Pennsylvania Gaming Control Board has disclosed the state’s gaming revenue figures for August, revealing that sports betting is the fastest growing vertical in terms of turnover.
For August, the combined total revenue from all forms of gambling, including fantasy sports, was $425.4m, up 4.2% year-over-year.
Sports betting leads Pennsylvania gaming’s growth
Moreover, the total tax revenue generated collectively through all forms of gaming and fantasy contests was $175.3m during August 2022.
Sports betting was the fastest growing vertical in Pennsylvania during August, with revenues growing 88.6% to $34.0m, compared to last year’s $18.0m. This also represents a significant jump from July’s figure of $25.4m.
August saw the return of popular sports divisions, which would almost certainly contribute to rising sports betting figures.
With the regular season of the NFL and college football getting underway in September, it is anticipated that the sports betting figures will continue to grow as 2022 reaches its crescendo.
Total sports wagering handle reached $363.0m, a 4.17% increase YoY.
Per operator, Valle Forge Casino Resort/FanDuel led the way, with a handle of $132.1m and total taxable revenue of $13.6m. FanDuel was followed by Hollywood Casino at the Meadows/DraftKings (Handle: $91.7m Revenue $9.1m), Hollywood Casino Morgantown/BetMGM (Handle: $39.3m Revenue $2.6m) and Hollywood Casino at Penn National/Barstool ($24.0m Revenue $1.8m).
Igaming also shows signs of strong growth
Elsewhere, total igaming revenue during August reached $107.2m, up 20.81% YoY, compared to last year’s total of $88.7m.
Slots represented the best performing igaming vertical, with $75.7m of revenue generated in the month. Table games reported $28.7m in revenues, whilst poker igaming recorded $2.7m of revenues.
Per operator, Hollywood Casino at Penn National took the top spot in igaming revenue, with $43.9m, up 44.1% YoY. It was followed by Rivers Casino Philadelphia ($26.8m), Valley Forge Casino Resort ($17.7m) and Mount Airy Casino Resort ($4.8m).