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PlayPennsylvania.com: Sportsbooks, online casinos combine for more than $100 million in revenue in December

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Pennsylvania

 

Pennsylvania’s sportsbooks and online casinos returned to their record-breaking ways in December, setting fresh highs while combining for more than $100 million in revenue. The late-year push put the state’s sports betting handle at more than $3.5 billion for 2020, a shocking total in a year when four months of major U.S. sports were canceled and retail outlets have been shuttered, according to analysts from PlayPennsylvania, which provides news and analysis of the state’s gaming industry.

“Online betting, both on sports and online casino games, have been a crucial silver lining to what was overall a rough year for Pennsylvania’s gaming industry,” said Dustin Gouker, lead analyst for PlayPennsylvania.com. “Obviously, the growth online has come unfortunately as the retail market has faced pandemic-related shutdowns. But without the increase in online revenue, there is no telling how much weaker a position the entire industry would be in right now.”

After a one-month retreat below $500 million, Pennsylvania’s sportsbooks accepted $548.6 million in wagers in December, according to official data released Tuesday. December’s bets were up 11.5% from $491.9 million in November and topped the record $525.8 million record set in October.

Taxable operator revenue hit $34.1 million, less than the record $37.4 million in November, which generated $11.6 million in state taxes and $681,191 in local share assessments.

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Compared with December 2019, December’s handle was up 60.1% from $342.6 million while taxable revenue rose a whopping 199.4% from $11.4 million.

For all of 2020, Pennsylvania’s retail and online sportsbooks produced:

  • $3.6 billion in wagers, up 140.3% from $1.5 billion in 2019.
  • $3.3 billion in online wagering, up 208.4% from $1.1 billion in 2019.
  • $189.7 million in taxable revenue, up 125.5% from $84.1 million in 2019.
  • $64.5 million in state taxes.

Only New Jersey, which shattered a U.S. record with more than $6 billion in bets in 2020, and Nevada have collected more in bets this year than Pennsylvania. But Pennsylvania’s grip on third place is being challenged by Illinois, which reached $434.3 million in October, the market’s fourth full month of operation.

“Pennsylvania and Illinois make for such an interesting comparison, because their markets are so similar, including a nearly identical population,” said Valerie Cross, analyst for PlayPennsylvania. “Pennsylvania is still the more mature market, though, and is well poised to shatter just about every record it set in 2020.”

With retail sportsbooks shut down for most of the month, 97.6%, or $548.6 million, of all bets were made online in December, which was up from 91% in November. FanDuel Sportsbook/Valley Forge Casino became the first to top $200 million in online wagers in a month with $207.6 million in December, up 17.5% from $176.7 million wagered in November. Those bets produced $7.1 million in taxable revenue, down from $15.1 million in November. DraftKings/The Meadows remained in second place with $130.9 million in bets, up from $109.9 million in November. That yielded $5.4 million in taxable revenue.

Penn National continues to make its own dent in the market. The Hollywood Casino license, which includes Penn National’s Barstool-branded app and the recently launched BetMGM app, grew to $71.8 million in bets from $55.7 million. That produced a market-leading $13.9 million in taxable revenue.

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The leaders were followed in December by:

  • Fox Bet/Mount Airy ($28.9 million handle, up from $28.1 million; $1.9 million, up from $1.6 million)
  • BetRivers/Rivers-Pittsburgh ($26.8 million handle, down from $28.1 million; $1.6 million revenue, up/down from $975,843)
  • Parx Casino ($23.7 million handle, up from $19.4 million; $2 million revenue, down from $2.1 million)
  • PlaySugarHouse/Rivers-Philadelphia ($21.8 million handle, up from $19.4 million; $1 million in revenue, up from $917,164)
  • Unibet/Mohegan Sun Pocono ($8.9 million handle, up from $8.2 million; $86,200 revenue, up/down from $194,793)
  • Caesars/Harrah’s ($1.4 million handle, up from $1.1 million; $15,700 revenue, down from $58,141)
  • BetAmerica/Presque Isle Downs ($1.5 million handle, up from $957,165; -$7,840 revenue, down from $8,632)

“The successful launch of Barstool proves there is still some room for growth in the Pennsylvania market, both in terms of overall market size and in introducing new operators,” Gouker said. “To that point, the addition of another major player such as BetMGM makes Pennsylvania one of the most competitive markets in the U.S. That should bode well for the year ahead.”

