Mon. Apr 22nd, 2024
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For the first time in their history and March reportedly saw the various casinos and sportsbooks in the eastern American state of Pennsylvania bring in more than $400 million in aggregated monthly revenues.

According to a Thursday report from the online news domain at PlayPennsylvania.com citing official information from the Pennsylvania Gaming Control Board, the finishing tally of $403.2 million was almost 26% higher than the previous record of $320.2 million set in October while simultaneously representing a month-on-month rise of 33.5%. The source detailed that the March result also means casinos and sportsbooks in ‘The Keystone State’ combined to chalk up an all-time high of over $1 billion in aggregated first-quarter revenues.

Sportsbetting success:

Boosted by interest in this year’s edition of the annual ‘March Madness’ collegiate basketball tournament and sportsbooks in Pennsylvania reportedly saw their aggregated March handle improve by 10% month-on-month to $560.3 million. The sports wagering service operated by FanDuel Group in partnership with the Valley Forge Casino Resort property from Boyd Gaming Corporation purportedly led the way with a record $205.8 million followed by the DraftKings Incorporated offering from The Meadows Racetrack and Casino at $118.4 million.

Pennsylvania casinos and sportsbooks chalk up record March results

Rewarding returns:

The figures from the Pennsylvania Gaming Control Board reportedly moreover showed that this led to an impressive spike of 79% month-on-month in combined March sportsbetting revenues to $29.3 million with around 91% of the action taking place online. But these numbers were purportedly tempered by drop of about 10% in daily fantasy sports receipts to roughly $1.8 million with nearly all of these having been processed by DraftKings Incorporated and FanDuel Group.

Significant stimulation:

The March aggregated revenue tally for Pennsylvania was furthermore reportedly 162.7% higher than for the same month last year, which was cut short owing to temporary coronavirus-related shutdowns on all land-based facilities. The retail sector has now purportedly improved to post an increase of 127.6% year-on-year in slot receipts to $199.2 million as takings from gaming tables swelled by 115.5% to $71.3 million.

Complimentary considerations:

For its part and iGamingBusiness.com reported that these land-based figures are all the more impressive considering that casinos in Pennsylvania remain subject to a range of strict social distancing and maximum capacity restrictions. However, this source explained that even away from the state’s twelve land-based venues and revenues from video gaming terminals rose by 285.4% year-on-year to $3.6 million.

iGaming interest:

When looking purely at revenues from online casino gaming in Pennsylvania and the $97.7 million figure recorded for March reportedly represented an upturn of 302.1% year-on-year with almost 22% of this tally at $66.4 million having come from video slots. The state’s iGaming operators also reportedly recorded $28.9 million in online table games receipts for the 31-day period as well as $2.4 million in takings from poker.

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