Online Gambling Generates Record Year for PA Gaming Industry | New
HARRISBURG – Despite casinos shutting down for weeks due to pandemic restrictions, the state’s gaming industry has had a record-breaking 2020-21 year, fueled by online gambling, the Pennsylvania Gaming Control Board said on Monday. .
Pennsylvania broke its gambling revenue record, state regulators said on Monday, reporting nearly $ 3.9 billion in the last fiscal year as each betting category saw growth in one of the the nation’s largest casino and gambling states.
Pennsylvania casinos were closed from March to June in 2020 due to the COVID pandemic. They closed again in November as the fall COVID resurgence hit the state and did not reopen until early January.
Global gambling revenues increased from $ 3.3 billion in 2018-19, the previous all-time high to $ 2.7 billion in 2019-2020.
The nearly $ 3.9 billion in the last fiscal year from 14 operating casinos, fantasy sports operators and truck stops for the fiscal year ending June 30 surpassed the previous record of two years ago by about 17% and that of last year over 40, according to figures from the Pennsylvania Gaming Control Board.
Casino revenues from slots, at just under $ 1.9 billion, and table games, at $ 721 million, remain below record levels in previous years.
Other than 2019-2020, the last time state casinos generated less slot revenue than in 2020-2021 was in 2012-2013, when there were three fewer casinos. , according to data from the Gaming Control Board.
But other more recent categories have set new records.
Online casino games hit nearly $ 900 million in its second year alone, while premium sports hit $ 309 million in its third year alone. Pennsylvania legalized the two as part of an aggressive expansion of the game in 2017.
“There is no doubt that the rise of online gaming is a direct result of the pandemic restrictions on retail casinos, but there is strong evidence to suggest that growth has real lasting power. We have seen retail sales numbers rebound to near pre-pandemic levels in Pennsylvania, Atlantic City and elsewhere, ”said Valerie Cross, analyst for PlayPennsylvania.com, a website that tracks the gaming industry.
With the casinos reopening, analysts say there is no clear reason to believe online gambling will drop, Cross said.
“The revenues from online games have not missed a beat. This suggests a change in behavior among the players that is unlikely to change much, at least in the near future, ”she said.
Pennsylvania fell behind New Jersey in traditional casino gaming revenue in 2020, eight years after surpassing New Jersey to become the nation’s second-largest state in gaming revenue behind Nevada, according to figures compiled by the American Gaming Association.
“Betting volume typically drops over the summer, but sports betting tends to win more per bet on sports like golf and tennis,” said Dustin Gouker, senior analyst for the PlayUSA.com network, which includes PlayPennsylania.com.
“It really helped sports betting in June and will help them continue to resist the offseason even though punters are engaging less.”
Online and retail sports betting in Pennsylvania racked up $ 420.2 million in bets in June, down 6.1% from $ 447.5 million in May, official data showed on Monday. Gross revenues from sports betting games, however, jumped to $ 42.5 million, up 13.6% from $ 37.4 million in May.
John Finnerty is based in Harrisburg and covers government and state politics. Follow him on twitter @CNHIPA.