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Pennsylvania Gaming Industry Sets Monthly Revenue Record

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Posted on: April 19, 2023, 12:22h. 

Final up to date on: April 19, 2023, 03:23h.

The Pennsylvania gaming business debuted in 2006, however no month over the previous 17 years has been richer than March 2023 by way of gross gaming income (GGR).

Pennsylvania gaming industry casino revenue
The desk video games space at Hollywood On line casino at Penn Nationwide Race Course. The Pennsylvania gaming business loved its greatest month ever in March 2023, as gross gaming income surged previous the half-billion mark for the primary time. (Picture: YDR)

The Pennsylvania Gaming Management Board (PGCB) reported Tuesday that March GGR was simply shy of $515.3 million. The income, which incorporates earnings from land-based casinos, iGaming, truck cease video gaming terminals (VGTs), sports activities betting, and fantasy sports activities, represented an 11% year-over-year improve.

March 2023 broke the state’s earlier all-time month-to-month income report of $462.7 million, which was set in March 2022. The year-over-year distinction was about $52.6 million.

The gaming business in Pennsylvania has given new that means to “march insanity” within the Keystone State, because the month has emerged as a key time and main income generator for the state gaming business. March 2023 was the primary time that GGR within the commonwealth exceeded half a billion {dollars}.

March Insanity

Slot machines on the state’s 17 brick-and-mortar casinos stored $225.4 million of the coin in, whereas retail desk video games generated about $85.8 million. Slot win was up 5%, however desk win was down virtually 9%.

On-line is the place a lot of the gaming income will increase had been earned final month.

iGaming slot income surged 32% to $104.8 million. Interactive desk video games stored about $40.5 million of the web bets positioned, a 13% enchancment. On-line poker rake added about $2.9 million for a mixed on-line haul of roughly $148.2 million.

Sportsbooks additionally fared properly on the extra generally implied “March Insanity” that means. The NCAA males’s school basketball event noticed many favorites lose, inflicting oddsmakers to win massive.

Pennsylvania sportsbooks stored $50.6 million of the $723.5 million wagered, aka deal with. Oddsmakers received 67% extra — or about $20.2 million — than they did in March 2022. The overwhelming majority of the sports activities betting got here on-line, as web sportsbooks accounted for $45.7 million of the maintain.

Curiosity within the school basketball postseason was heightened in Pennsylvania with the Penn State Nittany Lions’ shocking run by way of the Massive Ten event and the group’s first NCAA March Insanity look in 12 years.

Penn Dominating Dwelling Turf

Penn Leisure is the oldest gaming operator in Pennsylvania. The corporate traces its roots again to the early Eighties when it was based as Penn Nationwide Race Course Company. PNRC Corp. would later develop into Penn Nationwide Gaming, the group’s identification till its rebranding final yr to Penn Leisure.

Penn Leisure operates 4 casinos within the state, together with Hollywood On line casino at Penn Nationwide Race Course, Hollywood On line casino on the Meadows, Hollywood On line casino York, and Hollywood On line casino Morgantown.

Final month, Hollywood Penn Nationwide was the highest earner among the many state’s 17 casinos, because the property and its on-line companions reported GGR of $80.8 million. Hollywood On line casino on the Meadows generated gaming earnings of $31.2 million, Hollywood On line casino Morgantown received about $9.5 million, and Hollywood York took almost $9.4 million off of gamers.

In complete, Penn Leisure casinos in Pennsylvania generated GGR of roughly $130.9 million in March 2023.

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