Pennsylvania Shows Online Slots Revenue Increase in January
The Pennsylvania Gaming Control Board has released the gaming results for the US state which has shown a strong increase in revenue for January this year.
Picture of a land-based casino in Pennsylvania (Source: Wikipedia).
LISTEN TO THIS ARTICLE:In a breakdown of the financial statement, gambling during January in Pennsylvania reached $529.1 million which is a significant increase of 10.9% when using a year-on-year comparison. The main driver behind the growth in gaming was online gambling which surged to $210.2 million, a 40% increase when compared to the same month for the previous year.
This overall increase in gaming in the state translated to a tax revenue for Pennsylvania in January standing at $221.6 million. Slots from land based venues contributed $94.8 million, sports betting accounted for $51.5 million, and the iGaming sector provided $93.9 million.
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Land-based Gambling Market Saw Strong Performance
The land-based gambling market in Pennsylvania was one of the main sectors that performed well in January, with slot machines, casino table games, and video gaming terminals showing growth. Slots revenue for the month was $187.8 million a rise of 4.6%, and table games enjoyed an increase of 1.5% to achieve revenue of $73.7 million.
Retail sports betting in Pennsylvania continued to see a monthly decline and the revenue of $51.5 million for January was a year-on-year drop of 26.4%. However, there continued to be a marked rise in the demand for online sports wagering which resulted in the total sports betting sector enjoying a slight rise of 1.8% to $873.1 million.
There continues to be a boom in the gaming market in Pennsylvania with the state passing gaming revenue of $6 billion in 2024.
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