March Sets Record High for Pennsylvania Online Casino Revenue

Pennsylvania’s online casinos hit a record-breaking $145.3 million in March, led by the “Big Three” licensees.
Pennsylvania online casinos reaching new heights in March
By
April 25, 2023

Online casinos in Pennsylvania hit a record $145.3 million in March, as five of the state’s licensees — including the top three groups of operators — also saw record-breaking revenue.

According to the Pennsylvania Gaming Control Board (PGCB), the state’s 18 online casinos combined for $145.3 million in revenue in March, up 12.7% month-over-month ($129 million). The vertical was up 26.5% year-over-year ($114.9 million).

The pandemic is ancient history. Revenue was up nearly six-fold since March 2020, the opening month for pandemic-related restrictions in the US.

It was the first time online casinos hit a monthly record for revenue since December, when the vertical grossed $131.9 million. At the time, December was also the third consecutive month with record revenue — March snapped a two-month slide.

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Top Licensees Break Records

It was a record month for the best online casinos in PA. The Big Three combined for 85.5% of the market in March.

Hollywood Casino — the land-based casino licensee whose partner operators are Barstool, BetMGM Casino PA, DraftKings Casino PA, and Hollywood Casino PA — posted a record $61.9 million of revenue in March, up 10.3% from February ($56.1 million) and up 38.4% from March 2022 ($44.8 million).

Record monthly revenue at Valley Forge Casino, which is partnered with FanDuel Casino PA and Stardust Casino, helped the licensee keep its advantage over Rivers-Philadelphia casino for a third consecutive month. Valley Forge grossed $31.8 million in March, up 15.8% month-over-month ($27.5 million) and up 32.9% year-over-year ($23.9 million).

Rivers also had a record month with $30.4 million in revenue. The partners on the Rivers license — BetRivers Casino PA, Borgata Casino PA, and SugarHouse Casino PA — saw revenue increase 16.1% from February ($26.2 million) but it only ticked up 1% from the year-ago month ($30.1 million).

FanDuel has led the Rivers group since January, but before that it had not led them since February 2020, when it had just $6 million in revenue.

Smaller Operators Also Rolling

The state’s smaller online casinos also got into the record-breaking act.

Operators on the Live! Casino license, Betway and PlayLive! Casino, continued a two-month winning streak and made a record $4 million in March, up 15.3% from February ($3.5 million). The last record month for Live! was April 2022, when it made $3.6 million.

Wind Creek Casino also had record revenue in March. It made $2.1 million, up 30.1% from February ($1.6 million). The operator has seen steady growth since debuting in July 2020.

Caesars Casino PA, which operates under the Harrah’s Philadelphia Casino and Racetrack license, had its second-best month for revenue in March, grossing $4.3 million. That was down 4.9% from February, which was the operator’s record month for revenue at $4.5 million.

Last month, the PGCB approved an application by Bally Casino PA to become the state’s only Qualified Gaming Entity (QGE). Under the state’s gaming law, QGE’s are exempt from partnering with a land-based casino.

Bally Casino has not announced a launch date. When it does launch, it will become the state’s 19th online casino.

If you or someone you know has a gambling problem and wants help, call the Virginia Council on Problem Gambling (VACPG) helpline at 1-888-532-3500

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