VGTs and online casinos lead growth in Pennsylvania

Garance Limouzy October 18, 2024

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VGTs and online casinos lead growth in Pennsylvania

Pennsylvania’s gaming landscape continued its upward trajectory in September 2024, with total revenue reaching approximately $505.9 million—a 6.17 percent increase compared to the same month last year, as reported by the Pennsylvania Gaming Control Board (PGCB). Total tax revenue generated from these activities amounted to around $211.2 million for September.

In September, Pennsylvania’s key casinos showcased varying performance levels, with Valley Forge Casino Resort leading the way, generating approximately $85.6 million—an impressive 29.55 percent increase from last year’s $66.1 million. Hollywood Casino at Penn National Race Course also experienced growth, with revenue rising to about $82.5 million, reflecting a 7.1 percent increase compared to the same month in 2023. Conversely, Parx Casino faced a decline, reporting a 6.52 percent decrease in revenue, which dropped to approximately $52.2 million from $55.8 million in the previous year.

Online casino games and VGTs still experiencing growth

The PGCB provided a comprehensive overview of revenue across various gaming formats in September.

Retail slot revenue experienced a slight decline, totaling around $197 million, which represents a 1.48 percent drop from last year’s $199.9 million.

In contrast, online casino games saw noteworthy growth, generating approximately $176.7 million—an increase of 10.79 percent compared to $159.5 million in September 2023.

The sports betting sector demonstrated remarkable progress, with the total handle reaching about $811.3 million—an 11.71 percent year-over-year increase. Taxable revenue in this area soared by 46.13 percent, amounting to approximately $53.5 million.

Additionally, video gaming terminals generated around $3.4 million in adjusted revenue, reflecting a 3.59 percent increase from the previous year.

However, the fantasy sports segment faced a downturn, reporting revenue of about $1.9 million, a 4.83 percent decrease from the prior year.

Looking ahead

Pennsylvania’s gaming market remains one of the most dynamic in the country, balancing robust land-based and online gaming operations.

Despite some segments experiencing a dip, the overall positive trajectory suggests a resilient market. As operators adapt to changing trends, the future of gaming in Pennsylvania looks promising, particularly with ongoing discussions around joining the Multi-State Internet Gaming Agreement (MSIGA).