2020 starts off hot for PA online casinos, as they reported $300M in gaming revenue for the month of January. In the latest release from the Pennsylvania Gaming Control Board, numbers show a 16.94% increase in revenue, year over year. January 2019, there was $258.98M in revenue for the month, and January 2020 shows $302.8M in revenue for the same period.
The state’s iGaming space has certainly seen changes in the last year, with the addition of many online casinos, sports betting, online poker and more. As the space and offerings increase, more and more tax revenue will be generated for Pennsylvania.
New Casino Offerings Help Grow the Space
In January 2020 alone, there were three new online casinos that joined the list of PA offerings. FanDuel Casino, BetAmerica, and BetRivers Casino entered PA last month, helping the state’s revenue growth. In just eight days, FanDuel Casino reported $2,081,252 in revenue. $1.7M of that was from online table games revenue, and just $375K in online slots. BetAmerica had just under $10K in revenue, but were only live for just over a day in January. FanDuel Casino’s massive revenue in just eight days of business is great news for Valley Forge Casino and the state, as a sign of things to come. BetRivers Casino was added, but too late to report any revenue for January.
The Pennsylvania Gaming Control Board reported a 31% increase from December 2019. Here are the numbers with a twist, showing that FanDuel Casino essentially was two-thirds of the total growth, and in just eight days of business:
|Month||Internet Casino Revenue||FanDuel Casino Revenue|
With $3.3M in growth and FanDuel Casino reporting $2.08M in eight days, the February numbers will be very telling to the overall growth of the internet-based gaming space in Pennsylvania.
PA Online Casino Operators Steadily Grow
|Online Casino||DEC 2019 Revenue||JAN 2020 Revenue||Growth||Growth %|
Four of five PA online casinos that were in Pennsylvania in 2019 showed growth in the first month of 2020, as you can see above. Unibet had the largest growth of 93%, but had the lowest revenue amount. PokerStars Casino saw the only decline, and it was significant of -15%. Hollywood Casino’s growth of 42% resulted in the largest gross increase of over $700,000. With FanDuel Casino reporting $2.08M in eight days, they will undoubtedly top the charts for February. Rumors abound that DraftKings PA Casino will launch in the second quarter of 2020, only adding to the potential revenue growth for online casinos in PA.
Online Casino: Table Games vs Slots
|Gaming Revenue||Total Slot Wagers||Slot Revenue||Slot Hold||Total Table Games Wagers||Table Games Revenue||Table Games Hold|
|January 2020 Totals||$192.7M||$7.2M||3.74%||$274M||$4.6M||1.68%|
The above chart shows just how valuable slot machines are to online casinos, as the total amount wagered was less than total wagered on table games, but the revenue was $2.6M higher from slots. The hold on slots is over twice the hold as table games. Are online gamblers getting sharper by betting on table games more than slots online? Is it because of the offerings? Time will tell.
Online Poker Stays Over $2M in Revenue in Pennsylvania
|Month||Online Poker Revenue||Growth|
Despite the numbers going down from December to January, holding at over $2M in revenue for a second consecutive month is something to note in Pennsylvania. With just one poker operator in Pennsylvania (PokerStars), the numbers will always be lower than most casino games. But as more and more operators enter the space, we will see just how popular poker is (or is not) in Pennsylvania.