Retail sportsbooks, which were closed on Dec. 12, fell to $13.4 million in bets from $45.1 million in December 2019. Sportsbooks won $1.2 million on those bets, down from $3 million in December 2019. The top retail sportsbook was Parx Casino with $4.3 million in bets.

Online casinos surge

Online casinos and poker rooms reached $70 million in monthly revenue for the first time. Online casinos and poker took in $71.6 million in gross operator revenue, shattering the record $59.8 million set in November. That amounted to $2.3 million per day over the 31 days of the month, up from $2 million per day over the 30 days of November. December’s revenue generated $19.3 million in state taxes and another $9.8 million in local share assessments and county grants.

Online casino games and poker, launched in late 2019, have been a boon to Pennsylvania, particularly after retail casinos were shuttered in March. With its 12 casinos closed for months, online casinos produced $680.2 million in revenue and $154.6 million in state taxes for the year.

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“The late-2019 launch of online casinos proved to be fortuitous timing,” Cross said. “The revenue lost from casino closures could not have been foreseen and not be completely replaced, but there is no doubt the launch of online gaming helped stem the losses and steady the industry.”

Highlights from December:

  • Online table games and slots alone generated $68.9 million in revenue on $2.9 billion in bets, which was up from $2.3 billion in bets in November.
  • Penn National, which includes the DraftKings casino, took the market lead with $23.5 million in revenue on a market-leading $1.1 million in wagers. Rivers-Philadelphia, which includes PlaySugarHouse and BetRivers casinos, tallied $19.3 million in revenue on $668.2 million in wagers.
  • Mount Airy/PokerStars, the lone poker operator in the state, generated poker revenue of $2.7 million.

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

About the PlayUSA.com Network:
The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.

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Aposta Ganha launches Black Friday promotion with new ambassador Luva de Pedreiro

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Aposta Ganha launches Black Friday promotion with new ambassador Luva de Pedreiro

 

Aposta Ganha, the fastest growing Brazilian sports betting and casino site in Brazil, has launched its Black Friday promotion with its newest ambassador Luva de Pedreiro, AKA Bricklayer’s Glove.

With over 21 million followers on Instagram, the digital influencer and social media phenomenon will strengthen the brand’s presence in the market and shake up Black Friday with a campaign full of special offers for bettors.

Known for his catchphrase “Receeeeba!” and his irreverent personality, Luva de Pedreiro will be the main face of the campaign, creating a direct connection with the public, football fans and social media enthusiasts. The partnership aims to increase Aposta Ganha’s visibility in the market, attract new bettors and offer an even more dynamic experience.

Aposta Ganha is taking advantage of Black Friday to reinforce its commitment to ethical and transparent operations in the market. The platform complies with the new regulations of the Federal Government and invests in education and awareness initiatives, ensuring a safe experience for its users.

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Vitor Paulin, Chief Marketing and Growth Officer at Aposta Ganha, said: “Signing an ambassador like Luva de Pedreiro is a huge milestone for Aposta Ganha. His authenticity and connection with the public make him the ideal partner to boost our brand and make the betting experience even more exciting.”

Aposta Ganha’s Black Friday brings unmissable offers for all types of bettors. One highlight is that bettors will receive 10% cashback on the amount lost in the Aviatrix game and daily offers for sports betting. The promotions will be valid from November 21 to 30, with exclusive advantages in selected games each day.

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MAJOR LEAGUE BASEBALL SELECTS SPORTRADAR TO TRANSFORM PLAYER TALENT SCOUTING FOR ALL 30 CLUBS

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MAJOR LEAGUE BASEBALL SELECTS SPORTRADAR TO TRANSFORM PLAYER TALENT SCOUTING FOR ALL 30 CLUBS

 

Sportradar today announced a multiyear agreement with Major League Baseball (MLB) to offer unparalleled sports performance analysis of amateur baseball prospects, through its Synergy Coaching and Scouting solution, to the league and its 30 Clubs.  This new partnership will revolutionize player talent scouting through Sportradar’s advanced, proprietary technology and highlights Sportradar’s commitment to delivering innovative and game-changing solutions to the league.

