PGCB Reports Gaming Boom for FY2024
The Pennsylvania Gaming Control Board (PGCB) has released its report for the fiscal year 2024, revealing an increase in revenue across various sectors.
iGaming revenue increased by 27% year-over-year to reach $1.9 billion.
LISTEN TO THIS ARTICLE:The state recorded $5.89 billion in legalized gaming revenue during the year, up by 6.8%. According to the Board, legalized gaming throughout the state generated $2.54 billion in tax revenue.
The revenue stream came from various gaming activities, including casino slots, table games, internet gaming, sports wagering, fantasy contests, and video gaming terminals, all regulated by the PGCB.
The casinos in the jurisdiction reported a combined revenue of $3.4 billion from slot machines and table games for the 2023-2024 fiscal year. The iGaming industry also experienced a significant surge, with revenue growing 27% year-over-year to reach $1.9 billion.
During the year, the iGaming market expanded with six new sites, bringing the total number of Pennsylvania online casinos to 22.
Pennsylvania sportsbooks handled $8.1 billion in wagers during the year, resulting in an annual revenue of $486 million.
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PGCB’s Efforts in Review
In the latest report, the PGCB also highlighted the agency’s efforts to regulate the gaming industry within the Commonwealth. Over the past year, the Board received and authorized 20 consent agreements negotiated by its Office of Enforcement (OEC). It also issued more than $0.7 million in civil penalties and fines.
The state’s Office of Compulsive and Problem Gambling (OCPG) implemented various initiatives throughout the year to increase awareness of problem gaming and promote responsible gaming practices.
Some initiatives included distributing valuable resources on gambling disorder support and directing individuals to toll-free helplines for treatment options.
The PGCB oversees and regulates a portfolio of gaming operations, including 17 land-based casinos, 18 retail sportsbooks, 12 online sports wagering platforms, 22 online gaming sites, 74 truck-stop VGT establishments, and nine online fantasy sports contest sites.
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