Pennsylvania’s Gambling Industry Achieves Historic Revenue High in 2023

The Pennsylvania Gaming Control Board revealed that 2023 saw a remarkable boom in the state’s gambling industry, with a combined revenue of $5.7 billion, marking a 9.3% increase from the previous year. The surge in revenue was attributed to various gaming segments, with iGaming leading the pack with a staggering 28% surge, contributing $1.74 billion to the total figure. Slot machines also played a significant role, generating $2.46 billion in revenue, making them the highest-grossing segment across the state.

Other gaming segments such as table games, sports wagering, video gaming terminals, and fantasy contests also contributed to the record-breaking revenue. The Pennsylvania Gaming Control Board reported that monthly gaming revenue exceeded the $500 million mark for the first time since gambling was legalized in 2006.

In November 2023, Pennsylvania’s sports betting handle reached a record-breaking $934.1 million, surpassing $900 million for the first time. The state’s tax revenue also saw a substantial increase, exceeding $2.34 billion, compared to the $2.12 billion recorded in 2022.

The breakdown of individual casino revenues revealed that The Rivers Casino in Pittsburgh generated over $267 million from slot machines, $87 million from table games, and $16 million from sports wagering. Wind Creek Bethlehem led the state in table-game revenue at $241.2 million, while Parx Casino in Bucks County secured the second position with $202 million in table-game revenue.

Despite a 2% decrease in slot machine revenue, Parx Casino led the state with $386.2 million, followed closely by Wind Creek with $285 million in slot revenue, representing a 4.7% increase. Wind Creek Bethlehem saw a significant 32% growth in iGaming revenue, while Hollywood Casino at Penn National dominated the iGaming scene with $712.4 million in revenue.

Despite overall success, Wind Creek Bethlehem faced a setback in sports wagering, experiencing a decline of more than 60% to $719,299 from $1.8 million. Valley Forge Casino Resort in Montgomery County led in this category, reporting $233.5 million, an 11.2% increase.

Industry analysts speculate that Pennsylvania may soon challenge New Jersey for the top spot in the national gaming landscape as the state continues to reap the benefits of a thriving gambling industry.