Gaming revenue in Pennsylvania hits $510 million in August 2024

The Pennsylvania Gaming Control Board (PGCB) reported that total gaming revenue for August 2024 reached $510.17 million, an 11.6 percent increase from August 2023.

The PGCB oversees a variety of gaming operations, including slot machines, table games, online casinos (iGaming), sports wagering, fantasy contests, and VGTs located at truck stops.

August 2024 revenue by gaming type

iGaming slots and sports wagering were the two gaming verticals that saw the most significant growth in August 2024:

– iGaming slots: Revenue surged to $138.33 million, a sharp 31 percent increase from $105.27 million in August 2023.

– Sports wagering: Revenue increased 36 percent to $30 million, compared to $22.03 million in August 2023.

Other verticals, including iGaming table games, retail slots, and video gaming terminals, also experienced growth, though less impressive:

– iGaming table games: Revenue grew to $43.18 million, reflecting a 16 percent increase from $37.27 million in 2023.

– Retail slots: Revenue rose to $211.15 million, up 4 percent from $203.19 million in August 2023. Despite a slight decrease in the number of slot machines (24,595 in 2024 versus 25,206 in 2023), the sector continues to prosper.

– Video gaming terminals (VGTs): Revenue reached $3.67 million, a 5 percent increase from $3.48 million the previous year.

Conversely, iGaming poker, fantasy contests, and retail table games saw declines:

– iGaming poker: Revenue dropped to $2.22 million, down 9 percent from $2.44 million in 2023.

– Fantasy contests: Revenue fell to $647,522, an 18 percent decrease from $792,206 in August 2023. Leading platforms like DraftKings and FanDuel saw decreases, while Underdog Sports, Inc. bucked the trend with an impressive 103.9 percent increase in revenue.

– Retail table games: Revenue slightly decreased to $80.96 million, down 2 percent from $82.68 million the previous year.

A booming gaming industry

The Pennsylvania gaming industry remains a major contributor to the state’s economy. The PGCB continues to regulate the industry, which includes 17 land-based casinos, online casino games, retail and online sports wagering, VGTs at qualified truck stops, and fantasy sports contests.
The total tax revenue generated through all forms of gaming and fantasy contests in August 2024 reached $215.05 million. This includes:

– Slot Machines Tax Revenue: $106.85 million.

– Internet Gaming Tax Revenue: $81.95 million.

– Table Games Tax Revenue: $13.44 million.

– Fantasy Contests Tax Revenue: $97,128.

In the 2023/24 fiscal year, the gaming sector generated $2.54 billion in tax revenue,

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