Pennsylvania's gambling revenue increased by 2.8% year-on-year in October, reaching $496.6 million, driven by near-record figures from the iGaming market. Despite this growth, total revenue fell 1.8% from September’s $505.9 million. While iGaming revenue soared to $189.1 million, marking a 22.1% YoY increase, the sports betting segment faced challenges with revenue declining 43.2% YoY, even as player spending rose. Key players like Hollywood Casino at Penn National Race Course and FanDuel remain dominant across their respective segments, highlighting Pennsylvania’s evolving gambling landscape.

iGaming Revenue Reaches $189.1 Million

Near-Record Performance
The iGaming sector emerged as the top-performing segment in October, with revenue rising 22.1% YoY to $189.1 million. This figure was just 1.1% shy of March’s all-time high of $191.1 million.

Breakdown of iGaming Revenue

Online Slots: Generated $140.9 million, up 28.3% YoY.
Internet Table Games: Revenue grew by 7.8% YoY to $45.9 million.
Online Poker: Declined by 5.9% YoY to $2.2 million.
Top Performers

Hollywood Casino at Penn National Race Course: Led the market with $69.5 million, up 11.6% YoY.
Valley Forge Casino: Secured second place, recording $51.9 million, a remarkable 46.6% increase YoY.
Rivers Casino Philadelphia: Ranked third with $33.3 million, up 13.5% YoY.

Sports Betting Revenue Slumps Despite Increased Player Spend

Revenue Decline
Sports betting revenue in October fell 43.2% YoY to $27.4 million, despite a 3.5% increase in the amount wagered, which totaled $858.1 million.

State-Wide Hold
The hold rate stood at a modest 3.19%, reflecting the percentage of wagers retained as revenue.

Leading Operators

FanDuel and Valley Forge Casino: Continued to dominate with $17.3 million in gross revenue from a $348.6 million handle, resulting in a 4.96% hold.
DraftKings and Hollywood Casino at the Meadows: Generated $5.9 million from a $225.0 million handle, with a 2.62% hold.
Caesars and Harrah’s: Reported $961,995 in revenue from $26.7 million, yielding a 3.61% hold.

Other Notable Performances in Sports Betting

Strong Contenders

Parx Casino and Kambi: Recorded $888,251 in revenue from $20.2 million, with a 4.39% hold.
BetMGM and Hollywood Casino Morgantown: Posted $721,914 from $63.8 million, with a notably low 1.13% hold.
FanDuel and Live! Casino Philadelphia: Achieved $567,904 in revenue from $7.0 million, reflecting an 8.23% hold, the highest among operators.
Emerging Players

BetRivers and Rivers Casino: Generated $511,669 from $14.5 million, with a 3.5% hold.
ESPN Bet and Hollywood Casino York: Reported $405,180 from $40.3 million, yielding a slim 1.01% hold.