Although iGaming and sports betting again set revenue highs

Pennsylvania gaming revenue falls 2.68 percent in November

The new addition to this report is Live! Casino Pittsburgh which began generating slot machine, table games and sports wagering revenue from its Westmoreland County facility on November 14th.
2020-12-18
Reading time 3:16 min
Total revenue generated from gaming and fantasy contests in the Commonwealth during November 2020 was $284,267,329 which represents a decrease of 2.68% compared to revenue generated in November 2019. Online and retail sportsbooks reached $491.9 million and November's wagers were up 35.7% from $316.5 million in November 2019, but fell short of the $525.8 million record set in October.

Figures released on Thursday by the Pennsylvania Gaming Control Board show total revenue generated from gaming and fantasy contests in the Commonwealth during November 2020 was $284,267,329 which represents a decrease of 2.68% compared to revenue generated in November 2019.

Sources of gaming revenue regulated by the Gaming Control Board include slot machines, table games, internet gaming, sports wagering, fantasy contests and video gaming terminals (VGTs). The Board has posted separate reports for these types of gaming on its website.

"So much has worked in favor of Pennsylvania's online sportsbooks this fall, but a lack of NBA, NHL, and college basketball games, along with the struggles of Penn State, an Eagles bye week, and a Steelers game postponed to December, conspired to slow bettors in November," said Dustin Gouker, lead analyst at PlayPennsylvania.com. "With record revenue and the second-best handle in state history, it was still a great month for the industry. And I suspect that Pennsylvania will be back to setting record handles again in December."

The following chart compiles all revenue generated in November 2020 by casinos along with fantasy contests and video gaming terminals operated by other vendors, and includes a comparison to total revenue generated last November.

The new addition to this report is Live! Casino Pittsburgh which began generating slot machine, table games and sports wagering revenue from its Westmoreland County facility on November 14th.

Total tax revenue generated collectively through all forms of gaming and fantasy contests was $115,599,645* during November 2020.

November’s gross revenue from slot machines was $129,530,805, a 31.59% decrease in revenue when compared to the $189,333,840 generated in November 2019. The number of slot machines in operation on November 30, 2020 was 16,957 compared to 24,125 at the casinos on November 30, 2019. 

Table games revenue for November 2020 was $52,336,318, a decrease of 29.98% from November of last year when revenue was $74,739,560.

Casino games offered online generated gross revenue of $59,775,505 during November 2020 compared to $9,655,811 in November 2019. The previous high revenue month for Internet Casino-Type gaming was in October 2020. Tax revenue generated from internet gaming play during November was $24,523,098.

"November's results show that each state is different in what are unprecedented times, and the relatively high win rate by sportsbooks may have dissuaded some bettors," said Valerie Cross, analyst at PlayPennsylvania.com. "Ultimately, though, record revenues are particularly important for the industry and for the state, which is relying on online gaming revenue more than ever."

Sports Betting Revenue

November 2020 total sports wagering handle was $491,910,713 or 6.45% lower than October 2020 total of $525,802,524. At the same time, the taxable revenue figure for November 2020 was $37,350,246 or 1.56% higher than October taxable revenue of $36,776,926 which had been the previous high for a month.

November 2020 sports wagering total handle and revenue is as follows:

1 Operated by Parx Casino
2 Operated by Mohegan Sun Pocono
3 A breakout of the handle between retail and online sportsbooks can be found on the website report.
4 Retail sports wagering closed due to Covid-19 restrictions implemented by the City of Philadelphia on November 20th

Sports wagering revenue for each of the casinos for this year and for last year if applicable, is as follows:

1 Operated by Parx Casino
2 Operated by Mohegan Sun Pocono
3 Retail sportsbook no longer in operation
4 Retail sports wagering closed due to Covid-19 restrictions implemented by the City of Philadelphia on November 20th

Tax revenue generated from sports wagering during November was $13,446,089.

"The Barstool app has been successful in shaking up the market, becoming the first online operator to legitimately challenge the stranglehold that FanDuel and DraftKings have had on Pennsylvania's market," Gouker said. "What the Penn National/Barstool partnership has done has not only altered the Keystone State, but it has served notice in other jurisdictions that it is indeed a force to be reckoned with."

Total adjusted revenue for November for video gaming terminals (VGTs) was $2,259,393. By the close of November, four VGT Terminal Operators were operating the maximum permitted five machines at 39 truck stop establishments.

Fantasy Contests revenue was $3,015,062 in November 2020, an increase of 1.14% over November of last year when revenue was $2,981,157.

"Online casinos have become one of Pennsylvania's most reliable revenue streams," Cross said. "As winter takes hold and retail casinos closed, the best months for online casinos are almost assuredly yet to come."

Leave your comment
Subscribe to our newsletter
Enter your email to receive the latest news
By entering your email address, you agree to Yogonet's Condiciones de uso and Privacy Policies. You understand Yogonet may use your address to send updates and marketing emails. Use the Unsubscribe link in those emails to opt out at any time.
Unsubscribe
EVENTS CALENDAR