Pennsylvania’s gaming revenue jumps 8.9% to nearly $470M in July 2023
Pennsylvania, a state in the Great Lakes region of the North-eastern US, has reported a considerable growth in its gross gaming revenue (GGR) that amounted to nearly $470 million last month. Continuing to thrive, the gaming industry of Pennsylvania grew at a rate of 8.9 per cent to settle at $467 million in July 2023. According to the Pennsylvania Gaming Control Board (PGCB), the July GGR was particularly boosted by iGaming (online gaming). Online slots generated a revenue of $94.8 million, up 32 per cent year-over-year surge, while interactive table games won $35.4 million, up 48 per cent year-over-year.
Oddsmakers also performed quite well. Sportsbooks in the state earned $32 million out of the total amount of $338.4 million that was wagered by sports betting enthusiasts last year. The figure represents a jump of 26 per cent year-over-year.
In fact, earnings from the online gaming and sports betting offset losses incurred at the Keystone State’s 17 brick-&-mortar casinos. Retail slots in the state won nearly $214.7 million. The figure is almost the same as that of the corresponding month of 2022, but table game jumped 4 per cent to $83.4 million.
Video gaming terminals at truck stops earned $3.3 million, down 7 per cent year-over-year. Online poker rake and fantasy sports revenues also slipped, as interactive poker charges amounted to $2.6 million, down 4.5 per cent from the corresponding month of last year. Fantasy sports earned $655,000, which represents a decline of 24 per cent.
Through the first seven months of this year (January through July), the Keystone State’s gaming industry won more than $3.365 billion from gaming enthusiasts. This figure represents an increase of around 11 per cent from where the state’s gaming stood at this time in 2022.
Fresh off a record year in which the state’s total GGR exceeded $5.2 billion, the gaming industry seems to be all set to further grow in terms of revenue this year. In simple words, 2023 is shaping up to be yet another record gaming revenue year.
The growth in gaming industry is being experienced across the U.S. The American Gaming Association (AGA), which is the industry’s primary trade group, recently reported that commercial casinos won more than $16 billion during the second quarter (Q20 of this year. The trade group went on to predict that the commercial market is on pace for its third annual revenue growth record this year.