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NEWS 17 May 2019

Pennsylvania sports betting revenue drops 23.5% for April

By Matthew Enderby

Pennsylvania sportsbooks saw declining results in April, dropping 23.5% from March’s figures to total state revenue at $4.2m.

The drop was not a surprise as March Madness boosted the previous month’s figures, but shows there is room for improvement once sports betting is allowed online in the state.

Regulators are expected to approve the first online sportsbooks within weeks.

Total sports betting handle for the state’s operators was $36.7m.

Rivers Casino’s sportsbook took $8.2m of the total state handle, making $871,753 in revenue. This represents a 35.2% drop in results from March.

SugarHouse Casino took the second highest portion of the handle, $7.9m with revenue of $781,163, a 36% decline.

Parx Casino generated the most in revenue in Pennsylvania for April, $907,928. This represents a 7.8% fall and $6.8m of the state’s handle.

Valley Forge Race and Sportsbook was the only operator to escape a drop in revenue, it increased 62% to $195,858 and took $1.5m of total state handle. Results are skewed however, as both Valley Forge properties only opened their sportsbooks mid-March.

The state took more than any of its operators this month, making $1.5m from its 34% tax of adjusted gross revenue. Local areas collected $84,430 from their 2% share of adjusted gross revenue.

RELATED TAGS: Land-Based | Financial | Sports Betting
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