Pennsylvania Ends the Most Recent Fiscal Year with Record Revenue
According to the latest figures, the Keystone State generated a little over $3.3 billion during the twelve-month period ending on June 30, 2019. This result represents an increase of 1.84% when compared to the previous fiscal year, and also the second year in a row that gaming revenue in Pennsylvania sets a new record.
The state’s regulator pointed out that sports betting and daily fantasy verticals made a significant impact on the overall results.
Numbers Tell the Full Story
The numbers show these new vertical were the main driving force during the most recent fiscal period, as slot machine revenue recorded only a slight improvement of 1% to $2.37 billion. At the same time, table games generated approximately $10 million less than in fiscal 2017-2018, ending the period with revenue of $885.6 million.
Pennsylvania’s sports betting vertical, whose land-based operations were launched in November last year and online betting option went live in May, generated revenue of $21.7 million. When it comes to fantasy sports, which was launched in May last year, this vertical earned $23.6 million in this fiscal year. During the previous fiscal year, fantasy sports added only $2.3 million due to its limited run.
Philadelphia’s soon-to-be rebranded SugarHouse Casino led the way when it comes to betting revenue in June, generating $932,000. This amount was nearly evenly split between land-based and online betting.
Parx Casino was second-placed with around $386,000, with digital betting accounting for 4.8% of that sum. Rivers Casino in Pittsburgh ranked third, generating revenue of $247,000. It should be pointed out that Rivers ended the month with a net loss of $114,000.
Online betting accounted for less than one-fifth of the total betting revenue in June which reached $2 million. The state claimed almost $700,000 of this sum due to the 36% tax on betting revenue. Digital wagering was available only through three operators during June, accounted for a little over 41% of the entire betting handle.
This time next year, when the PGCB posts its report for the next fiscal period, we can expect another boost as Pennsylvania launched its online casino operations this week.
NetEnt Games Go Live in Pennsylvania
After the state’s online gambling market was successfully launched this week, players in Pennsylvania are now able to enjoy NetEnt’s offering of video slot games.
The Swedish online slot specialist was awarded a license by the PGCB back in March.
With 13 million people, Pennsylvania is the fifth most populous U.S. state, and the second-largest one to have launched online casino. NetEnt partnered with several operators doing business in the state and has been getting ready to offer its games as soon as the new market launches.
Commenting on the latest events, Erik Nyman, Managing Director at NetEnt Americas LLC said he was very pleased that the market in Pennsylvania had opened. Nyman pointed out they were one of the few online casino suppliers offering their games right from the start and added he was convinced that their award-winning online casino games would be much appreciated by players in Pennsylvania.