Pennsylvania reports record annual gaming revenue
The PGCB has reported that fiscal year 2021/2022 revenue reached $5bn.
US.- Pennsylvania’s combined revenue from regulated gaming and fantasy contests generated a record $5bn in revenue for the fiscal year 2021/2022 ended June 30. The figure is about 30 per cent higher than the $3.9bn recorded in the previous fiscal year.
The estimated combined tax revenue for the fiscal year passed $2bn for the first time. The previous high was $1.59bn in the previous year.
The PGCB noted that the revenue increase from the previous fiscal year can be attributed to a record high in table games revenue, along with continued growth in the sports wagering, igaming and video gaming terminal (VGT) revenue.
Fiscal year 2021/22 gross revenue from slot machines at the casinos was $2.4bn, a 27.69 per cent increase when compared to the $1.8bn generated in 2020/21. Gross revenue from table games at the casinos was $1bn, a 40.73 per cent increase when compared to the $721m generated in 2020/21.
Revenue from igaming was $1.2bn, a 37.35 per cent increase in revenue when compared to $897m in 2020/21. Revenue from sports wagering was $315m, a 2.22 per cent increase from $308m.
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June’s revenue figures
The PGCB reported that the combined revenue from all forms of gaming along with fantasy contests for June 2022 was $389.8m, an increase of 0.24 per cent year-on-year. Total tax revenue generated through all forms of gaming and fantasy contests was $161.1m.
Hollywood Casino at Penn National led the market with $56.9m in gaming revenue, followed by Parx Casino’s $52.3m. Rivers Casino Philadelphia completed the top three at $42.6m. Gross revenue from slot machines was $192.9m, a 5.48 per cent increase. Gross revenue from table games was $76m, a decrease of 1.89 per cent year-on-year.
Online casino generated gross revenue of $102.9m compared to $88.9m in June 2021, an increase of 15.76 per cent. The sports wagering handle was $393.4m, down 6.35 per cent from June 2021. The taxable revenue figure for June 2022 was $12.7m compared to $34.2m in June 2021 a decrease of 62.7 per cent.
