Pennsylvania iGaming Drives May Gambling Revenue Growth
May was a good month for the Pennsylvania gambling sector as the state recorded notable gains in its sports betting, iGaming, and land-based gambling markets.
iGaming revenue grew by 23.5% year-on-year to $174.1 million in May 2024.
LISTEN TO THIS ARTICLE:Pennsylvania generated $521.0 million in gambling revenue in May, up 8.7% year-on-year compared to May 2023's $479.4 million. The total was also 3.3% higher than the $504.6 million recorded in April. Total gaming tax revenue for May reached $216.3 million.
The boost in overall revenue was driven by significant growth in iGaming, which experienced a 23.5% year-on-year increase in revenue to $174.1 million.
However, traditional land-based slot machines continue to be the main contributor to gambling revenue in the Keystone State. In May, the vertical generated $214.1 million, an increase of 1.6% year-on-year. Table games revenue also surged by 2.5% year-on-year to $83.7m.
In the month, slot machines and table games contributed $108.4 million, and $13.8 million as tax contributions to the state.
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FanDuel Leads Mobile Betting Market
Sports betting handle in Pennsylvania saw a 19.4% increase to $591.9 million. The figures increased year-on-year from the $495.6 million recorded in May last year.
Revenue was also up 7.6% to $44.2 million. While online wagering contributed $41.6 million, retail betting accounted for $2.6 million.
Valley Forge Casino Resort, partnered with FanDuel, dominated the Pennsylvanian sports betting market in May with $22.8 million in revenue.
In partnership with DraftKings, Hollywood Casino at the Meadows was in second place with $11 million in revenue. Its sister casino at Penn National, which collaborates with ESPN Bet, came in third with $2.2 million in revenue.
Regarding other sources of gambling revenue in the state, video game terminals saw a 3.0% increase to $3.7 million in the month. Fantasy sports, however, saw a 5.2% decline to $1.2 million.
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