Pennsylvania Posts Record-Smashing $223.7 Million In December iGaming Revenue

The Pennsylvania Gaming Control Board reported a record $223.7 million in adjusted gross internet casino revenue for December as operators closed 2024 with a spectacular flourish.

It was the second consecutive month AGR surpassed $200 million and easily eclipsed November’s short-lived record of $200.5 million. December’s total was up 35.5% compared to the final month of 2023 and pushed the 2024 full-year total to $2.18 billion, a year-over-year increase of 25.3%.

December’s revenue figures also pushed the Keystone State just over $7 billion in all-time operator winnings since launch in July 2019. Internet casino wagering handle reached an all-time monthly high of nearly $7.3 billion as the overall drop surpassed $250 billion.

Despite the historic iGaming numbers, the overall taxable gaming revenue of $533.1 million for December was down 0.2% compared to 2023 when including sports betting, brick-and-mortar casinos, and video gaming terminals (VGTs). Sports betting put the biggest drag on year-over-year numbers, with the $21.9 million in December revenue down 69.8%.

Overall taxes collected by the state and local jurisdictions totaled $223.6 million, with slot machines providing the largest chunk at $102.2 million, followed by online casino at $98.2 million.

PENN hits historical benchmark

Already the lone licensee to surpass $50 million in monthly internet casino slot revenue, Hollywood Casino at Penn National Race Course National took it one step further in December by cresting $60 million. That was a 12.8% increase on November’s previous best of $53.3 million and 46.3% higher than the $41.1 million to close out 2023.

PENN has multiple skins under its license, notably powerhouses DraftKings and BetMGM, which contributed to a whopping $1.55 billion in iGaming slot drop. PENN also had a strong table games presence, leading all licensees with $25.8 million in December winnings — its second-best showing to the $29.8 million claimed in February.

It tacked on another $495,284 in revenue via online poker, resulting in a state-record $86.4 million in winnings. That smashed its previous high of $77.3 million set in February and represented a year-over-year increase of 41.8%. PENN reported calendar-year revenue totaling $820.7 million, an increase of 15.2% compared to 2023.

FanDuel powered Valley Forge Casino to a strong No. 2 finish, also setting an all-time monthly high at $61.3 million. It surpassed $40 million in slot winnings for the first time, coming within $14,000 of $42 million, and the $19.3 million in table games revenue ranked second behind its February haul of $19.7 million.

FanDuel had larger year-over-year growth compared to the combined revenue of PENN’s operators. Its $573.5 million in revenue was up 46.1% from 2023, fueled by a 41.6% surge in overall drop to $20.55 billion.

Though Rivers did not set highs in either gaming discipline, the combined totals proved enough for an all-time overall monthly revenue record of $35.2 million.

It eclipsed $30 million in slot winnings for the second consecutive month, while the $4.3 million in table games revenue also ranked No. 2 in its overall annals. December revenue was up 11.1% compared to last year, and the $379.6 million in full-year winnings represented 11.5% growth versus 2023.

Those are some rookie numbers

Golden Nugget and Bally’s finished their first full year of operations in the Keystone State with $61.3 million and $42.2 million in revenue, respectively. Golden Nugget capped 2024 with an all-time high of $8.2 million in winnings, the third straight month it more than doubled its year-over-year revenue.

Bally’s, meanwhile, edged $4 million for the first time since a record $4.3 million accrued in May. Its December revenue was up 44.7% from last year, though its total drop of $78.1 million was its second-lowest of the calendar year.

Bet365, which entered Pennsyvlania via Presque Isle Casino last year, posted $2.6 million in revenue for the final month of the year. That was up 21.3% from November and in line with the near-20% bump in action to $90.9 million. The England-based operator cleared $1 million in table games revenue for the first time in December with more than $1.3 million.

Sportsbooks take a pounding

December has been a brutal month for sportsbooks nationwide as favorites in NFL games continued to win at an above-average rate, and Pennsylvania operators did not escape the pain. Both Rivers Casino retail sportsbooks in Philadelphia and Pittsburgh finished in the red as the public came out a combined $488,900 ahead on $11.8 million in bets placed.

Overall, the unfavorable outcomes for the house contributed to a 5.3% hold on $893.4 million worth of wagers, leaving operators with $47.5 million in gross revenue. That was less than half the record $103.3 million won in November.

After subtracting $25.6 million awarded in promotional bonuses and credits, the state was able to tax only $21.9 million in adjusted revenue.

Despite limping to the finish line, it was still a good 2024 overall for Pennsylvania sportsbooks. Handle rose 9.6% to $8.42 billion, and gross revenue outpaced that at 13.3% to $778.4 million.

The 9.2% hold was three-tenths of a percentage point better than 2023.The state reaped $173.6 million in taxes from $510.7 million AGR, an increase of $17.8 million.

A tough close for brick-and-mortar casinos

Retail casinos reported year-over-year December revenue declines in both gaming disciplines, with the sharper drop in table games at 4.3% to $79.4 million. Slot winnings fell 2.7% to $202.1 million as the top three revenue generators all posted single-digit percentage downturns.

Parx Casino still easily led all venues in slot revenue at $31.5 million, ahead of Wind Creek ($23.1 million) and Rivers Pittsburgh ($22 million). Hollywood Casino at the Meadows flipped spots with Mohegan Pennsylvania to round out the top five, posting a 4.5% increase with $14.9 million while Mohegan slipped 6.1% to $13.9 million.

Wind Creek was again tops in table games revenue at $21.6 million, an increase of 3.6% versus December 2023. Despite a 4.4% decline, Parx was runner-up with $17.1 million and the only other location to reach eight figures.

The two Rivers venues combined for $13.7 million in winnings, which was down almost 8% as Philadelphia ranked fourth and Pittsburgh fifth. Live! in Philadelphia grabbed third with $7.9 million, but that was down 13.8%.