The Pennsylvania Gaming Control Board revealed that 2023 was a groundbreaking year for the state’s gambling industry, with a record-breaking $5.7 billion in combined revenue. This extraordinary figure represents a significant 9.3% increase compared to the previous year.

The surge in revenue can be attributed to various gaming segments, with iGaming leading the way with a remarkable 28% increase, contributing a substantial $1.74 billion to the overall figure. Slot machines also played a crucial role, generating $2.46 billion in revenue, making them the highest-grossing segment across the state.

Other contributors to the record-breaking revenue included table games, sports wagering, video gaming terminals, and fantasy contests. The Pennsylvania Gaming Control Board reported that monthly gaming revenue surpassed the $500 million mark for the first time since the legalization of gambling in 2006.

A notable example from the past year is the November results for sports betting, with Pennsylvania’s sports betting handle reaching a record-breaking $934.1 million, the first time it surpassed $900 million. The Keystone State’s tax coffers also benefited immensely, recording a record $2.34 billion in tax revenue, surpassing the 2022 figure of $2.12 billion.

In a detailed breakdown, the Pennsylvania Gaming Control Board provided insights into the revenue generated by individual casinos. The Rivers Casino in Pittsburgh emerged as a significant contributor, reporting over $267 million from slot machines, $87 million from table games, and $16 million from sports wagering.

Wind Creek Bethlehem stood out for its outstanding performance in table-game revenue at $241.2 million. Parx Casino in Bucks County secured second place with $202 million in table-game revenue. Parx Casino led the state in slot machine revenue, amassing $386.2 million, while Wind Creek closely followed with $285 million in slot revenue.

The iGaming sector saw significant growth for Wind Creek Bethlehem, boasting a 32% improvement and securing $22.5 million in revenue. This surge, however, was overshadowed by Hollywood Casino at Penn National, which dominated the iGaming scene with an impressive $712.4 million in revenue.

Despite the overall success, Wind Creek Bethlehem faced a setback in sports wagering, experiencing a decline of more than 60% to $719,299 from $1.8 million. Valley Forge Casino Resort in Montgomery County led in this category, reporting $233.5 million, an 11.2% increase.

As the state continues to reap the benefits of a thriving gambling industry, analysts speculate that Pennsylvania may soon challenge New Jersey for the top spot in the national gaming landscape.

By admin