Pennsylvania has managed to amass strong gains from the launch of mobile gaming and sports betting, with the amount wagered in November increasing 33% from a month before in October.
PGCB Posts November Results
With Pennsylvania launching online sports betting, the state posted one-third better results in November, amassing over $300 million in total sports betting handle. Mobile betting has helped the Keystone State and specifically business in the state collect unprecedent overall handle.
Specifically, the bets went up to $316.5 million, marking a 31.2% increase from October, the Pennsylvania Gaming Control Board (PGCB) reported. Online betting soared to the whopping $266.7 million over the period, marking a nearly 85% increase.
The retail market also grew a little, probably riding on the popularity of the online segment with the month-over-month results rising to $49.7 million in total handle. The retail segment managed to generated bigger gross gaming revenue (GGR) at around $20.6 million, but about $5.9 million was spent on advertising, tipping the taxable GGR to $14.7 million – down from the October’s results.
How Did Operators Perform in November?
Operators posted positive developments in November, including the duo between Valley Forge Casino and FanDuel, one of the leading sportsbooks in the U.S., which pulled ahead with total handle worth $153 million. This was 29.6% higher than the previous month, PGCB data showed. Estimated $5.8 million was taxable account income.
FanDuel and Valley Forge were largely unchallenged. Rivers Philadelphia, the freshly rebranded SugarHouse Casino, amassed $41.3 million, a far cry from FanDuel’s results over the month. The next property on the list in November was $30.5 million with $2 million spent on promotional credits.
DraftKings, FanDuel’s main rival, made its first step into the market, owing to a partnership with Meadows Casino. DraftKings only amassed $18.1 million in GGR over the period.
Online Casino Market Remains Strong in Pennsylvania
Mobile gaming and sports betting have been a major boost for the Keystone State. Online slots revenue grew to $140.3 million up to 19.4% and revenue soaring to $5.1 million, or 28.1% more than a month before.
Table games notched up $176.5 million, proving a segment even more lucrative than the bulwark of all online gaming – slots. Revenue for operators from table games soared to $2.6 million. Another interesting development was poker with Mount Airy and the The Stars Group.
Mount Airy is presently the only operator have spearheaded poker, one of the weakest segments in the United States, but very popular in the offshore online gaming business. The Rivers Philadelphia may have come second in terms of sports betting, but the property definitely turned out to be the busiest venue among online gaming players.
The amount wagered in November reached $64.2 million from slots alone. The second biggest in terms of slots revenue was Penn National Gaming. Interestingly, the state’s video gaming terminals (VGTs) also managed to amass a fair chunk of the revenue, estimated $659,288.