Revenue from Pennsylvania’s online casinos is on pace to exceed $1 billion in its second full year of operations, data from the Pennsylvania Gaming Control Board (PGCB) show.
The vertical stood at about $981.5 million in cumulative revenue through November, according to the PGCB. Over the course of the year, PA online casino revenue touched $100 million just once, in October, and was more than $90 million for five months of the year, including November.
Online casino revenue was $91.1 million in November, down 8.9% from October. Year-to-year, the vertical was up 58.9%, from $57.4 million.
The operators on the license for Hollywood Casino at Penn National Race Course — BetMGM Casino PA, DraftKings, and Barstool — continued to dominate the vertical, grossing $37.2 million and holding about 41% of the market. Revenue was down 7.8% month-to-month, from $40.3 million.
Partners on the Rivers-Philadelphia casino license — Borgata Casino PA, BetRivers Casino PA, and SugarHouse Casino — also declined 7.8% month-to-month. Borgata made $24.1 million in November, down from $26.2 million in October, and held 26.5% of the market, up from 26%.
Valley Forge Casino and its online partners — FanDuel Casino and Stardust iCasino — took third place in the vertical after grossing $16.4 million, down 12.2% from October ($18.8 million). Valley Forge dropped one percentage point in terms of market share, falling to 18% in November.
PGCB data show the seven smallest online casino operators in the state collectively grossed $13.4 million in November, enough to comprise 14.6% of the market. Both were down slightly from October when the group collectively made $14.8 million in revenue and held 14.8% of the market.
Online Sportsbooks Hit Record Revenue
November was a record month in terms of revenue for online sportsbooks, hitting $76.3 million. The vertical more than doubled from October in terms of revenue ($37.6 million) and easily beat the previous record of $45.3 million set back in January 2021. Online sports betting was up 80.2% year-to-year ($42.3 million).
FanDuel Sportsbook — through its market access on the Valley Forge license — was the top book in terms of revenue after grossing $37.1 million in November. Revenue was up 91.7% month-to-month ($19.3 million) and 86.1% year-to-year ($19.9 million), but FanDuel’s market share slipped to 48.5%, down from 51.5% in October.
In second place was the recently rebranded Hollywood Casino at The Meadows grossed $15.8 million, up 64.8% from October ($9.6 million). Barstool operates a retail sportsbook for The Meadows while DraftKings offers the casino’s online sportsbook.
Hollywood Casino at Penn National — which uses Barstool Sportsbook for online bets — generated $8 million in revenue in November. That figure is 66 times larger than the $119k the operator grossed in October. The property was up 74.2% year-to-year, from $4.9 million.
BetMGM Sportsbook PA — which operates through the license for Hollywood Casino Morgantown — had $5.7 million in revenue in November, up 32% from October ($4.3 million).
PGCB data show the nine remaining online sportsbooks active in the Keystone State had a combined $9.8 million in revenue in November and held a 12.8% market share.
WSOP Gains Market Share
Revenue from the state’s online poker rooms fell 3.5% to $2.8 million in November, down from $2.9 million.
Although November was the fourth consecutive month where revenue declined, it was also the fourth-highest month in terms of revenue this year. Year-to-year, the vertical was up 14.3% from the $2.4 million generated in November 2020, when PokerStars PA was the only game in town.
November is also traditionally one of the slowest months of the year for poker, with action typically picking up speed in December and peaking in January.
Looking at data from November and the four months preceding, a pattern appears to be emerging where WSOP PA is gaining market share at the expense of BetMGM Poker PA, which is on the Hollywood Casino at Penn National license.
WSOP grossed $649k in November and was the only poker operator with increased revenue, up 10.4% from October ($587k). That helped WSOP grab 23.5% of the market in November, up about three percentage points month-to-month.
By comparison, BetMGM grossed $233k in revenue in November, down 23.2% from October ($303k). It held about 8.5% of the market, down nearly two points.
PokerStars PA — which operates under the Mount Airy Casino Resort license — maintained its lead in the vertical in terms of revenue and market share despite drops in both in November. The operator had $1.8 million in revenue, down 3.6% month-to-month ($1.9 million). Its market share was flat at about 65%.
The smallest poker operator, Borgata — which operates on the Rivers-Philadelphia license — grossed $85k, a 21.2% decline from October ($108k).