Under the agreement, MLB and its 30 Clubs will gain access to an unprecedented depth of player analysis and insights with event coverage expanding significantly, from 3,300 to more than 20,000 games – an over 600% increase. This includes college, international, professional partner leagues and leading amateur leagues, such as the MLB Draft League, the Appalachian League and MLB Develops events, and, for the first time, top high school events.

The Synergy Coaching and Scouting solution is uniquely positioned to address the player evaluation needs of MLB as it leverages Sportradar’s expertise ingesting and transforming millions of data points from video into detailed metrics, actionable insights and dynamic visualizations. This, combined with Sportradar’s AI-powered sports performance technology, enables Synergy to provide unparalleled, in-depth analysis of every player, play and game situation, and equips MLB and Club scouts with the information and insights they need to streamline the evaluation process, guide draft decisions and support the development of future MLB players.

“Sportradar’s cutting-edge technology, alongside our reputation as a trusted partner to leading US sports leagues, is driving the transformation of sports performance analysis,” said Eduard Blonk, Chief Commercial Officer, Sportradar. “Through Synergy we are pleased that we are expanding our relationship with MLB, equipping them with the deep data and insights they need to identify the next generation of players. We are eager to continue bringing innovative solutions to MLB.”

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“We are excited to expand our relationship with Sportradar and ensure equal access to the Synergy video and data services for all 30 MLB Clubs. This platform has become a key resource for Clubs in the domestic and international scouting process and we look forward to continuing our work with Sportradar in the coming years,” said John D’Angelo, MLB’s Sr. Vice President of Amateur and Medical Operations.

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Financial reports

Commercial Gaming Revenue Growth Continues in Q3 2024, Driving Industry’s 15th Consecutive Quarter of Growth

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Commercial Gaming Revenue Growth Continues in Q3 2024, Driving Industry’s 15th Consecutive Quarter of Growth

 

U.S. commercial gaming revenue reached $17.71 billion in Q3 2024, the industry’s highest-grossing Q3 on record, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. This makes Q3 2024 the industry’s 15th consecutive quarter of annual revenue growth, with September marking the 43rd straight month of rising year-over-year commercial gaming revenue.

Through the first nine months of the year, nationwide commercial gaming revenue stands at $53.24 billion, pacing 8.0 percent ahead of 2023 and putting the industry on track for a fourth straight record revenue year.

In Q3 2024, 29 of the 35 commercial gaming jurisdictions operational last year saw increased year-over-year revenue. This growth resulted in an 8.9 percent year-over-year increase in state and local taxes tied directly to gaming revenue, with commercial gaming operators contributing $3.79 billion in taxes across the quarter.

Quarterly revenue from land-based gaming – encompassing casino slots, table games and retail sports betting – totaled $12.56 billion, 0.62 percent lower than Q3 2023. Meanwhile, combined revenue from online sports betting and iGaming totaled $5.14 billion in Q3 2024 as online gaming made up 29.0 percent of commercial gaming revenue, a significantly higher share than in Q3 2023.

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Looking at each sector in Q3 2024:

  • Traditional Gaming: Traditional brick-and-mortar casino gaming generated quarterly revenue of $12.38 billion, a contraction of 0.9 percent year-over-year.
  • Legal Sports Betting: Americans legally wagered $30.3 billion on sports, generating $3.24 billion in quarterly revenue (+42.4% YoY). Recent market launches in Kentucky, Maine, North Carolina and Vermont contributed to this growth.
  • iGaming: iGaming generated $2.08 billion in revenue, marking a 30.3 percent year-over-year increase.

“Q3 2024 continued gaming’s momentum from the first half of the year, with online casino and sports betting driving strong growth. At the same time, new brick-and-mortar casino openings bolstered traditional gaming, which still accounts for the bulk of industry revenue,” said AGA Vice President of Research David Forman. “More than a quarter of commercial revenue now regularly comes from online sources, raising the importance of continued sustainable growth with consumers in those states.”

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