Pennsylvania’s Casinos Can’t Keep Up Momentum as Revenue Drops in November
In its latest report on Tuesday, the Pennsylvania Gaming Control Board disclosed a marginal dip in gaming revenue for November. The total revenue for the month equaled $444.47 million, and it was generated from various gambling activities.
Finishing the month right below the $445 million represents a decline of 1.7% compared to last year. In contrast to a slight reduction, the PGCB determined that sports wagering continues to significantly impact revenue.
In November, sports wagering witnessed a handle of $934.1 million, and this was the first time the figure had surpassed the $900 million mark.
Taking the lead in the state, Hollywood Casino at Penn National, located in Grantsville, boasted a gaming revenue of $66.6 million. Despite a 6.5% decrease compared to November 2022, the casino remained a strong competitor in the industry.
Meanwhile, Valley Forge Casino Resort in King of Prussia experienced a year-over-year decline, generating $60.6 million, which represents a decrease of 6.3%.
Similarly, Park Casino in Philadelphia reported revenue of $51.1 million, marking a 2.9% decrease from the previous year. November, therefore, presented a series of mixed results for Pennsylvania’s gaming landscape.
In a solid performance among the state’s casinos, Harrah’s Philadelphia reached double-digit growth in 2022, recording a revenue of $19.2 million, which is a substantial increase of 10.9%.
The slot revenue landscape in November witnessed an overall uptick of 2.3% year over year, totaling $189.7 million. Parx, despite leading in slot revenue with $29.7 million, experienced a marginal year-over-year dip of 0.9%.
Wind Creek Bethlehem, on the other hand, saw a commendable 8.8% surge, amassing $22.8 million in slot revenue. Meanwhile, Rivers Casino Pittsburgh faced a slight setback, with slot revenue at $20.5 million, which represented a 1.5% decline.
In the digital casino landscape, the state’s revenue soared to $109.3 million, where Hollywood Casino at Penn National took the lead with $61.1 million.
Valley Forge Casino Resort secured $41.1 million in iGaming revenue, while Rivers Casino Philadelphia contributed $27.7 million.
Valley Forge Casino Resorts maintained its stronghold as a sports-betting leader, boasting a handle of $384.1 million and generating revenue of $8.4 million.
Hollywood Casino at the Meadows in Meadowlands also demonstrated a solid performance in sports-betting revenue of $7.9 million, driven by a substantial handle of $253.1 million.
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