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Gambling in the USA

PlayPennsylvania.com: Sportsbooks generate $350 million in bets as momentum grows

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Pennsylvania

 

Keystone State’s momentum continues with record handle and revenue as more online casinos launch, according to PlayPennsylvania.com

A record-setting January pushed Pennsylvania’s online and retail sportsbooks past $100 million in lifetime revenue. But even with a strong start to the New Year, Pennsylvania still has much ground to gain to catch New Jersey and Nevada as the largest sports betting markets in the country, according to PlayPennsylvania.com.

“Pennsylvania’s momentum is growing, and January shows that the state’s sportsbooks can sustain it even as the NFL season winds down,” said Dustin Gouker, lead analyst for PlayPennsylvania.com. “Pennsylvania will likely remain the nation’s No. 3 market for the foreseeable future. But it is becoming clearer that it will one day challenge Nevada and New Jersey as the largest legal sports betting market in the U.S.”

Pennsylvania’s sportsbooks accepted a record $348.4 million in wagers in January, breaking the $342.6 million record set in December up dramatically from $32 million in January 2019, according to official data released Wednesday. $308.6 million, or 88.6%, of the state’s January handle came online.

January’s bets produced a record $31.6 million in gross revenue — up from $17.5 million in December. That produced $7.78 million in state taxes. With January’s gains, Pennsylvania’s sportsbooks have now generated $116.4 million in gross revenue since launching in November 2018.

Pennsylvania is still well behind New Jersey, which generated a handle of $540.1 million in January, and Nevada, which is expected to post a January handle of around $500 million. Pennsylvania’s $30.7 million handle for February’s Super Bowl was third behind Nevada ($154.7 million) and New Jersey ($54.2 million), another sign of the Keystone State’s current place in the sports betting pecking order.

“The opportunities for growth are abundant for Pennsylvania,” Gouker said. “Its population base is a huge advantage. Infrastructure issues have slowed the state’s development. But the industry is unquestionably getting past its growing pains.”

The gap between the top two online sportsbooks appears to be narrowing. FanDuel Sportsbook at Valley Forge Casino remains the market leader with $153.1 million January bets, down from $154.5 million in December. That yielded $8.1 million in taxable revenue, up from $7 million. But DraftKings at The Meadows grew to $58.7 million in January from $35.9 million in December. That produced $2.8 million in taxable revenue, up from $732,883.

DraftKings and FanDuel were followed by:

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  • Rivers Philadelphia ($28.4 million in handle, down from $30.6 million in December; $2.2 million taxable revenue, up from $1.1 million)
  • Rivers Pittsburgh ($25.8 million in handle, down from $28.3 million in; $1.7 million revenue, up from $1.3 million)
  • Parx Casino ($21.3 million handle, down from $25.5 million; $2 million revenue, up from $779,529)
  • Fox Bet at Mount Airy ($15.4 million handle, down from $16.4 million; $1.3 million revenue, up from $312,658 in revenue)
  • Unibet at Mohegan Sun Pocono ($4.8 million handle, down from $6.1 million; $126,879 revenue, up from -$31,744)
  • Presque Isle Downs ($1.2 million handle, up from $129,556; $44,717 revenue, up from $28,700)

The online market could soon get a shakeup. Penn National Gaming announced that it has acquired a significant stake in Barstool Sports and with it, a recognizable brand for its online casino and sportsbook that will presumably launch later this year.

“DraftKings has been aggressively marketing itself in Pennsylvania, and it is making some headway in its attempt to catch up with FanDuel. But it still has a long way to go,” Gouker said. “Meanwhile, the expected launch later this year of the Barstool-branded online casino and sportsbook will add intrigue to a market that has been predictably controlled by the two most recognizable brands in online sports betting.”

The retail market was led by Rivers Philadelphia’s $7.4 million handle, down from $7.7 million in December. That yielded $1.1 million in revenue, up from $590,177. Rivers Philadelphia was followed by:

  • Parx ($6.7 million handle, down from $7.5 million; $875,269 revenue, up from $572,416)
  • Rivers Pittsburgh ($6.7 million handle, down from $7.5 million; $791,877 revenue, up from $518,743)
  • South Philadelphia Race and Sportsbook ($3 million handle, down from $3.3 million; $501,515 revenue, up from $328,651)
  • Harrah’s Philadelphia ($3 million handle, even with December; $219,597 revenue, up from $123,799)
  • Valley Forge Casino ($2.9 million handle, down from $3.6 million; $391,012 revenue, up from $107,145)
  • Hollywood Casino at Penn National Race Course ($2.6 million handle, down from $3.2 million; $180,249 revenue, up from $112,277)
  • Presque Isle ($2.3 million handle, down from $3 million; $281,753 revenue, down from $217,870)
  • Mohegan ($1.9 million handle, down from $2.6 million; $137,702 revenue, down from $257,956)
  • Oaks Race and Sportsbook ($973,451 handle, down from $1.2 million; $97,394 revenue, down from $65,949)
  • Mount Airy ($732,813 handle, down from $814,931 handle; $81,793 revenue, up from $73,692 in revenue)

Online casinos continue growth

Online casino games and poker generated $14 million in January gross revenue, up from $10.6 million in December. That yielded $3.4 million in tax revenue for the state.

