Pennsylvania reports $5.7bn in revenue for 2023

Updated:2024-03-25 14:08    Views:171

The Pennsylvania Gaming Control Board (PGCB) has disclosed the state's gaming revenue for the calendar year 2023, reporting a record total of $5.7bn.

This marks an increase of 9.3% from the previous year's revenue of $5.21bn.

For the December 2023 revenue report, Pennsylvania generated $534m in revenue, surpassing New Jersey's revenue of $522m within that same month.

The primary driver of this growth was a surge in iGaming, which rose by almost 28% compared to 2022, reaching a total of $1.74bn. 

The aggregated revenue encompasses contributions from various gaming segments, including slot machines, table games, sports wagering, iGaming, video gaming terminals (VGTs) and fantasy contests.

Tax revenue generated from these gaming activities reached a record $2.34bn in 2023, surpassing the 2022 figure of $2.12bn. The figures highlight the fiscal impact of the gaming industry on the state's economy.

Slot machines emerged as the highest revenue contributor, generating $2.46bn in 2023. Conversely, table games reported a 1.90% decrease in revenue,Online Casino Games for Real Money amounting to $971.74m.

Increases were observed in sports wagering revenue, totalling $458.62m, marking a 14.31% rise from 2022. The sports wagering handle, representing the total amount wagered, reached $7.68bn, indicating a 5.95% increase from the previous year.

Despite a marginal dip in VGT revenue by 2.00%, fantasy contests also experienced a decrease of 10.02%, generating $20.09m in 2023.

In addition to the annual figures, specific casino performances were reported, with Rivers Casino in Pittsburgh generating over $370m from slot machines, table games and sports wagering.

This report follows the November 2023 update, where Pennsylvania recorded a sports wagering handle of $934.1m, indicating an 18.4% increase from the previous year.

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