Fanatics Readies iGaming Rebrand in PA as State Sees Record Revenue
LISTEN TO THIS ARTICLE:Fanatics is ready to put the final touches on its PointsBet takeover in Pennsylvania. PointsBet users in Pennsylvania received an email on January 16, announcing that Fanatics will be replacing the current sportsbook and casino provider. The switch is slated to take place sometime next week.
Huge Win For Fanatics
Fanatics acquired PointsBet in May of last year and has been working diligently to integrate its operations into the Pennsylvania market. Once the transition is complete, there will still be 21 online casinos available in the state, making it the second-largest market in the country.
Fanatics is expected to make a significant impact on both the sportsbook and casino verticals in Pennsylvania. The company has a strong reputation for providing a high-quality gaming experience and is well-positioned to attract new customers and retain existing ones.
In a statement, PointsBet assured its customers that all account information, outstanding balances, open bets, Rewards Points, and Bonus Bets will be automatically transferred to the Fanatics platform. However, any Free Spins that may be in a PointsBet Casino account will not be transferred.
Fanatics has already successfully completed a similar migration process in West Virginia, where its first branded casino launched in November. The company provided clear instructions to customers on how to handle the transition, and the process was generally smooth and seamless.
Pennsylvania residents interested in learning more about the Fanatics Sportsbook and Casino can visit the company's website or download the app. The app is available for both iOS and Android devices.
Record Revenue
The move comes at the best time for Fanatics. Pennsylvania's gaming industry continued to thrive in December 2023, with record-breaking revenue across all sectors.
The Pennsylvania Gaming Control Board (PGCB) reported that total gaming revenue for the month reached $534.2 million, surpassing the previous monthly record of $515.2 million set in March 2023. This represents a significant 12.5% increase from December 2022.
Leading the way was Valley Forge Casino Resort in King of Prussia, which generated a staggering $92.1 million in gaming revenue, a remarkable 42.7% increase from the previous year. Hollywood Casino at Penn National in Grantsville followed closely behind, recording revenue of $75.6 million, while Park Casino in Philadelphia posted $57.4 million, marking a 5.2% rise from the previous year.
In terms of slot machine revenue, Pennsylvania casinos brought in $207.7 million in December, a 4.9% increase compared to the previous year. Parx Casino in Bensalem maintained its position as the top slot machine revenue generator, bringing in $32.4 million, although it experienced a slight year-over-year decline of 1.0%. Wind Creek Bethlehem in Bethlehem and Rivers Casino Pittsburgh in Pittsburgh both registered notable increases in slot machine revenue, with Wind Creek generating $23.4 million, a 5.9% rise, and Rivers posting $23.4 million, a 2.2% increase.
The iGaming sector also set a record in December, with total revenue of $165.1 million, including slot machines, table games and poker. Hollywood Casino at Penn National led the pack with $60.9 million in iGaming revenue, while Valley Forge Casino Resort reported $41.3 million and Rivers Casino Philadelphia posted $26.2 million.
Sports betting also reached new heights, with record-breaking revenue of $72.5 million from a handle of $925.6 million. Valley Forge Casino Resort again emerged as the leader, generating $39.2 million in sports betting revenue from a handle of $394.2 million. Further down the list, Hollywood Casino at the Meadows in Meadowlands and Hollywood Casino Morgantown in Morgantown reported sports betting revenue of $19.2 million and $3.6 million, respectively, from handles of $235.7 million and $52.0 million.
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