Pennsylvania gaming revenue declines 4.3% year-on-year in February 2025

Key points:  

– Pennsylvania’s total gaming revenue for February 2025 fell 4.3% year-on-year to $477.2m

– iGaming revenue increased 12.3% to $207.6m, while retail slot and table game revenue declined 8.1% and 7.2%, respectively

– Sports wagering handle grew 14.4% to $756.9m, but taxable revenue plummeted 75.3% to $7.5m

The Pennsylvania Gaming Control Board (PGCB) reported total gaming revenue of $477.2m for February 2025, reflecting a 4.3% year-on-year decrease.

The decline was primarily driven by weaker performance in retail slot machines and table games, as well as a substantial drop in taxable sports wagering revenue.

Retail slot machine revenue declined 8.1% to $186.3m, while table game revenue fell 7.2% to $71.2m. These declines contributed to an overall contraction in traditional casino gaming, with fewer slot machines in operation compared to last year – 24,404 in February 2025 versus 24,886 in February 2024.

Conversely, iGaming continued its upward trajectory, generating $207.6m in revenue for the month, a 12.3% increase. Hollywood Casino at Penn National led the iGaming segment with $77.6m in revenue (up 0.5%), followed by Valley Forge Casino Resort ($56.6m, up 26.5%) and Rivers Casino Philadelphia ($34.2m, up 17%).

Sports Betting handle grows, but revenue plunges  

Pennsylvania’s sports betting market showed mixed results in February, with total handle increasing 14.4% to $756.9m. However, taxable sports wagering revenue declined significantly, plummeting 75.3% to $7.5m.

Valley Forge Casino Resort, home to FanDuel’s retail sportsbook, led the market with $13.7m in sports betting revenue from a handle of $284.5m. However, only six of Pennsylvania’s casinos turned a profit from sports betting in February, while 11 reported losses.

Industry analysts attributed the widespread revenue decline to a high number of winning bets placed by consumers, potentially influenced by the Philadelphia Eagles’ Super Bowl victory.

Despite the drop in taxable revenue, total sports betting activity remained robust. The year-to-date handle for 2025 is tracking ahead of 2024 levels, suggesting sustained interest in sports wagering despite fluctuations in operator margins.

Tax contributions and operator performance  

Gaming operators in Pennsylvania contributed $202.5m in state taxes during February 2025. This included $94.2m from retail slot machines, $91.8m from iGaming, $11.9m from table games and $2.7m from sports wagering.

Among individual casinos, Hollywood Casino at Penn National maintained its position as the top revenue-generating property in the state, earning $89.5m (down 2.9% year-on-year). Valley Forge Casino Resort followed with $81.4m, marking a 9.9% increase, while Rivers Casino Philadelphia ($51.2m, up 5%) narrowly outperformed Parx Casino ($49.9m, down 2.7%).

For retail slots, Parx Casino led with $28.9m in revenue (down 2.7%), followed by Wind Creek Bethlehem ($20.5m, down 15.3%) and Rivers Casino Pittsburgh ($20.4m, down 6.5%). The continued decline in retail casino revenue raises concerns about shifting consumer preferences, particularly as iGaming expands.

Comparison to January 2025 and market trends  

February’s decline followed a strong start to the year. In January 2025, Pennsylvania’s total gaming revenue reached $529.1m, up 10.9%, driven by a 44.2% increase in iGaming slot revenue. However, sports betting revenue in January had already shown signs of weakness, falling 26.4% to $51.5m.

The overall decline in February suggests that January’s growth may have been an anomaly, influenced by seasonal factors such as increased betting activity around the Super Bowl and strong post-holiday online gaming engagement.

Future outlook and market adjustments  

Looking ahead, Pennsylvania’s gaming market faces both opportunities and challenges. The iGaming sector remains a major growth driver, with online slot and table game revenue continuing to expand. However, the decline in retail casino performance and the volatility in sports wagering revenue highlight areas of concern for traditional gaming operators.

Industry analysts expect gaming operators to adjust their strategies, potentially increasing promotional efforts in sports betting while expanding their online gaming offerings. Regulatory oversight will also be a key factor, particularly as Pennsylvania looks to balance its land-based and digital gaming markets.

With total year-to-date gaming revenue approaching $1bn, Pennsylvania remains one of the largest regulated gaming markets in the US. However, as consumer preferences evolve and competition intensifies, operators will need to navigate shifting market dynamics to sustain long-term growth.