Gambling in the USA
PlayPennsylvania.com: Sportsbooks cool with $500 million in February
Pennsylvania’s sportsbooks slowed in February but still surpassed $500 million in wagers for the third consecutive month, while online casinos tallied nearly $80 million in revenue in February. Though February brought largely good news to Pennsylvania, it was still the state’s lowest handle since November while online casino revenue fell behind Michigan, according to PlayPennsylvania.com, which provides news and analysis of the state’s gaming industry.
“With just 28 days and a schedule with one NFL game, even if that game is the Super Bowl, a pullback from January to February is expected,” said Dustin Gouker, lead analyst for PlayPennsylvania.com. “Pennsylvania remains one of the strongest markets in the U.S., and March Madness will almost certainly put the state back on the upswing.”
In total, Pennsylvania’s online and retail sportsbooks collected $509.5 million in bets, according to official data released Tuesday. That was up 54.5% from $329.8 million in February 2020, though off from the record $615.3 million in bets in January.
February’s bets produced $16.4 million in taxable revenue, up 246.9% from $4.7 million in February 2020, yielding $5.6 million in state taxes and $327,596 in local share assessments.
The Super Bowl generated $53.6 million in wagers alone, but even the largest single game in terms of wagering of the year is not enough to replace a robust NFL schedule. The expected month-over-month dip from January to February will likely keep Pennsylvania from surpassing Nevada as the nation’s No. 2 market, something the Keystone State nearly did in January.
“Pennsylvania continues to post strong results month after month, but Nevada is a more event-driven market so the Super Bowl handle there is typically the nation’s highest,” Gouker said. “But at the current trajectory of both markets, it seems it’s not if but when Pennsylvania will become the nation’s No. 2 market.”
Online sports betting produced 92.2%, or $469.7 million, of February’s handle, down from 94.3% in January as retail sportsbooks continued to slowly rebound.
FanDuel Sportsbook/Valley Forge Casino led the market with $176.3 million in online bets, down from $220.7 million in January. Those bets produced $7.3 million in taxable revenue. DraftKings/The Meadows was second with $111.7 million in bets, down from $143.5 million in January, yielding $3 million in taxable revenue.
The Barstool-branded Penn National/Hollywood Casino app continues to be a major player, finishing February in third with $65.6 million, up from $65 million in January. It managed to gross $5.1 million in revenue, but heavy promotion led to a $726,040 loss in taxable revenue.
The leaders were followed by:
- BetMGM/Hollywood Morgantown ($33.7 million handle, down from $39.3 million; $2 million, down from $33,148)
- BetRivers/Rivers-Pittsburgh ($20.4 million handle, down from $26.8 million; $1.4 million revenue, up from $1.3 million)
- Fox Bet/Mount Airy ($18 million handle, down from $26.6 million; $1.3 million, down from $2.5 million)
- Parx Casino ($17.7 million handle, down from $22.8 million; $1.6 million revenue, down from $1.8 million)
- PlaySugarHouse/Rivers-Philadelphia ($14.6 million handle, down from $20.8 million; $957,245 in revenue, down from $1.4 million)
- Unibet/Mohegan Sun Pocono ($7.5 million handle, down from $10 million; $416,533 revenue, up from $377,770)
- Betfred/Wind Creek ($1.7 million handle, up from $1.5 million; $50,386 revenue, down from $208,275)
- BetAmerica/Presque Isle Downs ($1.3 million handle, down from $1.7 million; $5,496 revenue, up from -$81,367)
- Caesars/Harrah’s ($1.1 million handle, down from $1.3 million; $3,541 revenue, down from $36,506)
Retail sportsbooks generated a $39.8 million handle, up from $35.4 million in January. Sportsbooks won $3 million on February’s bets. The top retail sportsbook was Rivers-Philadelphia with $7.7 million in bets.
“Retail sportsbooks still have some time to go before they are back to normal, but with COVID infections dropping as vaccination levels rise, better days are hopefully not far away,” said Valerie Cross, analyst for PlayPennsylvania.com. “In the online market, though, Barstool continues to make progress, keeping handle steady, but it took a huge promotional spend to do it.”
Online casinos and poker
Online casinos and poker rooms generated $77.8 million in gross revenue in February, which was down slightly from $80.4 million in January revenue. But that is mostly good news, as online casinos and poker rooms actually raised revenue to $2.8 million per day over the 28 days in February from $2.6 million per day in January.
The revenue yielded $21 million in state taxes and another $10.7 million in local share assessments and county grants.
Despite a record for per-day revenue, Pennsylvania is now the third-largest online casino market in the U.S. after Michigan tallied $79.7 million in its first full month of online casinos and poker.
“Pennsylvania’s online casinos are in a very good place,” Cross said. “Pennsylvania’s fall to No. 3 says more about Michigan’s rapid ascent than it does about anything in the Keystone State. Online casinos will continue to be a most reliable revenue generator for the state for the foreseeable future.”
For more information on the revenue generated by Pennsylvania, visit www.playpennsylvania.com/revenue.
