Pennsylvania records $5.04 billion in gaming income for FY21-22.

Pennsylvania records $5.04 billion in gaming income for FY21-22.
20 July 2022 Gambling News

Pennsylvania records $5.04 billion in gaming income for FY21-22.

With a total of $5.04 billion (£4.19 billion/€4.92 billion) throughout the 12-month period, Pennsylvania achieved a new gambling revenue record in its 2021-22 fiscal year.

Revenue exceeded the $3.87 billion recorded in FY2020-21, which was incidentally also the state's past record total by 29.5%.

With retail slot income rising 27.7% year-on-year to $2.41bn and table game revenue similarly rising 40.7% to $1.02bn, land-based gambling attracted the biggest percentage of revenue during the year.

Though the Pennsylvania Gaming Control Board (PGCB) did not publish a breakdown of online and retail revenue numbers for this area of the market, nor did it reveal handle specifics, sports betting revenue crept up 2.2% to $315.8m.

With $160.1m in revenue, Valley Forge and partner FanDuel rated #1 in the sports wagering category, some way clear of Hollywood Casino at the Meadows Barstool Sportsbook on $52.5m and Hollywood Casino at Penn National and DraftKings with $23.8m.

Turning now to igaming, income came at $1.23 billion, a 37.4% rise over last year. Although the PGCB did not present a comprehensive analysis of this market, it did highlight Hollywood Casino at Penn National leading the industry with $481.4m in income.

With $319.2 billion in income, Rivers Casino Philadelphia ranked second in the igaming category; Valley Forge Casino Resort came in on $221.8 million for the year.

The PGCB also observed that although fantasy contests income dropped 3.1% to $27.3m, making it the only section of the Pennsylvania market to show year-on-year decline, video gaming terminal revenue for the financial year climbed by 32.7% to $41.6m.

The PGCB also released figures for the last month of FY2021-22 with overall market revenue for June reaching $389.8m, up 0.24% from $388.9m last year, but 13.0% down from $447.8m in May 2022.

The main source of income for the month was retail slots; income here increased by 5.5% year-on-year to $193.0m. But land-based table income dropped 1.9% to $76.1m.

The PGCB also recorded a 6.4% year-on-year dip in handling for the month to $393.5m. Sports betting income dropped 62.7% to $12.8m; online revenue at $11.4m; retail $1.3m.

Ahead of Hollywood Casino at the Meadows and Barstool with $1.9m from $88.6m and Hollywood Casino at Penn National and DraftKings on $1.1m off a $24.2m handle Valley Forge and FanDuel lead the market with $5.4m in revenue of $158.2m in total wagers.

Regarding igaming, income rose by 15.8% to $102.9m; online slots revenue came at $72.3m; online table games income came at $28.0m; online poker revenue came at $2.6m.

With $42.0m in income, Hollywood Casino at Penn National earned top place here; next on $25.5m Rivers Casino Philadelphia; then Valley Forge Casino Resort on $18.4m.

Elsewise, fantasy sports contest income dropped by 20.4% to $1.5m while video gaming terminal income rose by 6.2% year-on-year to $3.5m.

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