Pennsylvania Gambling Revenue Hits Record High in 2021-22 Fiscal Year

The Keystone State achieved a new peak in gambling income during the 2021-22 financial period, generating a total of $5.04 billion (£4.19 billion/€4.92 billion) over the 12-month span.

Pennsylvania’s gambling income for the 2021-22 financial period was a record-setting $5.04 billion, signifying a 29.5% surge from the $3.87 billion generated in the 2020-21 financial period, which was the state’s previous peak.

Traditional gambling income made up the largest portion of the year’s total, with retail slot income increasing 27.7% year-over-year to $2.41 billion, while income from table games also leaped 40.7% to $1.02 billion.

Sports wagering income grew marginally by 2.2% to $315.8 million, although the Pennsylvania Gaming Control Board (PGCB) did not release a breakdown of online and retail income for this market segment, nor did it divulge any transaction details.

Valley Forge and partner FanDuel held the top spot in the sports wagering sector, with income of $160.1 million, significantly ahead of Meadows’ Hollywood Casino Barstool Sportsbook at $52.5 million and Penn National’s Hollywood Casino and DraftKings at $23.8 million.

Shifting to online gambling, income reached $1.23 billion, a 37.4% increase from the previous year. While the PGCB did not furnish a comprehensive breakdown of this market, it did disclose that Penn National’s Hollywood Casino led the field with income of $481 million.

The Philadelphia Rivers Casino holds the second spot in the iGaming sector, boasting $319.2 million in earnings. Following closely behind is the Valley Forge Casino Resort, which generated $221.8 million in income for the entire year.

The Pennsylvania Gaming Control Board also highlighted a notable 32.7% surge in video gaming terminal revenue, reaching $41.6 million in the fiscal year. However, fantasy contest earnings experienced a 3.1% dip to $27.3 million, marking the only segment in the Pennsylvania market to witness a year-on-year decline.

Meanwhile, the Pennsylvania Gaming Control Board also unveiled figures for the final month of the 2021-22 fiscal year. Total market revenue for June reached $389.8 million, representing a modest 0.24% increase compared to the same period last year. However, this figure fell short of the $447.8 million generated in May 2022, marking a 13.0% decrease.

Retail slots emerged as the primary revenue source for the month, with earnings climbing 5.5% year-over-year to $193 million. Conversely, land-based table game revenue experienced a 1.9% decline, settling at $76.1 million.

Sports betting revenue plummeted by 62.7% to $12.8 million. Online revenue contributed $11.4 million, while retail revenue amounted to $1.3 million. The Pennsylvania Gaming Control Board also observed a 6.4% year-on-year decrease in wagering volume for the month, reaching $393.5 million.

Valley Forge and FanDuel emerged as frontrunners, generating $5.4 million in revenue on a total wagering volume of $158.2 million. Following closely were Hollywood Casino at the Meadows and Barstool, with $1.9 million in revenue on $88.6 million in wagering. Hollywood Casino at Penn National and DraftKings rounded out the top performers, generating $1.1 million in revenue on $24.2 million in wagering.

In the iGaming sphere, revenue surged by 15.8% to $102.9 million. Online slots revenue contributed $72.3 million, internet table game revenue reached $28 million, and online poker revenue amounted to $2.6 million.

The Pennsylvania Hollywood Casino led the pack, generating $42 million in earnings. Trailing behind was the Philadelphia Rivers Casino, with $25.5 million, followed by Valley Forge Casino Resort, which brought in $18.4 million.

Elsewhere, revenue from video game terminals rose by 6.2% annually to $3.5 million, while fantasy sports revenue dipped 20.4% to $1.5 million.

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