‘Evolution Reaps Rewards of Pennsylvania iGaming Revenue!!’ (image source: assets.gamingintelligence.com)
The iGaming market in Pennsylvania might well be a newbie to the US online casino market, but already it is reporting multi-million-dollar revenues which is great news for Evolution who opened their 9th live dealer studio (2nd in the US) live dealer studio in the state.
Overall gambling revenue in the state is down -11.21% on October’s $320 million (€261m/£237m million) gambling revenue with November recording a total of $284 million (€232m/£210m).
The slide in revenue connects directly to the land-based betting industry in the state. As we are seeing across the globe, the land-based casino niche is suffering as their public-facing brick-and-mortar establishments have no choice but to close shop to avoid the spread of Coronavirus.
While in October, the land-based casino industry took $218 million (€178m/£162m) in revenue, November figures recorded a much lower figure of $182 million (€148m/£134m).
As a result of casinos closing, and slower walk-in traffic when open, the land-based slot sector in Pennsylvania took a -16.5% hit. Table games took $52 million (€42m/£38m) million while land-based slots took $130 million (€106m/£96m) compared to last October’s $155 million (€127m/£115m) and $63 million (€51m/£47m) revenues which are down -16% and -17% from last month, respectively.
iGaming softens the blow for lower land-based revenues
In the iGaming and online sports betting sector where people place bets either via their mobile or online using their laptop or desktop, the revenue remains at $102 million (€83m/£75m) which was the same amount pulled in over the course of October. Although other reports state otherwise, the mathematics does not take a rocket scientist to figure out!
Without these online revenues from the recently opened online gaming market, the state would not be in pulling in the valuable tax dollars it usually relies upon through its land-based operations, and one of the tax-paying companies in the state spurring on growth within Pennsylvania’s iGaming sector is Evolution with its incredible selection of professional live dealer games.
Online casinos took in $57.4 million (€46.85/£42.44m) in revenue split between online slots and table games, while online sports betting recoded $31.2 million (€25.47/£23.07m) in revenue. Other revenue came from online fantasy sports and other online games totalling $13.4 million (€10.94/£9.91m).
Amazing table gaming figures!
In the table gaming sector where the Evolution live casino platform operates, $18 million (€14.69/£13.13m) in total revenue is on record for November. That is an amazing figure considering this niche is not even 3 months in the making within the state. Last month the internet table gaming industry figures were $17 million (€13.88/£12.57m), so this is a slight improvement of 6% in November.
Online slots revenue is solid!
Video slot games online are always ahead of table games in every market, and in Pennsylvania, the story is no different. Altogether, the collective total from all operators in the state was $39.4 million (€32.16/£29.13m) which is slightly down on last month’s $40.3 million (€32.89/£29.80m). Just a 2.2% decline in slots gaming in the state.
As the land-based betting and casino industry in the USA continues to decline, there is hope for states that have legalised online sports betting and/or online casinos. Furthermore, due to US laws demanding that casino and sports betting operators partner with land-based casinos in the states the brand’s want to offer online casino services, the land-based casinos are able to see out these tough times. For Evolution, this is a key market aside from the firm’s New jersey operations and the latest figures show that breaking into the Pennsylvania market was a good move!
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