Pennsylvania sports betting revenue soars 246% YoY in Feb.

The Pennsylvania Gaming Control Board reported Tuesday that the combined total revenue generated from all forms of gaming along with fantasy contests in February totaled nearly $302 million, which was less than a 1% decrease year-over-year.

February’s gross revenue from slot machines was $145,851,166, down 26.95%. The number of slot machines in operation was 18,806 compared to 24,122 at the casinos in February 2020. Online casino gaming generated gross revenue of $77,788,457, a growth of nearly 300%.

Park Casino in Bensalem Bucks County had the highest revenue in the state at $47 million, which was a 18.8% drop from the previous year. Slots revenue was $26.9 million and tables games was at $13.9 million. 

Video gaming terminals had total adjusted revenue of $2.5 million, according to the PGCB. The majority of that was from Marquee by Penn, owned by Penn National Gaming, which had gross revenue of $1.9 million.

The PGCB said tax revenue for February was $122.8 million.

Sports betting

Taxable revenue during February 2021 for sports wagering was $16.4 million, more than three times (246%) the amount of revenue generated in February of last year. Sportsbooks took $509.5 million in bets, up 54.5% year-over-year compared to $329.8 million last year, though down 17.2% from the January record of $615.3 million. Pennsylvania handle has surpassed $500 million in four out of the last five months, as reported by Play Pennsylvania.

Eight months into the 2020/2021 fiscal year, sports betting handle in Pennsylvania has eclipsed $3.6 billion according to figures released by the Pennsylvania Gaming Control Board. It has also already surpassed the total 2019/2020 fiscal year’s totals ($2.5 billion).

FanDuel Sportsbook once again led for handle with $176.3 million, accounting for 37.5% of all online bets. FanDuel also tops in revenue with $7.3 million, after taking back the top spot for revenue in January when it posted $14.3 million.