PA Online Casino Revenue Smashes Records in 2022-23 – Crossing Broad

The PA Online Casino industry raked in $5.51 billion in revenue for the 2022-23 fiscal year, up 9.3 percent from the record of $5.04 billion set last year. These numbers were reported by the Pennsylvania Gaming Control Board in July, the start of the new fiscal year.

Before we dig further into the revenue numbers, pounce on any of the following PA Online Casino Bonus codes Crossing Broads currently offering, including the Betway PA Casino Bonus currently resulting in a rewarding $1,000 Deposit Bonus:

As far as the news topic at hand is concerned, Pennsylvania has done well in the retail and online casino field. In addition to large and small casinos across the commonwealth, there has been an explosion of online casinos since 2018which has brought in more players and money to the industry.

Online casinos experienced the most growth over the past fiscal year. Revenue for the iGaming players rose 24.4 percent to $1.53 billion. This includes money made off slots, table games, and poker. (PA Casino Bonus Codes have a lot to do with this growth.)

The PGCB report did not offer specific numbers for each category. It is a major indicator that the investments and work put into this sector have paid off significantly. It also likely means expect MORE online casino ads on digital and television platforms (hey, some of them are pretty good).

The sportsbooks also had a strong year with a record $492.0 million in revenue. The state did not give a total for the handle in the fiscal year. Yeah, I guess the books made a lot of money off the Philadelphia Phillies, Philadelphia Eagles, and Philadelphia Union losing their respective championships. (Womp, womp.)

At physical locations, the big winner over the past fiscal year were the slots. We see them taking up more floor space with every new casino and redesign.

This is for a good reason: They make casinos money.

In the past fiscal year, slots brought $2.45 billion in revenue, up 1.7 percent from last year. This was the second-best year for slots, just missing the $2.48 billion from 2011-12. Amazingly, slots accounted for over 44 percent of casino revenue last year.

While slot revenue increased, table games dropped in 2022-23. They brought in $974.0 million for the year, down 4.1 percent.

Video game terminals were up 1.3 percent to $42.1 million. Fantasy sports revenue dropped 24.3 percent to $20.7 million.

Shout-out to those still grinding away in the daily events trying to build lineups.

Since online sports betting became more legally available in 2018, it has been really interesting to see two DFS companiesDraftKings and FanDuelpivot from their starting business to challenge and even overtake some of the biggest legacy brands in the gaming industry, beating them at their own game with technology and converting customers.

If you told folks after Super Bowl 52 that Christie/Murphy v. USwould create a whole new market that defied conventional expectations (Nevada used to be fairly split between online and in-person sports betting), not many would have considered that plausible.

FanDuel continues to dominate in the Keystone State, as they have for years, on the sports betting scene. FanDuel PA Casino led the market with $255.5 million in revenue, partnering with Valley Forge Casino.

However, there is a new name that finished second for the fiscal year.

Barstool PA Casino did over $130 million in combined revenue for their two Hollywood Casino skins.

This seems to be a major victory for Penn Gaming, who finished their acquisition of the controversial media brand earlier this year. Barstool figurehead Dave Portnoy has acknowledged that the ownership of a major gaming company has affected operations, notably in the termination of an employee who made an unintentional racial slur in a live stream.

The employee was later rehired as part of one of Portnoys new business ventures.

Hollywood Casino at Penn National led the market in iGaming, with $648.2 million in total revenue over the fiscal year. Rivers Casino Philadelphia finished second with $330.9 million, followed by Valley Forge Casino at $309.3 million.

Between the sportsbooks and the iGaming, Hollywood was the big winner in the field for the year, with over $778 million in total revenue, while Valley Forge came in second in combined revenue at $564.8 million.

There are a lot of options for Pennsylvania online casino players and it can be difficult to figure out which has the best options. We have done a lot of research, and our pages offer the most updated information on new-player offers, bonuses, and casino offerings.

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PA Online Casino Revenue Smashes Records in 2022-23 - Crossing Broad