Gambling in the USA
Andrew Cardno to Deliver Keynote at November Gaming Conference in Phoenix: “How are Technology Advancements Impacting Decision Making and Driving Innovation in Gaming?”
The gaming industry continues to evolve with the rapid integration of advanced technologies, offering new pathways for innovation and decision-making. Andrew Cardno, Chief Technology Officer of Quick Custom Intelligence (QCI), will deliver a keynote address titled “How are Technology Advancements Impacting Decision Making and Driving Innovation in Gaming?” at this year’s premier gaming conference, taking place on November 12th and 13th in Phoenix, Arizona.
Cardno, a leading expert with over two decades of experience in gaming and technology, will explore how advancements such as artificial intelligence, machine learning, and data-driven solutions are reshaping decision-making processes within the gaming industry. His address will provide actionable insights for professionals seeking to stay ahead in this fast-paced environment.
“Technology is no longer just an enabler; it’s the driving force behind innovation in gaming,” said Andrew Cardno. “At this year’s conference, I will delve into how these advancements can empower industry leaders to make better, faster decisions and capitalize on new opportunities for growth.”
Mark Pace, President of the International Gaming Standards Association (IGSA), praised Cardno’s expertise: “Andrew Cardno has a deep understanding of how technology is transforming the gaming industry. His ability to translate complex innovations into practical, strategic insights makes him the ideal keynote speaker. His work continues to inspire and guide decision-makers across the gaming world.”
The conference, held in Phoenix on November 12th and 13th, promises to be a hub of cutting-edge discussions and networking opportunities, bringing together top leaders to explore the future of gaming.
Gambling in the USA
New Jersey Division of Gaming Enforcement Announces September 2024 Total Gaming Revenue Results
New Jersey Division of Gaming Enforcement announced the September 2024 total gaming revenue results.
Casino Win:
Based upon filings with the Division of Gaming Enforcement, Casino Win for the nine casino hotel properties was $230.6 million for September 2024, reflecting a decrease of 6.5% when compared to $246.5 million reported in September 2023. Year-to-date Casino Win for the nine casino hotel properties was $2.15 billion, which is a decrease of 0.9% compared to the year-to-date Casino Win for September 2023.
Internet Gaming Win:
For the month of September 2024, Internet Gaming Win reported by casinos and their partners was $208.1 million, reflecting growth of 27.1% when compared to $163.8 million reported in September 2023. For the year-to-date period, Internet Gaming Win reported by casinos and their partners was $1.73 billion, reflecting growth of 23.2% when compared to $1.41 billion for the prior year-to-date period.
Sports Wagering Gross Revenue:
Sports Wagering Gross Revenue reported by casinos, racetracks, and their partners was $119.6 million for September 2024, reflecting a 7.6% increase when compared to $111.1 million reported in September 2023. Sports Wagering Gross Revenue reported by casinos, racetracks, and their partners was $835.4 million for the year-to-date period, reflecting a 17.8% increase when compared to $709.0 million reported in the prior year-to-date period.
Total Gaming Revenue:
Total Gaming Revenue reported by casinos, racetracks, and their partners was $558.3 million for September 2024, reflecting a 7.1% increase from $521.5 million reported in September 2023. For year-todate, Total Gaming Revenue reported by casinos, racetracks, and their partners was $4.72 billion, reflecting a 10.1% increase from $4.29 billion reported in the prior year-to-date period.
The three Detroit casinos reported $101.98 million in monthly aggregate revenue (AGR) for the month of September 2024, of which $101.23 million was generated from table games and slots, and $755,519 from retail sports betting.
The September market shares were:
• MGM, 47%
• MotorCity, 31%
• Hollywood Casino at Greektown, 22%
Monthly Table Games, Slot Revenue, and Taxes
The casinos’ revenue for table games and slots for the month of September 2024 increased 1.2% when compared to the same month last year. September’s monthly revenue was 8.6% lower when compared to the previous month, August 2024. From Jan. 1 through Sept. 30, the Detroit casinos’ table games and slots revenue increased by 1.0% compared to the same period last year.
The casinos’ monthly gaming revenue results were mixed compared to September 2023:
• MGM, up 6.6% to $47.68 million
• MotorCity, up 0.5% to $31.17 million
• Hollywood Casino at Greektown, down 7.8% to $22.38 million
In September 2024, the three Detroit casinos paid $8.2 million in gaming taxes to the State of Michigan. They paid $8.1 million for the same month last year. The casinos also reported submitting $12.5 million in wagering taxes and development agreement payments to the City of Detroit in September.
Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $22.02 million in total retail sports betting handle, and total gross receipts were $771,751 for the month of September. Retail sports betting qualified adjusted gross receipts (QAGR) were down by 52.0% in September when compared to September 2023, and down by 55.4% when compared to August 2024.
September QAGR by casino was:
• MGM: $601,794
• MotorCity: $11,817
• Hollywood Casino at Greektown: $141,908
During September, the casinos paid $28,559 in gaming taxes to the state and reported submitting $34,905 in wagering taxes to the City of Detroit based on their retail sports betting revenue.
Fantasy Contests
For August 2024, fantasy contest operators reported total adjusted revenues of $613,448 and paid taxes of $51,530.
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