March 2020 was a terrific month for online casinos in Pennsylvania, as the growth continued from previous months in 2020. From January to February and now through March, the online casino revenue has continued to grow in the Keystone State.
Of course, with sports being suspended and retail casinos being shut down for the time being, it certainly left room for online casinos to grow. Overall, online casino revenue grew by nearly 25%, per the latest report from the Pennsylvania Gaming Control Board. Let’s take a look at the numbers.
PA Online Casino Revenue Tops $24M in March
|Month||Internet Casino Revenue|
|Growth from February to March||$4,775,005|
It was yet another month of growth at PA online casinos, as March took in nearly $5M more of revenue than February in 2020. In Pennsylvania, there are a total of eight online casinos that generated revenue in March 2020. Let’s take a look at each of their individual revenue:
|Online Casino License||March 2020 Revenue|
|Rivers Casino Philadelphia and SugarHouse Casino||$6,757,345|
|Mount Airy Casino Resort (FOXBet/PokerStars)||$5,963,713|
|Valley Forge Casino Resort (FanDuel Online Casino)||$4,969,252|
|Hollywood Casino at Penn National||$2,618,503|
|Mohegan Sun Pocono (Unibet Online Casino)||$803,000|
|Presque Isle Downs and Casino (BetAmerica)||$425,878|
|Total March Online Casino Revenue||$24,265,820|
While Rivers Casino Philadelphia (combined with SugarHouse) led PA online casinos in March, there were five online casino licenses that eclipsed $2M in revenue. Keep in mind that Rivers Casino Philadelphia is a combined license for SugarHouse and BetRivers Casinos. In reality, six total online casinos in Pennsylvania eclipsed the $2M mark for revenue in a month, which is a terrific number. FOXBet via PokerStars Casino in PA had a strong month with nearly $6M in revenue, making it the highest-grossing single online casino in the state…but that includes online poker. Without poker, FanDuel Online Casino was the top-grossing overall operator at just under $5M in revenue.
FanDuel Reports Just 8% Drop in Revenue Amidst Coronavirus
.@FanDuel says revenue from March 16 – April 12 is down just 8% year over year #Sportbiz
— Eben Novy-Williams (@novy_williams) April 17, 2020
This is the power of online casinos in Pennsylvania. Of course in the 2020 time period, FanDuel had added an online casino in Pennsylvania via their Valley Forge Casino Resort license. As noted above, that is a $4.97M number in terms of revenue. With FanDuel being able to diversify into the online casino business, it allows it to weather the coronavirus pandemic much more than other sportsbook operators.
Sportsbooks Betting Handle & Revenue Drops
To no one’s surprise, sports betting numbers dropped in a huge way in March due to most professional sports leagues being suspended due to the coronavirus pandemic. There was supposed to be March Madness betting in March 2020, but the NCAA canceled this year’s tournament which was a massive loss for PA online sportsbooks.
|Month||PA Sports Betting Handle|
This is a massive drop off, but very much expected. For one, the Super Bowl took place in February which boosted those numbers but also there were only two weeks of sports in March and March Madness was canceled. Pennsylvania sportsbooks could have likely done over $350M in betting handle for the month, but finished with nearly a third of that due to the pandemic.
To see the full report from the Pennsylvania Gaming Control Board, see here.
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