Posted on: October 18, 2024, 09:42h.
Last updated on: October 18, 2024, 10:00h.
The Pennsylvania Gaming Control Board (PGCB) revealed in its September data report that brick-and-mortar casino play slowed year over year.
On Thursday, the PGCB reported that gross gaming revenue (GGR) generated by retail slot machines totaled just shy of $197 million, a 1.5% decline from September 2023. Table games kept $73.4 million of players’ bets, or about 2.3% lower.
Combined, in-person casino gambling revenue of $270.4 million represented a 1.7% decline, a $4.7 million loss from what the state’s 17 brick-and-mortar casinos won on their physical slots and tables a year ago.
The Pennsylvania gaming report follows New Jersey, which also showed an in-person revenue drop at the nine casinos in Atlantic City. September 2024 was considered a difficult comparable, as September 2023 had an extra Friday and Saturday, typically the two busiest days of the week for legacy casinos.
Online Bridges Gap
The roughly $4.7 million decline in casino revenue experienced last month was easily offset online where iGaming and mobile sports wagering thrived.
GGR from online slots and interactive table games — excluding poker rake — totaled $174.5 million. That marked an 11% year-over-year surge or an increase of about $17.4 million. Internet slots were primarily responsible for the increase.
Revenue from sports betting, which is primarily generated online through mobile wagering apps and website platforms, came in at $53.5 million, a 46% surge. The start of the NFL season largely went the oddsmakers’ way, which fueled sportsbook income.
Slot-like video gaming terminals (VGTs) inside diesel truck stops added around $3.4 million, a 3.6% bump, to the overall state gaming revenue picture.
Along with retail casinos, the other September losses were online poker rake at $2.2 million, a 7% drop, and fantasy sports fees at $1.9 million, a nearly 5% decline.
In all, the Pennsylvania gaming industry won $505.87 million from gamblers last month, a growth of 6.2%.
Parx Remains on Top
Parx Casino located about 20 minutes north of Philadelphia’s City Center in Bensalem is one of only two smoke-free casinos in Pennsylvania along with its satellite property Parx Casino Shippensburg.
Parx’s primary property has dominated the Pennsylvania gaming industry, the third-richest gaming state in the country behind Nevada and New Jersey, for years. The trend has continued in 2024, as players in the Philly metro seeking a clean indoor air environment patronize the tobacco-free gaming floor.
In September, Parx won $30.2 million on its slots to lead the 16 other brick-and-mortar properties. Wind Creek Bethlehem was a distant second at $24.2 million. On the felt, Parx ranked second at $15.5 million to Wind Creek at nearly $18 million.
As for iGaming, Penn Entertainment’s online operations continued to dominate the online market with GGR of $47.2 million. Penn operates iGaming in Pennsylvania through its online Hollywood Casino integration with the ESPN Bet internet sportsbook.
Boyd Gaming’s FanDuel iGaming operation, licensed through a partnership with Valley Forge Casino Resort, was next at $33.7 million.
As for sports gambling, Valley Forge’s FanDuel Sportsbook took the most bets and won the most money with total revenue of $27.3 million. More than $26.6 million came from the book’s online operations.
Hollywood’s ESPN Bet was second with combined retail and mobile revenue of $18.8 million.
Source link
