Posted on: December 18, 2024, 09:39h.
Last updated on: December 18, 2024, 09:39h.
Pennsylvania gaming revenue reached new heights in November, with iGaming and sports betting achieving record numbers for the month.
The Pennsylvania Gaming Control Board (PGCB) disclosed that total gaming revenue in November 2024 exceeded $562.36 million, marking a 26% increase from the previous November. The boost in revenue was attributed to increased online play and favorable outcomes for sportsbooks during the month.
November set a new record for gross gaming revenue (GGR) in Pennsylvania, surpassing the previous record set in March by generating $554.6 million.
Pennsylvania features 17 land-based casinos, along with iGaming, retail and mobile sports betting, video gaming terminals at truck stops, and fantasy sports.
Highlights of November
Online slots and interactive table games were key contributors to the revenue surge in November, bringing in GGR of $148.6 million (up 36%) and $49.5 million (up 7%) respectively. The total revenue from iGaming surpassed $200.4 million, including around $2.2 million from online poker rake.
November marked the first time that Pennsylvania’s iGaming revenue exceeded $200 million in a single month, showing an increase of almost $42.5 million compared to November 2023.
In addition to iGaming, sportsbooks also reported record revenue of nearly $77.1 million in November, significantly higher than the previous year.
Several sports outcomes favored the house, including upsets in NFL and college football games, contributing to the overall revenue increase.
The struggles of Philadelphia sports teams, such as the 76ers, Flyers, and Penguins, also played a role in benefiting gaming operators.
Valley Forge Leads the Way
Retail slot revenue in November totaled $201.5 million, representing a 6% increase, while retail table revenue was $77.5 million, showing a slight decrease from the previous year. Valley Forge Casino Resort emerged as the top-performing casino in Pennsylvania, largely due to its online operations.
Valley Forge’s total GGR for November reached $102.5 million, with a significant portion coming from its online gaming platforms in partnership with FanDuel. The casino’s online casino operations generated $54.1 million in revenue, while the FanDuel Sportsbook contributed $36.8 million.
Hollywood Casino at Penn National Race Course, operated by Penn Entertainment, ranked second in total revenue at $90.4 million, with a substantial portion coming from its online business as well.
Penn’s ESPN Bet and Hollywood Casino apps attracted $74.4 million from remote players, with the sports betting business adding $2.8 million on a handle of $43.8 million.