More importantly, the roster of online casinos grew to seven in January. FanDuel/Valley Forge Casino made a big splash with its debut on Jan. 24, generating $2.1 million during the remainder of the month. FanDuel was followed by the launch of BetAmerica less than a week later.

“The online casino market should get a real jolt from FanDuel’s entrance,” Gouker said. “Integrated within FanDuel’s market-leading sportsbook app, the FanDuel Casino is ideally positioned to leverage its success as a sportsbook into success as an online casino.”

More from January’s report:

  • Rivers-Philadelphia led the online casino market with $3.5 million in revenue on $146.4 million in wagers. Revenue was up from $3 million on $181.5 million in bets in January.
  • Mount Airy/PokerStars, the lone online poker operator in the state, generated $2.2 million in January. That is more than the $1.8 million New Jersey’s online poker room generated in January, but still shy of the all-jurisdiction record $3.4 million that New Jersey claimed in January 2014.
  • Poker helped fueled Mount Airy/PokerStars to $3.5 million in revenue, about the same as December.

For more information on the revenue generated by Pennsylvania sports betting, visit www.playpennsylvania.com/revenue.

Gambling in the USA

BMM INNOVATION GROUP SHOWCASES ITS SUPPORT FOR TRIBAL SOVEREIGNTY AT INDIAN GAMING CONFERENCE & EXPO MARCH 31 – APRIL 3 AT SAN DIEGO CONVENTION CENTER

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Company to sponsor, attend, and speak at the San Diego, California show.

BMM Innovation Group (“BMM,” “BIG Group,” or “BIG”), a technology conglomerate focused on product compliance testing, cybersecurity solutions, and virtual training for the global gaming industry, today announced its sponsorship and participation in the Indian Gaming Association’s (“IGA”) annual IGA Conference & Expo, March 31-April 3 at the San Diego Convention Center.

With over three decades of experience supporting Tribal gaming, BIG will be on-site as sponsors, speakers, and attendees to reinforce the Company’s steadfast commitment to Tribal sovereignty and self-regulation.

Proud Partners in Tribal Progress

The BIG Group’s Chairman, President, and Chief Executive Officer Martin Storm said, “BMM proudly partners with Tribal governments, Tribal casinos, and Tribal gaming equipment and technology suppliers to advance Tribal sovereignty, self-determination, and economic development. We are honored to continue supporting the growth and integrity of Tribal gaming through our trusted product compliance services, world-class training and virtual education, and our cybersecurity solutions to protect Tribal enterprises.”

BMM’s long-standing relationships with Tribal gaming suppliers and regulators are at the heart of its mission. As active members of IGA and other key Tribal organizations, BIG is committed to elevating Tribal voices and ensuring Tribal interests remain at the forefront of industry growth.

BIG Group Shares Thought Leadership on Conference Panels and Trainings

  • In addition to sponsoring and attending, the BIG Group’s expert thought leaders will speak and provide in-person training at the conference:
  • Tuesday, April 1 at 9 am: Innovation vs. Regulation: Keep Pace with Emerging Gaming Technologies – Sean Mason, Senior Director of Tribal Services
  • Tuesday, April 1 at 4 pm: Gaming and Cyber Risk Best Practices – Mitigate Risk and Sleep Better at Night – Heather Lee, Senior Director of Sales for BIG Cyber
  • Wednesday, April 2 at 9 am: Level III Commissioner Certification Training – Peter Nikiper, Director of Technical Compliance

Unmatched Expertise in Product Compliance and Certification

As a trusted testing laboratory for Tribal gaming jurisdictions across North America, BMM’s focus is fairness, integrity, and security in every gaming environment. IGA attendees are invited to connect with BMM experts to learn more about the Company’s comprehensive product compliance programs.

Education & Training for Long-Term Success

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BIG continues to empower Tribal gaming employees through exclusive education and training programs, including free access to RG24seven Virtual Training. These knowledge-sharing initiatives are designed to support responsible gaming, regulatory compliance, and the long-term sustainability of Tribal gaming operations.

