The Pennsylvania gaming market is entering 2024 following record results last year.
According to data released by the Pennsylvania Gaming Control Board, the Keystone State saw its online and retail sportsbooks collect $7.68 billion in wagers in FY2023 — a 5.9% increase compared to the year prior. Pennsylvania, which authorized sports wagering in 2018, is home to 12 betting operators that have wagering licenses issued with retail casinos throughout the state.
The Pennsylvania betting market posted growth behind favorable results in December 2023 following a record $829 million handle the month prior.
The state’s group of operators was led by FanDuel, which partners with Valley Forge Casino for sports wagering operations in the Keystone State. FanDuel generated $39.1 million in gross gaming revenue in December 2023 behind a $394.3 million handle. The results were an increase from FanDuel’s $290.3 million handle and $26.6 million in revenue in December 2022.
DraftKings, a partner of Hollywood Casino at the Meadows, reported the second-highest handle in December 2023 with $235.7 million in wagers collected — up from $191.6 million for the same period the year prior. The sports betting and fantasy operator saw gross gaming revenue close at $19.2 million in December 2023 compared to $14.3 million in December 2022.
PENN Entertainment saw its sportsbook ESPN Bet close December 2023 with a $82.5 million handle, making the Barstool Sportsbook rebrand the third-ranked operator in Pennsylvania in terms of handle. In comparison, Barstool posted a $49.3 million handle in December 2022. ESPN Bet, which partners with Hollywood Casino at Penn National Race Course, went live with wagering in November 2023 after its parent company PENN agreed to a long-term deal with ESPN worth $1.5 billion in cash. ESPN Bet dished out $8 million in promotional credits last December during its first full month as an operational sportsbook. In December 2022, Barstool promo credits were $890,000.
ESPN Bet has emerged as the Keystone State’s flagship sportsbook with PENN’s headquarters located in Wyomissing, Pennsylvania.
Hollywood Casino Morgantown partner BetMGM finished December 2023 as the fourth-most popular sportsbook amongst Pennsylvania bettors with a $52 million handle generating $3.6 million in gross revenue. BetMGM took a step back in wagers collected in 2023 as the operator reported a $59.3 million handle in December 2022 but only $1.4 million in revenue.
Caesars Sportsbook, which is partnered with Harrah’s Philadelphia, rounded out the top five with a $40.9 million handle and $1.3 million in gross revenue last December. In comparison, Caesars reported a $31.5 million handle with $1.1 million in gross revenue in December 2022.
Pennsylvania has also emerged as a top online casino market.
The state’s online casino operators are grouped on a single wagering license but collectively posted a $6 billion handle in December 2023. The results were spearheaded by PENN Entertainment, which saw its interactive slots and tables collect $2.5 billion in wagers.
Together, Pennsylvania online casino operators generated a record $162.7 million in gross revenue in December 2023 — up from $131.9 million in December 2022.
