The Pennsylvania Gaming Control Board (PGCB) has released financial figures for October 2023. Pennsylvania generated gaming revenue of $483 million in October at its 17 land-based casinos and from iGaming, video gaming terminals (VGTs), sports betting, and fantasy sports betting. This was an increase of over 7% compared to revenue from October 2022.
Pennsylvania is in third place
Pennsylvania’s revenue for October puts it in third place behind Nevada and New Jersey. Casinos in New Jersey and its sportsbooks brought in just over $487 million and collected over $25 million in online gambling taxes in October. Nevada’s results aren’t in yet, but it has brought in gross gaming revenue of over $1 billion over the past 31 consecutive months.
Slot machines are always popular in casinos, but the revenue generated at the 17 casinos in Pennsylvania from slot machines saw a slight decrease compared with October 2022. The earnings from table games at the casinos did a little better and have improved by about 2% year-over-year.
Sports betting and iGaming fuels growth
Sports betting and iGaming are propelling revenue growth in Pennsylvania. Losses in in-person GGR were more than made up by online betting. iGaming is a rapidly growing industry segment, and there was a substantial increase in iGaming earnings in October this year. The gross monthly revenue from iGaming reached nearly $155 million, which was an over 24% increase over what was generated in October 2022.
Interactive slots brought in nearly $110 million. Revenue from online tables climbed by 19%. The revenue from video gaming terminals saw a slight decrease. October 2023 is the first time Pennsylvania has ranked first for iGaming revenue.
Sportsbook revenue surged and topped $800 million for the first time. The new monthly record of over $829 million was 4% above the October 2022 total. Oddsmakers in Pennsylvania did well when the Arizona Diamondbacks won seven games against the Philadelphia Phillies. The tax revenue from sports wagering during October 2023 was over $17 million.
The smoking issue
A recent bill to prohibit smoking indoors in casinos was passed by the House Health Committee. It is seeking to amend the Clean Indoor Air Act passed in 2008 that left a loophole.
State rep Dan Frankel, chairman of the committee, believes it’s time to protect casino workers against second-hand smoke. Pennsylvania casinos can currently allow indoor smoking on up to 50% of gaming floors.
Parx Casino and its satellite casino in Shippensburg are the only two gambling venues that don’t allow indoor smoking in the state. The Pennsylvania tourist season attracts many visitors, and Parx Casino benefits from attracting non-smokers.
Parx Casino revenue
Despite the fact that it doesn’t allow indoor smoking, Parx Casino continues to bring in more revenue than the other Pennsylvania casinos. Its slots brought in over $30 million in October, which was about $8.5 million more than its closest competitor. When it came to classic casino games, it also did well. Table game revenue for the period was $17 million, ranking second in the state.
