Pennsylvania January: Sports betting revenue down 26.4% to $51.5m; iGaming shoots up

Key points: 

– All verticals, bar sports wagering and iPoker, reported year-on-year revenue growth 

– The highest-earning segment was retail slots, and the highest-earning operator was Valley Forge Casino Resort 

The Pennsylvania Gaming Control Board has reported the state’s financial results for gaming for January 2025. 

In total, revenue for the month came to $529.1m, up 10.9% year-on-year. By operator, the highest earner was Valley Forge Casino Resort at $97.8m, up 6.5% year-on-year, while by gaming segment, the highest earner was retail slots, making $187.8m, up 4.6%. 

Revenue by operator 

Following behind Valley Forge Casino Resort as the second-highest earner in Pennsylvania was Hollywood Casino at Penn National Race Course. Making $92.7m, it was also the operator to report the third-highest rate of year-on-year growth amongst its peers, up 50.3%. These two stood alone as the only two operators to report revenue of over $90m, as the third highest earner, Rivers Casino Philadelphia, made $51.2m, up 5.5%. 

In terms of growth, the biggest leap in year-on-year revenue was reported by Golden Nugget. With revenue up from $2.1m to $7.4m, it experienced growth of 251.7%; though it is worth noting the comparatively small numbers the operator was working with. The second-highest rate of growth came from Presque Isle Downs and Casino at 55.8%, making $9.3m.  

Revenue by segment – Retail slots 

Of the $187.8m made by retail slots, Parx Casino contributed the largest percentage, making $30m, up 6.6%. This was followed by Wind Creek Bethlehem at $21.3m, up 1.3%, and Rivers Casino Pittsburgh at $20.6m, also up 1.3%. 

Indeed, while most operators reported retail slot growth (only two, Valley Forge Casino Resort and Live! Casino Pittsburgh, reported a decline, both under 2.5%), this growth was relatively minimal, with only five operators reporting growth over 10%. 

The largest increase in revenue was reported by The Casino at Nemacolin at 17.2%, making $1.6m, followed by Parx Shippensburg at 14.7%, making $2.9m.  

Revenue by segment – iGaming 

Casino games offered online in Pennsylvania, which include online slots, tables and poker, made a total of $210.2m in January. Of this, online slots made $158.6m, up a sizeable 44.2%; more than any other gaming segment in the Keystone State.  

Earning the most in both slots and table games, and the second-highest in online poker, Hollywood Casino at Penn National Race Course reported the highest combined iGaming revenue in Pennsylvania in January, making $79.7m, up 57.9%. This was also the second-highest rate of year-on-year growth among operators, with Golden Nugget coming out in first with revenue up 251.7% – though its revenue only totalled $7.3m. 

Valley Forge Casino Resort was the second-highest earner. With $41.4m in slots and $16.2m in tables (the second highest in both sub-verticals), it generated a total of $57.6m, up 38.5%.  

The highest iPoker earner in January was Mount Airy Casino Resort, which made $1.4m. This accounted for 36% of the operators’ $3.8m total.

Revenue by segment – Sports betting  

Sports wagering revenue came to $51.5m, down 26.4% year-on-year. This was the most significant dip in revenue among the gaming verticals in the Keystone State, and one of only two segments to see decline – the other being iPoker, down 2.3% to $2.6m. 

Of this, $49.2m came from online sports betting, while the remaining $2.3m came from retail betting.  

By almost double, Valley Forge Casino Resort was the highest earner in this segment in January, making $28.8m. Despite this, this amount reflects a dip in revenue of 27.2%. The second-highest earner, Hollywood Casino at the Meadows, fared similarly, with revenue down 21.3% year-on-year to $15m. Indeed, the majority of sportsbook operators reported declines in year-on-year revenue, with only three operators, all of whom earned a combined total of under $1m, reporting year-on-year growth. 

Of the five operators to report over $1m in combined revenue, Parx Casino faced the sharpest decline, down 35.2% to $1.1m. On the opposite end of the spectrum, the smallest decline amongst the five was reported by Hollywood Casino Morgantown, down 3.7% to $3.4m.