Pennsylvania July gaming revenue rises 7, reaching $500.8m
Pennsylvania gaming revenue surged for July, driven by iGaming and sports wagering.
The Pennsylvania Gaming Control Board (PGCB) has reported total gaming revenue for July 2024 of $500.8m, marking a 7.22% increase year-on-year.
The revenue encompasses various forms of regulated gaming, including slot machines, table games, internet gaming (iGaming), sports wagering, video gaming terminals (VGTs) and fantasy contests.
Slot machines, traditionally the largest contributor to Pennsylvania’s gaming revenue, generated $204.3m in July 2024. However, this figure represents a 4.83% decrease.
The decline coincided with a reduction in the number of slot machines in operation, which dropped from 25,291 in July 2023 to 24,709 in July 2024. Despite this, slot machine tax revenue remained substantial, totalling $103.2m.
Retail table games also saw a decrease in revenue, dropping 4.84% to $79.4m. The tax revenue from table games amounted to $13.1m.
By contrast, iGaming continued its strong performance, with July 2024 revenue totalling $174.3m, a significant 31.20% increase. The growth in iGaming was accompanied by $75.5m in tax revenue.
Sports wagering also experienced growth, with the total handle reaching $414.7m in July 2024, a 22.52% increase. The taxable revenue from sports wagering was $38.6m, up 20.18%. This resulted in $13.9m in tax revenue.
VGTs, which are operated at qualified truck stops, generated $3.5m in July 2024, reflecting a 4.33% increase. The tax revenue from VGTs totalled $1.8m.
Fantasy contests also saw an increase, with July 2024 revenue reaching $714,971, a 9.01% rise. The tax revenue from fantasy contests was $107,246.
These figures follow the Pennsylvania gaming industry’s record-breaking $5.7bn in total revenue reported for the entire year of 2023. The increase in iGaming and sports wagering reportedly continues to drive the market, compensating for the declines observed in traditional retail gaming segments like slots and table games.
These trends (land-based casino falling year-on-year and iGaming, Sports betting going up) closely match those of neighbouring New Jersey.
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