year increase. Pennsylvania-regulated gaming market offers DFS contests, slot machines, iGaming, sports betting, table games, and video game terminals. Pennsylvania walked away with $209.9 million in tax revenue from April 2024. Higher than the $195.6 million total from April 2023.
What operators were the most profitable in April?
Last month, Pennsylvania accepted $646 million in wagers. Making them one of the largest regulated sports betting markets in the US. Sportsbook operators in the Keystone State could attest to that. In PA, 12 online sportsbooks also have physical retail locations. Without surprise, FanDuel was the most profitable operator in April 2024 in Pennsylvania. The industry titan is a Valley Forge Casino partner. They had the largest handle and revenue from any single sportsbook in April. FanDuel generated $25.4 million in gross gaming revenue and had a betting handle of $272.3 million. During April 2023, Fanuel posted $21.3 million in gross revenue and had a betting handle of $225 million.
Coming in at second in PA was DraftKings. They generated $9.8 million in gross revenue and had the second-highest betting handle at $168.2 million. For comparison, they had $10.2 million in gross revenue and a betting handle of $157.3 million in April 2023. Coming in at third in the PA betting market was Penn Entertainent’s ESPN Bet. For just launching in November 2023, ESPN Bet is doing well in a highly competitive market. Penn Entertainment had $2.1 million in gross revenue and a betting handle of $41.6 million in April 2024.
Which operators took a hit in April 2024?
BetRivers Casino had significant losses in PA this past April. They reported an $18.7 million betting handle, up slightly from their $17.9 in April 2023. However, BetRivers reported a loss of $82,387 in gross revenue. Bringing their total to $591,769. Their losses were the most of any licensed operator in Pennsylvania.
Additionally, the iGaming market in Pennsylvania thrived in April 2024. They are one of seven US states with a regulated iGaming market. Last month, the iGaming market closed at $173.4 million. That’s up 26% from April 2023. Interactive slots generated $126 million in gross gaming revenue. In total, they had $3.4 billion in wagers received. That’s in one month. Imagine how profitable this could be in five years. The online gaming market in Pennsylvania is undoubtedly thriving and is not showing any signs of slowing down.