Cybersecurity Solutions Tailored for Tribal Gaming

The BIG Group is focused on bolstering cybersecurity defenses for Tribal enterprises through its BIG Cyber services, which includes penetration testing, vulnerability assessments, PCI:DSS evaluations, and a host of managed security services featuring CYREBRO’s Security Operations Center, KnowBe4’s security awareness training, and Maxxsure’s risk management platform.

 

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Gambling in the USA

Bruce Smith Enterprise and The Cordish Companies Break Ground on New Live! Casino & Hotel in Petersburg, Virginia

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Bruce Smith Enterprise and The Cordish Companies Break Ground on New Live! Casino & Hotel in Petersburg, Virginia

 

Bruce Smith Enterprise and The Cordish Companies celebrated the groundbreaking of the new LIVE! CASINO & HOTEL VIRGINIA in Petersburg. The milestone officially commences construction on a transformative project that will generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs, and set a new standard for gaming, hotels, and entertainment in the Commonwealth. Live! Casino & Hotel Virginia is part of a larger $1.4 billion master plan by the partnership, scheduled to be developed in phases, that will bring a world-class mixed-use resort destination to Petersburg.

Executives from Bruce Smith Enterprise, The Cordish Companies, and Cordish Gaming were joined by Petersburg City Mayor Sam Parham and members of Petersburg City Council, Virginia State Senator Lashrecse Aird, Virginia State Delegate Kim Taylor, and many other business and community leaders at the project site in Petersburg. The development site, ideally located on Brasfield Parkway at the intersection of Wagner Road and Interstate I-95 just 20 miles south of Richmond, will provide easy access on and off the East Coast’s major north-south interstate.

“It has been a source of immense satisfaction and pride to partner in this incredible development. For far too long people have simply driven by the City of Petersburg, but today marks the beginning of a new era in which Petersburg will become a prime destination. This pivotal project will ignite tourism, create jobs, and ultimately deliver on the promise of greater opportunity and upward mobility for local families. As a champion of Petersburg and its residents, I am happily confident that this historic development will uplift, empower, and enrich this community for years to come,” said Bruce Smith, founder of Bruce Smith Enterprise.

Live! Casino & Hotel Virginia is slated to open in 2027. A temporary gaming facility will open by the end of 2025 to immediately begin creating an estimated 500 new jobs, vendor opportunities and economic benefits for the City. In its first 10 years, the project is expected to generate $2.8 billion in economic stimulus to the region; $504 million in tax revenues including $240 million to the City of Petersburg; $802 million in economic benefits during construction; $201 million in annual economic benefits each year after opening; and 7500 new jobs including 6100 during construction and 1400 new permanent jobs.

“Today marks a monumental day for The Cordish Companies as we expand our Live! brand into the Central Virginia region with the development of Live! Casino & Hotel Virginia. Our company is a national leader in successfully developing and managing large-scale urban revitalization projects across the country. Live! Casino & Hotel will be a transformative development that will bring a world-class gaming and entertainment experience to millions of visitors, create significant new jobs, and generate millions of dollars in economic benefits for the community that will provide a beneficial impact for generations. We look forward to making an immediate impact on the region with the construction of a temporary gaming facility that will be operational before the end of 2025, so that we can begin creating jobs, vendor opportunities and economic benefits for the City,” said Zed Smith, Chief Operating Officer for The Cordish Companies.

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Gambling in the USA

PENN Entertainment Launches Stand-alone Hollywood Casino App in New Jersey

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PENN Entertainment announced that its stand-alone Hollywood Casino app has launched in New Jersey. The new Hollywood Casino platform is available on Android, iOS, and desktop and can also be accessed via the ESPN BET app. Customers can login to Hollywood Casino using their ESPN BET credentials, allowing for a seamless experience across PENN’s online betting and casino platforms.

Ranked by Eilers & Krejcik as the #2 overall iCasino product in the US, Hollywood Casino offers a variety of online slots, table games, and live dealer content, including original titles from PENN Game Studios, the company’s in-house casino game development studio. Hollywood Casino also includes bespoke live dealer tables and exclusive games such as the recently launched Devils Blackjack, an original title leveraging PENN’s partnership with the New Jersey Devils.

“We’re thrilled to introduce our dedicated, casino-first experience to customers across New Jersey. Hollywood Casino delivers a best-in-class experience with an extensive game library, seamless gameplay, and exclusive content from our in-house studio. This launch builds on the strong momentum we’ve gained since introducing our enhanced standalone app in December,” said Aaron LaBerge, Chief Technology Officer of PENN Entertainment.

The stand-alone Hollywood Casino platform debuted in Pennsylvania last December and is also available in Michigan.

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