Interestingly, Pennsylvania casinos generated a whopping $423.6 million in July 2021. According to the state gambling regulator, this is the highest monthly revenue generated by Pennsylvania casinos in years.
The revenue of July surpassed the previous month with almost $35 million. Meanwhile, June’s revenue was $388.8 million. Also, the June revenue was higher compared to what was generated in the same month in 2020.
Considering the huge impact of COVID on the Pennsylvania land-based casino industry, it remains a mystery how the revenue increased drastically in July.
The Revenue Index of Pennsylvania Land-based Casinos
The casinos in Pennsylvania that earned the highest in the Pennsylvania revenue index were not necessarily the biggest.
Parx Casino, located in Bucks County, recorded the highest revenue with $64m in July. Furthermore, Rivers Casino Pittsburgh got $34.1m. of all that, slot machines brought in $25.3m while table games generated $7.6m.
In the same vein, Meadows Racetrack and Casino followed suit with $20.6 million of their July revenue. Slot machines contributed $14.5m while table games generated $3.2m. Also, Lady Luck Casino, located in Fayette County, recorded a $2.49m. Meanwhile, $2.2m was generated from slot machines and about $226,000 from table games.
Casino Pittsburgh, situated in Westmoreland Mall, got a total revenue of $9.8m, and of all that, $8.4m came from slot machines. Then table games generated $1.35m. According to Pennsylvania Gaming Control Board (PGCB), slot machines brought in the highest revenue generated in July.
The total slots revenue was $222.8m and table games brought in $86.9m.
Online Gambling Statistics and Growth Levels in Pennsylvania
The online gaming industry in Pennsylvania also contributed to the revenue growth recorded in July. What’s more, more of the land-based casinos in Pennsylvania operate an real money online casino platform too.
According to the report, online casinos earned a total of $88.59m. However, online slots machines brought in $63.2m, online table games generated $22.8m, and $2.59m came in from online poker games. The top casinos in terms of iGaming revenue are:
Hollywood Casino at Penn National – 32.1m
Rivers Casino Philadelphia – $25.8m
FanDuel – $14.2m
Considering that the iGaming sector in Pennsylvania is still young, the revenue from the industry is likely to increase in no time. Analysts believe that by July 2022, the Pennsylvania iGaming industry will earn more revenue.
Why Did Sports Betting Revenue in Pennsylvania Drop in July?
Sports betting volume dropped last month compared to land-based and online casino revenues. The sports betting revenue for July 2021 in Pennsylvania has not been this bad since July 2020. The total revenue for sports betting was $304.4m in July, while June was $420m.
Dustin Gouker, an analyst in PlayUSA, noted that bettors in Pennsylvania don’t engage much in sports betting in July. It appears that in July, most of the major leagues around the world are on break. Also, sportsbooks cannot wait for the football season and other major leagues to kick off.
Furthermore, it appears this is not the first time that the sports betting revenue dipped in July. Records have shown that nationwide, July is not the best time for sports betting. In July 2018 and 2019 consecutively, the nation’s sports betting industry recorded the lowest revenues. According to Valerie Cross, seasonal dips in July are nothing to be worried about. He is optimistic that after July, sports betting revenue would increase.
Pennsylvania Gambling Industry Seems Healthier – Why?
The Pennsylvania casinos are currently operating with coronavirus restrictions. Recently, the brick-and-mortar venues are no longer subjected to the restrictions imposed a few months ago.
A few months ago, smoking was restricted at all Pennsylvania land-based casinos. Right now, indoor smoking is allowed at the casinos. Furthermore, all the slot machines removed to allow social distancing have been moved back to their previous positions. Also, table games are operating at their full complement of seats. Not to mention, table games were also instrumental in the revenue increase witnessed in July. Unlike in July 2020, table games recorded a 65 percent increase in July 2021. With slot machines also faring well, the outstanding revenue growth couldn’t have done any better.
The Future of Pennsylvania Gambling Industry
No doubt, the future of the Pennsylvania gaming industry looks bright. Considering the growth recorded in July, analysts expect that August and the coming months would be better.
Since online gaming is legal in Pennsylvania, it would help the state earn more revenue. Besides, during the lockdown, the state’s gaming revenue was derived mainly from online gambling. Pennsylvania legalized online gambling in 2017, and they were the fourth state to do so.
Undoubtedly, with online gaming complementing land-based casinos in Pennsylvania, their gambling industry will be better off. Finally, analysts are hopeful that revenue growth in the Pennsylvania gambling industry would continue.