Pennsylvania online casinos continued to perform strongly into February and posted $129 million in revenue, as four operators posted either record or near-record revenue for the month.
Data from the Pennsylvania Gaming Control Board (PGCB) show online casinos in the Keystone State grossed $129 million in February, making it the third-best month for revenue since the market launched in July 2019.
It should be noted that February preceded the top and runner-up months for revenue, with a record $131.9 million realized in December 2022 and January 2023 bringing in $130.2 million.
The vertical was down 1% month-over-month, and 2.3% from the record set two months earlier. But online casinos were up 29.6% year-over-year ($99.5 million), illustrating the market’s sustained growth rate since the pandemic.
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Hollywood Expands Lead Over Rivals
Operators on the Hollywood Casino license peeled market share from, and stayed ahead of, their rivals on the Valley Forge and Rivers-Philadelphia casino licenses, according to PGCB.
Hollywood’s operators — Barstool, BetMGM Casino PA, DraftKings Casino PA, and Hollywood Casino PA — posted revenue of $56.1 million in February, up 2.6% month-over-month ($54.7 million) and 32.5% year-over-year ($42.4 million). It was the second-highest month for revenue for the group, trailing only December 2022 ($59.8 million).
Valley Forge, partnered with FanDuel Casino PA and Stardust Casino, was a distant second, but like Hollywood, it also had its second-highest month for revenue in February at $27.5 million. That marked a 7.5% decline from the month before ($29.7 million), but revenue was up 48.5% year-over-year ($18.5 million).
In third place were the operators on the Rivers license — BetRivers Casino PA, Borgata Casino PA, and SugarHouse Casino PA. The trio posted $26.2 million in revenue in February, down nearly 8% month-over-month ($28.4 million). It was Rivers’ worst mark for revenue since September 2022 ($26.1 million).
Revenue for Rivers hadn’t changed much in a year. PGCB data show its operators grossed $24.4 million in February 2022, up 7.2% from the year-ago month.
FanDuel has been the top online casino operator in Pennsylvania only once — it was able to lead the field with just $6 million in revenue and a 34.3% market share bn February 2020. Since then, FanDuel has led the Rivers group in terms of monthly revenue only twice —, but they were the most recent months, January and February 2023.
The operators on the Hollywood, Rivers, and Valley Forge licenses combined for 85.1% of the market in February, down from 86.6% in January and 87.3% in December 2022.
Caesars Casino Up 40% in February
Among the smaller operators, four saw revenue increase month-over-month, while two others fared worse in February.
Caesars Casino PA, which operates under the Harrah’s Philadelphia Casino and Racetrack license, had a record $4.5 million in revenue in February, up 40.3% from the month before ($3.2 million).
Parx Casino PA saw revenue increase nearly 15% to $4.5 million. In comparison, operators on the Mount Airy Casino Resort license — FOX Bet and PokerStars Casino PA — had $3.4 million in revenue in January, up 11.9% month-over-month ($3 million).
Betway and PlayLive! Casino — operators on the Live! Casino license — saw revenue increase 13.2% in February ($3.5 million). It was their second-best month for revenue, trailing only April 2022 ($3.6 million).
On the Mohegan Sun Pocono license, Mohegan Casino PA was down more than 25% in February ($1.7 million). Wind Creek Casino was also down, but not by as much — revenue dropped 7.5% month-over-month to hit $1.6 million.
