‘Sports Betting & Casinos in Pennslyvania Net USD 1 Billion in Q1 2021 – the home of Evolution’s US live dealer games!’ (Image by David Mark from Pixabay)
The results are out for the Keystone State, and they are impressive as Pennsylvania reports a staggering revenue of just over $1 Billion from its Q1 2021 land-based casino, sports betting and iGaming arms!
Combined, January and February pulled together a cool, calm, and collective $600 million across all gambling sectors while it was a record-breaking March that propelled the state over the $1 billion line!
As casino players and sports betting fans alike embraced a new lease of freedom as land-based casinos and bookies reopened, together they helped to conjure up over $400 million in expenditures on gambling activities – $403.1 million to be precise!
It is a rampant 162% improvement compared to last year’s March 2020 results spurred on by the revival of the brick and mortar gambling industry which came largely thanks to the US vaccination program stepping up a gear into full throttle! Also, online iGaming and sports betting markets have continued to grow over the past 12 months with the introduction of 6 new online casinos joining 3 already in operation since January 2020.
The most successful of those iGaming establishments during the month of March were state superstars Penn National (DraftKings, Hollywood, BetMGM) and Rivers Philly (SugarHouse & BetRivers). Combined, these 2 giants in the making tallied up to $60.7 million via online slots as well as virtual and live table games. Meanwhile, the other 7 online casinos contributed $34.6 million, bringing the total iGaming revenue up to $95.3 million – a staggering 23.64% of March 2021’s reported $403.1 gambling income!
According to Pennsylvania Gaming Control Board (PGCB), the authority responsible for regulation controls and transparent financial reporting, the total tax revenue from the record-breaking March 2021 gambling activities in the state brought in a total of $166.8 million in taxes!
Online Casino & Sports Betting Revenues
Overall, March 2021 online casino and betting state-wide income rose to $95.3 million up from March 2020, which stood at $24.9 million back then!
- Online slots: Video slots were the key contributor totalling $1.8 billion in spin bets, which brought in a revenue of $66.4 million. For the state, slots created $22.6 million in tax! The overall rise in online slot revenue was 31.3% from February 2021!
- Online Table Games: Table games, which includes Evolution live dealer titles, reported $1.5 billion in total bets creating a revenue of $28.9 million, and it was a 16.9% jump from the previous month. That was another $4 million in state taxes. This is also great news for the likes of Evolution, whose live table games are a hit amongst Keystone State card sharks and roulette fanatics!
- Online Poker: Poker was the only iGaming vertical to drop, with figures showing a $2.4 million revenue status from March gaming.
Despite the reopening of land-based establishments in March 2021, iGaming in Pennsylvania reported a 25.6% spike on February’s reported $77.8 million figure!
Land-Based Betting Revenues
It was the impressive return of land-based casinos that spurred on the impressive 2021 Q1 revenue reports for the Keystone State, which was propped up by an amazing month 3 for the quarter.
- Slots: $199.3 million is the official March 2020 figure for land-based slots in PA. This number is down 12% in March 2019 but 128% up since March 2020. However, in the same month last year, casinos in the state were closed due to the pandemic.
- Table Games: For blackjack, roulette, poker, baccarat, and craps tables showed similar patterns to land-based slots. A year-on-year increase of 115.6% with a $71.3 million revenue versus March 2020’s $33.1 million takings while if we track back to March 2019 when table games recorded $82.5 million, and March 2020 is down 14%!
With online slots and table games now so prevalent in Pennsylvania, it may be that the above figures will continue to decline. We do not expect a huge drop-off and eventually, a plateau should come. However, it is hard to see an increase in land-based gaming revenue currently!
Is There Still Room For Continued Growth in the Keystone State?
Record revenue figures should not come as too much of a surprise as PA boasts the sixth largest population in the US (13 million), and it is one of the few states that allows the full combination of online casinos, poker, and sports betting plus land-based casinos and betting shops!
It is also home to one of the most diverse betting markets as it plays host to one of 4 live dealer studios in the country. The Pennsylvania based studio operated by the world-renowned Evolution has seen remarkable success and adds another dimension to online gambling in a sector that took $1.5 billion in wagers over March 2021 and created $28.9 million in revenue!
Yet, no one really predicted the Pennsylvania casino market would grow as quickly as it has! Whether the Q1 figures and the $100 million jump in revenue from February is a result of betting frenzies inspired by newfound freedom remains to be seen from future monthly and quarterly results!
Leave A Comment