Pennsylvania Gaming Reports Best Year, 2023 Revenue Nearly $5.7B

Add Pennsylvania to the list of states calling 2023 their best year in terms of gaming. Joining New Jersey, which earlier this week , Pennsylvania on Thursday revealed that 2023 was a banner year for its gaming industry.

Pennsylvania has brick-and-mortar casinos, iGaming, in-person and online sports betting, truck stop video gaming terminals, and fantasy sports. In 2023, the varying gaming interests combined to win a record $5.697 billion. The 2023 win represents a 9.3% year-over-year increase.

The year-end report from the Pennsylvania Gaming Control Board (PGCB) revealed that iGaming, consisting of online slot machines and table games, was primarily responsible for the record performance. Internet gamblers lost $1.74 billion, 28% more than they did in 2022.

Physical slot machines inside the state s 17 casinos also fared well, as the terminals generated record gross gaming revenue (GGR) of $2.46 billion, a 3% improvement. Oddsmakers saw their sports betting hold climb more than 14% to a record $458.6 million.

The other verticals experienced slight year-over-year declines. Casino table game win dropped 2% to $990.5 million. VGT revenue fell 2% to $42 million, and revenue from fantasy sports contests slowed by 10% to $20 million.

iGaming in the six states where online casinos are legal continues to thrive. The $1.74 billion won by the online channels last year continued the sector s impressive run.

Pennsylvania legalized iGaming through the state s 2017 gaming expansion package. Online operations didn t go live until late 2019.

iGaming s first full year in Pennsylvania in 2020 came at a most suitable time. As the state ordered its physical casinos to shutter amid the pandemic, online casinos were open for play. iGaming platforms won more than $565.7 million that year.

Pennsylvania online casinos have only furthered their growth since. iGaming GGR in 2021 topped $1.11 billion, and ballooned to $1.36 billion in 2022.

The state s land-based casinos have managed to increase their revenues despite iGaming s significant revenue increases.

Retail slots and tables won $3.43 billion last year, a 1.6% year-over-year increase. The 2023 casino win also represents a 7% surge on 2021 GGR, but was only 5% richer than pre-pandemic 2019.

While brick-and-mortar casinos in iGaming states have managed to increase their year-over-year GGRs, analysts have expressed concerns that the online games could be slowing more .

Parx Casino north of Philadelphia was the top-grossing casino in the commonwealth last year. The property won $386.2 million on its slots and $202 million on its tables, for a combined haul of $588.2 million.

Parx , Parx Casino Shippensburg, are the only smoke-free casinos in the state.

Wind Creek Bethlehem placed second with GGR of $526.3 million, with slots accounting for $285 million and tables for $241.3 million.

As for iGaming, Penn Entertainment s Hollywood Casino online brand led the way with revenue of $712.4 million. Penn held an impressive 41% market share of the iGaming industry. There are 12 online casino operators.

Nevada and New Jersey had long been the country s two richest gaming states. That s until 2022, when Pennsylvania squeaked by the Garden State for second place. Pennsylvania s 2022 GGR of $5,211,303,191 edged New Jersey .

New Jersey regained the second spot in 2023 after reporting GGR of more than $5.77 billion. Nevada hasn t yet revealed its December numbers, but , the state s casinos won more than $14 billion.