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 casinos pop off in April!
💰$43.1M revenue in April v.s. $24.8M in March!
Mt. Airy = Pokerstars/FoxBet….charging hard at Rivers for the #1 spot!
Valley Forge = FanDuel Casino
Mohegan Sun = Unibet….underwhelming numbers pic.twitter.com/OwxO8w5vNs
— PA Sportsbooks (@PASportsbooks) May 18, 2020
PA Online Casino Revenue Erupts in April
|Month||Internet Casino Revenue|
|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.
|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|
|Mohegan Sun Pocono (Unibet Online Casino)||$1,833,398|
|Presque Isle Downs and Casino (BetAmerica)||$214,072|
|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|
|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.