Pennsylvania Online Casinos Make Solid Numbers in Opening 2024 Revenue Report Figures

Online Casinos in PennsylvaniaPRESS RELEASE

After a strong year, the Pennsylvania online casino market started 2024 solidly, albeit with numbers that were not spectacular. This is perhaps unsurprising given the massive increase in revenue that was reached last year, so much so that these levels of profit were not going to continue in quite the same pronounced upward trajectory.

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In January, the revenue generated by online casinos in Pennsylvania reached $189.3 million, and though this was a little down on December’s record-breaking numbers, it still shows an increase of over 18% when compared to January 2023.

The breakdown of the revenue saw $149 million accrued from online slots, $36 million from table games and another $2.6 million from online poker. The dip, if you can call it that, should not leave anyone under the impression that the market is stagnating. Indeed, Chris Imperiale, Managing Editor of PlayPennsylvania, explained,

“The Pennsylvania online casino market took a slight step back in January, but still produced a solid showing to start 2024. Last month, platforms generated just over $189.3 million in earnings, marking the fifth straight report with revenue exceeding $186 million.”

“This ended up being around a 7% decrease from the record-setting December, however, January’s revenue showed an increase of more than 18% year over year. Although a new best wasn’t set, it was a strong performance to start the year for PA online casinos.”

So, in many ways, the market in Pennsylvania can be characterized as being very much a victim of its own success. The fact that this is not five successive months with revenue above $186 million is considered something of a failure tells you all you need to know about the healthiness of the industry in the state.

2023 saw the overall revenue from gaming, online, and the brick-and-mortar alternative reach $5.69 billion, which is an increase of 9.3% in 2022.

The overall revenue from gambling, combining offline and online spheres, saw $477 million in revenue secured in January 2024, an increase of 2.7% when compared to January 2023. Again, that total is down on December’s bumper offering, which was as high as $534 million for last month.

Interestingly, the sports betting market was up by an astonishing 77% and in this field, it is FanDuel that is leading the way from DraftKings, way back in second, with Hollywood Casinos and BetMGM further behind.

New online casino brands are opening in the state, which is always a good measure of where a state stands, with Fanatics Betting replacing PointsBet and Betr, a micro-betting brand, having moved into the Pennsylvania market.

Betr has also moved into the market in both Colorado and Kentucky.




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