PA Online Casino Apps Continue To Break Revenue Records After Q1 2023
The Pennsylvania online casino market continued to soar in March, shattering the state’s previous high-water revenue totals.
New Record!
Casino games offered online generated gross revenue of $148,189,028 during March 2023 compared to $118,118,408 in March 2022 an increase of 25.46%. Monthly revenue records were set for slots, table games and overall iGaming revenue according to the Pennsylvania Gaming Control Board.
The big March number, which easily clears the national record for monthly casino revenue, continues a recent growth trend in Pennsylvania. While revenue growth hasn’t been completely linear, the state previously set revenue highs in October, November, and December of 2022 before flattening a bit to open 2023.
A breakdown of revenue of casino games offered online is as follows:
Tax revenue generated from internet gaming play during March 2023 was $63,534,618.
Perhaps even more revealing about the state’s booming industry is the greater than 25% year-over-year growth. This bump is comparable to the greater than 28% YoY growth in February, demonstrating sustainability in the increased activity.
To date, Pennsylvania has racked up over $4 billion in total revenue since operators first launched in July 2019. The hurdle was first cleared last month, in which PA became the fastest market ever to reach $4 billion in revenue, easily besting the pace set by neighboring New Jersey.
With nine online operators currently in-play and a few more with plans to launch later in 2023, including the Bally Casino app, it’s a good bet the March numbers will be eclipsed at least a time or two more this year. In all, despite a maturing market, all data points to a rapid upward trajectory, one that calls into question just how high the ceiling will ultimately be for PA online casino apps.
PA Online Casino: A Closer Look at Record Month
The Pennsylvania online casino market has been a competitive space, and the arms race will only continue to escalate in the coming months.
Brands let BetMGM Casino and DraftKings Casino have helped power the Hollywood Penn National license into pole position, bringing in over $62.3 million in total March revenue.
Note that the PGCB reports by license, so individual operator revenues aren’t spelled out.
In fact, that figure nearly doubles that of the closest competitor, Rivers Philadelphia, which through brands like BetRivers, SugarHouse, and Borgata eclipsed $30.4 million. Meanwhile, Valley Forge Casino, through the strength of the FanDuel Casino app, trailed closely behind by putting up more than $31.8 million in revenue.
One of the most recent entrants into the market, Caesars Casino PA, helped Harrah’s Philadelphia make incremental gains, tallying $4.2 million.
It’s All About Slots in Pennsylvania
The top PA Casino apps continue to tweak and expand slot offerings, and the reasoning for such an emphasis is evident with a dive into the March revenue breakdown by game.
Online slots accounted for $104.8 million in revenue, easily besting the $40.5 million generated by table games like roulette and blackjack. In a distant third was poker, which accounted for just $2.9 million of the total pie.
Essentially, what this shows us is that not only do slots continue a dominant run in terms of popularity amongst users, but such games are, by far, the most profitable for operators. It makes it easy to understand why the DraftKings Casino bonus can be above $2K for new players when you see this kind of revenue.
