PA online casinos

During the coronavirus pandemic, casinos have been closed, many (nearly all) professional sports leagues have been suspended, and sports betting revenue and in-person casino revenue has nearly screeched to a halt. That part we knew. Now what we may not have expected is a massive gain in revenue numbers as far as online iGaming for Pennsylvania. That is just what happened for the month of April though, as iGaming revenue jumped nearly $20M. Let’s take a look at the latest numbers from the Pennsylvania Gaming Control Board.

 

PA Online Casino Revenue Erupts in April

Month Internet Casino Revenue
December 2019 $10,624,699
January 2020 $13,957,539
February 2020 $19,490,815
March 2020 $24,265,820
April 2020 $43,067,881
Growth from March to April $19,802,061

Online casinos have become the go-to for gambling in Pennsylvania during the COVID-19 pandemic, as you can clearly see. In April, PA online casinos brought in over $43M in revenue just from online games. With the addition of the popular DraftKings Casino in the state, expect May’s online casino revenue to increase again despite the coronavirus concerns. With growth from $24.2M in March to $43M in April, can we see $50M in online casino revenue in May? Time will tell.

 

Rivers Casino

Online Casino License April 2020 Revenue
Rivers Casino Philadelphia and SugarHouse Casino $13,706,460
Mount Airy Casino Resort (FOXBet/PokerStars) $10,448,579
Valley Forge Casino Resort (FanDuel Online Casino) $7,935,915
Hollywood Casino at Penn National $4,554,645
Parx Casino $4,113,932
Mohegan Sun Pocono (Unibet Online Casino) $1,833,398
Presque Isle Downs and Casino (BetAmerica) $214,072
Harrah’s Philadelphia $231,464
DraftKings Casino PA $29,416
Total April Online Casino Revenue $43,067,881

Note: DraftKings Casino was only two days of TESTING revenue, launch was May 1.

The online casino space is getting very competitive in Pennsylvania, and that will only grow with DraftKings Casino launching May 1st. For April, Rivers Casino Philadelphia produced the most revenue (combined with SugarHouse) at $13.7M. Just behind was FOXBet and PokerStars who had a terrific month of April with $10.49M. Remember, that $5.25M of that came from poker, which is a sign of things to come in Pennsylvania as long as sports are away. Even without Poker, FOXBet had a terrific month of over $5M in revenue, playing it in the top three either way.

DraftKings Casino PA did only $29K in April, but that is very misleading. That is only two days of testing, and launch occurred on May 1st. Expect to see DraftKings Casino near the top when May numbers are released. It is a very popular choice in the PA online casino market, and is expected to be an immediate competitor as far as market share is concerned.

 

Sports Betting Handle & Revenue Plummets Due to COVID-19

Month PA Sports Betting Handle
February 2020 $329,765,782
March 2020 $131,330,059
April 2020 $46,015,988
March to April Delta -$85,314,061

This was expected. With literally no MLB, NBA, PGA, NFL, CBB, CFB, and many other sports in April, for the betting handle to even eclipse $45M is a feat in itself. Of course, this is a huge hit to sportsbooks but it was not unexpected with coronavirus. The two sportsbooks that took the most bets in April were FanDuel Sportsbook and DraftKings Sportsbook, as expected. FanDuel Sportsbook (via Valley Forge) brought in $19M in handle, and DraftKings (via Meadows) brought in $12.6M. Between the two giants, they cleared $31.5M of the handle, which is nearly three-quarters of the total betting handle.

To see the full report from the Pennsylvania Gaming Control Board, see here.

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