Pennsylvania Gaming Industry Smashes Previous Record, Revenue Totals $3.8B

Posted on: July 19, 2021, 01:58h. 

Last updated on: July 19, 2021, 01:36h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

Pennsylvania gaming revenue totaled just shy of $3.875 billion in the 2020/21 fiscal year. It’s easily the highest yearly mark in the decade-long history of the state gaming industry with legal slot machines and table games.?

Pennsylvania gaming industry casino revenue
Pennsylvania casino guests are back and able to gamble without facemasks, so long as they’re vaccinated. Despite the pandemic, the Pennsylvania gaming industry reported record revenue in its latest fiscal year, online gaming and sports betting fueling the spark. (Image: AP)

According to data supplied today by the Pennsylvania Gaming Control Board, gross gaming revenue (GGR) from all verticals from July 1, 2020 through June 30, 2021 totaled $3,874,923,386. That’s 17 percent better than the state’s previous record of $3.3 billion, set during the 2018/19 fiscal year.

Along with the state’s 14 commercial land-based casinos, Pennsylvania is home to iGaming, with online slots and table games, in-person and mobile sports betting, daily fantasy sports, and video gaming terminals (VGTs) located inside truck stops. Outside of brick-and-mortar casinos and fantasy sports, the other gaming formats came by way of a 2017 expanded gaming package passed by Pennsylvania lawmakers and signed by Gov. Tom Wolf (D).?

Since 2018/2019, there has been significant growth in the nascent sports wagering and fantasy sports contests markets, along with the establishment of both the iGaming and VGT markets,” a PGCB statement explained. “Those four markets combined constituted almost 33 percent of the total revenue achieved in Fiscal Year 2020/2021.”

The 17 percent surge on the earlier all-time best GGR mark means state gaming entities won $565.1 million more from gamblers in ’20/21 than they did in ’18/19.?

Land Ops Struggle

COVID-19 led to reduced GGR at Pennsylvania’s brick-and-mortar casinos.?

The gaming board’s 2020/2021 fiscal year included regulatory layovers from the pandemic. Only this May were casinos permitted to return to 100 percent capacity. Face masks were required until June 28.?

The closures and operating restrictions resulted in slot machine revenue tumbling from $2.37 billion in 2018/19 to $1.88 billion in 2020/21. Table win declined from $885.5 million to $721.7 million.?The losses, however, were easily offset by iGaming and sports betting, the latter which is also primarily done online.?

Internet slot machines, table games, and poker fees totaled $897.2 million over the past 12 months. That’s a stunning $656.3 million jump from 2019/20. Sportsbooks also fared extraordinarily well, GGR coming in at $308.8 million, a $195.1 million year-over-year increase.?

Revenue from fantasy sports jumped from $20.8 million to $28.1 million, and VGT play skyrocketed from $6.8 million to $31.3 million.

June Finish

Along with the 2020/21 fiscal report, the PGCB today reported on June 2021 revenue.?

Statewide gaming revenue totaled $388.9 million, a 193 percent premium on June 2020. Last month’s GGR was also more than 43 percent better than June 2019 gaming generated revenue of $271.3 million.?

Last month, retail slots and tables kept $260.5 million of patrons’ bets. iGaming generated GGR of $89 million, sportsbooks won $34.4 million, and VGTs reported $3.3 million in revenue. Fantasy sports contests garnered approximately $1.9 million in fees.?