PA sportsbooks post $62M in GGR in February after Eagles Super Bowl loss

Bald eagle with its head bowed
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Pennsylvania sportsbooks posted strong February revenues, jumping from $21.1 million in gross gaming revenue in February 2022 to $62.2 million in revenue last month.

According to numbers from the Pennsylvania Gaming Control Board (PGCB), despite nearly identical handle year-over-year, revenue jumped massively, likely in large part to the Philadelphia Eagles losing to the Kansas City Chiefs in the Super Bowl. As SBC Americas noted previously, nearly $30 million of that revenue came from just the Super Bowl. Handle for the month was $599.5 million compared to $597 million in 2022, remaining relatively flat despite the hometown Eagles being in the Big Game.

Online casino revenue also grew substantially year-over-year, jumping from $102.4 million in February 2022 to $131.6 million in 2023, an uptick of 28.5%.

The top sports betting performers in the state remained FanDuel and DraftKings, with $235.1 million and $157.3 million in handle respectively. The two represent 65.5% of all handle in the state and, with $32.2 million and $14.2 million in GGR, they represent 74.6% of all revenue for the month. With nearly $8.8 million in promotional credit, FanDuel was also responsible for 46.2% of all promotional credit in the state.

In terms of handle, BetMGM ($43.3 million), Barstool ($33.3 million), and Caesars ($30 million) rounded out the top five.

While state hold was 10.4%, FanDuel continued to pace about that rate with 13.7%. BetParx Sportsbook, which generated $2.1 million in GGR on $14.7 million in handle managed to perform even better, with hold of 14.3%. The two Rush Street brand, BetRivers and PlaySugarhouse, combined for $34.1 million. That left around $66 million in handle spread around the remaining seven online brands and 12 retail sportsbooks.