The Pennsylvania Gaming Control Board, PGCB, has reported a revenue of $233.1 million in online casinos for March this year, which is 2024. This is now the third time in the last 4 months that Pennsylvania has accounted for more than $200 million in revenue. Notably, the figure for March 2024 represents an increase of 28.4% year-on-year and 8.3% month-on-month.
That is the US-best and most noteworthy number, for it signifying a record-breaking feat for Pennsylvania. Revenue for February was $215 million. So, the number in March has increased by more than $18 million, demonstrating Pennsylvania’s commitment to driving revenue that ultimately benefits its people. This happens via tax collection and appropriate fund allocation.
Online slots earned the majority of the revenue, followed by table games and online poker. Revenue for these teams in March was $177.5 million, $53.1 million, and $2.5 million, respectively. Different casinos reported different numbers. This includes some of the best online casinos USA – Valley Forge, Hollywood Penn National, and Mount Airy, to mention a few. Hollywood Penn drove the highest numbers in the industry. Its revenue stood at $85,198,336, giving away $30,274,386 in taxes.
The lowest revenue was reported by Mohegan Sun Pocono at $1,254,747, leaving $579,871 in taxes.
Several online casinos did not disclose any poker results. This means that their revenue from the aforementioned category was $0. This comprises Valley Forge, Parx Casino, Golden Nugget PA, Bally’s State College, Live Philadelphia, Wind Creek, and Mohegan Sun Pocono.
Moving forward, Pennsylvania is looking to host amendments to the Pennsylvania Casino Smoking Bill. The vote is scheduled to take place next week. It was introduced in September of last year with the goal of closing the gap in the Clean Indoor Air Act of 2008. The bill essentially looks to ban smoking inside the casinos in Pennsylvania.
An increase in online gambling participants could have driven revenue in Pennsylvania. There was a slight increase of 5% in 2023, according to the Pennsylvania Interactive Gaming Assessment authored by Penn State University. There was an increase from 11.1% in 2022 to 16% in 2023, representing the number of adults who engage in online gambling in Pennsylvania.
While that brought an uptick in revenue, it also caused a surge in problem gambling numbers.
The current increase in revenue for Pennsylvania stands at $233.1 million. That is an 8.3% increase on a month-on-month basis. That has paved the way for another great month, probably making it the fourth time the state has seen revenue of more than $200 million. There is certainly an increase in participation. So, the groundwork looks solid for the state to go higher on the charts.
