Revenue from the Pennsylvania gambling industry in July reached $500.8 million. According to the Gaming Control Board, it was 7.2 percent higher than last year. Also, it was 6.1 percent higher than the revenue in June.
Despite a 4.8% year-on-year decline to $204.3m, Pennsylvania’s largest source of gaming income is still retail slot machines. Even though it declined 4.8% to $79.4m, land-based table revenue was third overall.
Regarding igaming or internet gambling, the expansion in Pennsylvania seems unstoppable. According to bookie PPH experts, igaming generated $174.3 million in revenue for July, up 31.2% year over year. With an increase of 32.2%, online slots contributed $125.4m. While income from online table games increased by 31.7%, revenue from online poker decreased by 13.0% to $2.3 million.
The Hollywood Casino at Penn National Race Course continued to dominate the igaming industry, raking in $64.0 million, an increase of 17.7 percent. Rivers Casino Philadelphia came in third with $29.8 million, followed by Valley Forge Casino Resort with $45.5 million.
Pennsylvania Gambling Industry Revenue
July was another banner month for Pennsylvania’s sportsbooks, with total handle increasing 22.5% year over year to $414.7m from both online and retail venues. With a 12.7% hold, the vertical’s revenue reached $52.7m. Taxable income was $38.6 million, up 20.2% from the previous year, after adjusting for $14.2 million in promotional credits. While retail operators brought in $3.2 million, $35.3 million came from internet sports betting.
Regarding sports betting in Pennsylvania, FanDuel remains at the top because of its partnership with Valley Forge Casino Resort. From $166.4 million spent in July, FanDuel reported $17.9 million in wagering income after promotional expenditure, an increase of 31% and a decrease of 10.8%. Second place goes to DraftKings, which brought in $10.5 million in revenue from a 9.5% hold and a handle of $110.4 million. After that, BetMGM was third, with $1.9 million in monthly revenue.
According to the best sports betting software suppliers, video gaming terminals contributed $3.5 million, or 4.3% of total gambling income. Fantasy sports also brought in $714,971, a 9.0% increase.
Gambling Tax in Pennsylvania
Pennsylvania’s taxes that month brought in $207.7 million, an increase of 8.2% compared to July of last year. With a 54% charge on GGR, slot machines produced the highest tax revenue at $103.2m. The 14% tax on land-based table gaming generated an additional $13.1 million.
The overall revenue from igaming was $75.5 million; however, the regulator did not specify which games were subject to this tax, but online slots are also subject to the 54% rate. $13.9 million came from sports betting’s 34% GGR tax, $1.8 million from VGTs, and $107,246 from fantasy sports.
However, the twelve casinos in the state want to use the tax revenue to regulate the unregulated skill games that are popular there. Since skill game operators are exempt from paying taxes, the licensees request that the Supreme Court rule that the 54% slot tax is illegal.
According to some estimates, the number of unauthorized slot-like games operating in the state might reach 100,000. Casino recommendations stated there is no justification for taxing licensed businesses on half of their slot machine profits while enabling illegal firms to avoid paying taxes.
