PGCB reports US$1.6 million in fantasy sports revenue
The board revealed that revenue from fantasy contests decreased by US$500k in February.
US.- The Pennsylvania Gaming Control Board (PGCB) has released the February Fantasy Contests Revenue Report, which details that the activity in the state suffered a set back during February’s operations.
The report provides a breakdown on fees collected from the play of Pennsylvania participants, fantasy contests operators’ adjusted revenue, and tax revenue due to the Commonwealth. Fantasy contests adjusted revenue for February was US$1.6 million. That figure is approximately US$500k less when compared to the adjusted revenue of US$2.1 million in January 2019.
Tax revenue is derived through a 15% assessment on the adjusted revenue. After the assessment, the revenue goes to the Commonwealth General Fund. This resulted in tax revenue generated during February of US$244k.
DraftKings was once again the top scorer in the state, this time by increasing the gap with competitor FanDuel. The company had posted US$1 million in adjusted revenue in January, approximately US$28k more than FanDuel. In January, that gap significantly grew as DraftKings posted US$906k and FanDuel US$622k.
The regulator also revealed this week that sports betting operations during February managed to register total revenue of US$1.9 million, down from January’s US$2.6 million. Total handle was also down from US$32 million in January to US$31.5 million in February. Total taxes paid to the Commonwealth totalled US$700k.
