Pennsylvania Online Casino Market Finishes 2023 With Another Record Revenue Haul
The online casino market in Pennsylvania is not just alive and well; it’s well and truly kicking with the latest set of numbers detailing the revenue earned in December 2023, marking another milestone record for the industry in the Keystone State.
The PGCB (Pennsylvania Gaming Control Board) have reported that licensed regulated operators brought in a total of $204.2 million in revenue in December, which is the first time that revenue has broken the $200 million barrier in the state.
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Unsurprisingly, the biggest driver of revenue last month was slot games, which brought in $155.9 million, with table games accounting for $45.8 million of the revenue, and the remaining $2.4 million was accrued from online poker games.
The numbers for December meant that for 2023 as a whole, revenue generated in Pennsylvania broke through the $2 billion barrier, with a total of $2.1 billion secured over the course of the year, a marked improvement on the $1.67 billion made in 2022.
Additionally, the numbers for December 2023 confirmed that tax revenue made from online casino action in the state has now passed $2 billion in lifetime taxes, which goes to show how beneficial the industry has been in terms of boosting state coffers.
Sports betting revenue in the state has also greatly increased, with operators showing a 32.7% year-on-year increase in December. Over the course of the year, the handle for 2023, i.e. the amount bet, was a massive $7.6 billion, a 5.5% increase on that same number for 2022.
Pennsylvania has long been an online casino success story, and the fight to earn the biggest chunk of the market share continues unabated. New operators have joined the market, with Jackpot City launching in December 2023.
Fanatics Casino will launch in January 2024, and that will bring the total number of brands in the state to 21. PointsBet is one operator that left the state.
Recent reports suggest that Videoslots, which is partnered with Caesars, will also join the state in 2024.
On the ongoing upward trajectory of the market, Chris Imperiale of PlayPennsylvania commented,
“Pennsylvania online casinos continue to break records. This December, they exceeded $200 million in gross revenue for the first time ever, finishing the month with a total of over $204 million. The new all-time, all-market US mark narrowly took down the previous best from November by about $12 million. December saw an increase in production of about 6.4% from last month, while the performance topped year-over-year figures by more than 22%. This is now the fourth consecutive month with revenue surpassing $186 million. With 2023 now complete, PA online casinos ended the year with over $2.1 billion in revenue, setting another new record.”
One can only imagine that in 2024 the providers offering online casino services in Pennsylvania are ready for yet another bumper year.
Disclosure: This article contains sponsored content.