Pennsylvania Sees Over 10% Revenue Increase Year on Year
Pennsylvania has smashed its previous gaming revenue record with the numbers it has reported for 2022. The state has announced revenue of $5.21bn, a 10.2% increase on the $4.73bn that it took in 2021.
A Strong Year Across the Board
The yearly report from Pennsylvania showed increases in almost every sector. Retail slots broke several revenue records, taking home $2.39bn. This was nearly a 5% increase from the previous year. Table games also saw a big jump, taking $990.6m, which was a 7% increase.
Online casino revenue also had a very strong year in 2022. It generated $1.36bn in revenue, which was an increase of 22.6% from 2021. This was one of several new records that were set in the state.
Hollywood Casino at Penn National was the most successful online operator, generating $561.2m. Rivers Casino and Valley Forge Casino Resort were second and third, generating $326.4m and $225.5m respectively.
Sports Betting Delivers Strong Returns
It wasn’t just casinos that had a strong year. Sport-betting revenue was up 18% from 2021, with overall wagers up by over 10%. Overall revenue was at a high of $401.2m. The total wagered was just over $7bn.
Valley Forge was also one of the top earners here. Along with partner FanDuel, it took home $210.0m. FanDuel’s closest competitor Barstool came second with The Hollywood Casino with revenue of $76.2m. It was also in third place with its other partner in the state, The Hollywood Casino at Penn National, bringing in $21.6m.
One of the only areas that saw a loss from the previous year was fantasy sports. They generated £22.3m, a 23.9% drop year on year.
A Strong End to the Year
Figures were also released for December, with Pennsylvania finishing the year on a high. The overall gaming revenue was up 16.9% on the previous year, with takings of $475m. This was also an increase in revenue from November.
Once again, numbers were mostly up across the board when compared to December 2021. Physical slot machines had a marginal increase of 1.3% at just over $134m, but it was online slots that saw the biggest jump.
Online casino revenue shot up over 31%, setting a new state record with $134.6m. Just over $90m of this was generated from online slots, with table game revenue being at $40m. Once again, Hollywood Casino at Penn National was the biggest earner for the state, with $60.1 in revenue being reported.
Sports betting had a massive increase of 190.3% from December 2021, taking $54.6m, another new state record.
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