Pennsylvania Continues October iGaming Record Revenue Haul

The Pennsylvania Gaming Control Board reported $251.1 million in adjusted gross internet casino revenue (AGR) for October on Wednesday, completing a sweep of record-setting totals for the country's largest three markets.

That figure was up 32.8% from last year and easily eclipsed the previous record of $238.2 million established in March. Pennsylvania became the third state to clear $250 million in monthly AGR and joined Michigan ($261.7 million) and New Jersey ($260.3 million) in setting new monthly standards.

The Keystone State also became the first to surpass $300 million in gross revenue, finishing just shy of $310 million before counting operator promotional credits and other deductions. That was up 27.6% from October 2024 as licensees have already surpassed full-year 2024 revenue totals. The $74.46 billion in year-to-date wagering, highlighted by a record drop of $8.05 billion in October, is within $73.5 million of last year's total.

The state's cut of taxes from iGaming totaled $73.3 million, the first time monthly receipts topped $70 million. That was $18.7 million above last year's inflow, and the $664.1 million in taxes for the 2025 calendar year is running $162.1 million ahead of 2024.

The $597 million in total revenue reported by the board spanning iGaming, sports betting, brick-and-mortar casinos, daily fantasy sports, and video gaming terminals was up 22.8% compared to last year.

Slots continue to drive revenue gains

It has been a big year for slots, which have provided platforms of more than $200 million in gross revenue for 12 months running. The $252.2 million accrued in October was an all-time high, up 28% from last year, and well past August's previous high of $239.6 million. The $190.8 million in adjusted revenue was a second straight monthly record and a 35.4% increase from 2024.

The $2.29 billion in year-to-date gross slot revenue is already more than $170 million above the 2024 full-year total and up 35% compared to the first 10 months of 2024. Adjusted revenue has kept pace at $1.73 billion, soaring 35.1% higher.

Bettors also packed the virtual tables outside poker in October, wagering a record $3.16 billion on craps, roulette, and blackjack, among others. The $57.7 million won by the house was an all-time high, bettering the previous mark of $56.2 million set in March, and represented a 25.7% year-over-year increase. Poker rake increased 13.6% to $2.5 million, which was right around the monthly average this year.

Penn nears nine-figure AGR haul

Penn Entertainment, which includes platforms DraftKings and BetMGM among its tethers to brick-and-mortar casinos, could become the first licensee to reach $100 million AGR in November after falling just short in October.

It has surpassed $100 million gross revenue for four consecutive months and posted a state-record $120.8 million total in October. That was up 33.3% from last year as its $92.5 million in gross slot revenue exceeded its $90.6 million total gross from October 2024.

When adding in its $27.7 million in table games winnings -- also an all-time high -- and $660,241 in poker rake, Penn rang up $98.7 million in taxable winnings. That was up 42.2% from a year ago, and Penn is tracking to clear $1 billion AGR for the calendar year with $861.6 million through the first 10 months.

FanDuel Casino, meanwhile, may be helping Valley Forge make a similar charge at nine-figure gross winnings. The licensee claimed a record $92.2 million in revenue, which translated to an all-time high of $71.4 million in taxable winnings.

Year-over-year increases for gross and adjusted revenue were 40.6% and 37.5%, respectively. Valley Forge also has a puncher's chance in reaching $1 billion gross revenue for the calendar year as it entered November $180.1 million shy of the benchmark.

BetRivers continues calm growth

BetRivers came within striking distance of its all-time AGR high of $38.6 million set in March, settling $393,600 short, while revenue ticked 15% higher compared to the previous October. Its $364.3 million in year-to-date AGR is up 17.7% versus the first 10 months of 2024, and the Rush Street Interactive platform continues to provide revenue totals with a narrow band. Its monthly taxable winnings have ranged between $34.3 million and $38.6 million over the last 12 months. Harrah's Philadelphia was the only other licensee to reach an eight-figure revenue total in October at $13.5 million, surging 79.6% higher from last year as it was one of five licensees to post an all-time high in monthly AGR. It also set a new benchmark for gross winnings at $17.5 million as both verticals in the platform hit record totals.