During the coronavirus pandemic, the online casino industry has boomed. While it sounds odd on the surface, it makes a ton of sense given the retail casinos have closed. With online gaming continuing to grow, there is no doubt that the online gaming revenue will continue to rise. Let’s take a look at the record-breaking numbers from May.
PA Online Casino Revenue Shatters Records in May
|Month||Internet Casino Revenue|
|Growth from March to May||$31,572,969|
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.
The above was our breakdown for the April revenue breakdown. As Pennsylvanians sat at home during the pandemic in May, they certainly gambled. With $55.8M in total casino revenue including over $1B in online casino handle just on slots, it was an amazing month for the online casino industry in PA.
DraftKings Casino Notches $3.7M in First Month
|Online Casino License||May 2020 Revenue|
|Rivers Casino Philadelphia and SugarHouse Casino||$17,584,381|
|Mount Airy Casino Resort (FOXBet/PokerStars)||$10,889,048|
|Valley Forge Casino Resort (FanDuel Online Casino)||$8,029,446|
|Hollywood Casino at Penn National||$5,287,708|
|DraftKings Casino PA||$3,704,507|
|Mohegan Sun Pocono (Unibet Online Casino)||$2,402,843|
|Presque Isle Downs and Casino (BetAmerica)||$137,001|
|Total May Online Casino Revenue||$55,839,789|
Launching an online casino in the middle of the pandemic is oddly good timing for DraftKings Casino, and they brought in $3.7M in revenue for the first month (May 2020). Of the $55.8M in online casino revenue, $27M comes from Rivers and Mount Airy (FOXBet). With how much money the online casinos made in May during the pandemic, it is wise to believe that the online casino industry will continue even after the pandemic. With $43,067,881 in April revenue, a $12M growth to May is terrific.
Sports Betting Handle Rises in May 2020
|Month||PA Sports Betting Handle|
These numbers are way better than expected. The two sportsbooks that brought in the majority of the handle in May were FanDuel Sportsbook and DraftKings Sportsbook, as expected. FanDuel Sportsbook (via Valley Forge) brought in $29.6M in handle, and DraftKings (via Meadows) brought in $21.7M. Between the two, they cleared $50M of the handle, which is a massive number. With sports starting to come back in June, expect the sports betting revenue to rise in June.
To see the full report from the Pennsylvania Gaming Control Board, see here.