The Pennsylvania Gaming Control Board (PGCB) has confirmed a significant drop in sports betting during the month of February, although the state has seen a slight rise in revenue.
Overall gambling revenue across Pennsylvania, which includes land-based slots and table games, online casino, fantasy sports, sports betting and video gaming terminals produced $304.3 million in revenue during the month, a rise of 0.5% on January’s figure and up 13.8% on last year.
The small rise was apparently due to growth in the land-based sector, with slot revenue climbing 4.9% and table games revenue also growing, by 6.6%.
But this good news for the sector was offset by a decline in sports betting of 79.4%, with the
$4.7 million taken in February lower than the $22.8 million in January, although it was a huge 147.4% higher than the number for last February. The decline is likely to be down to the fact that the NFL play offs reached a peak with the Super Bowl in the month of January.
Online sports betting platforms took the majority of the money, with Meadows Racetrack and Casino, which has a betting partnership with DraftKings, passing Valley Forge Casino as the sport betting revenue leader. Meadows took $1.2 million in revenue, ahead of the $1.1 million taken by Valley Forge, and its betting partner FanDuel during February.
Parx Casino was the third largest sports betting revenue generator, with Rivers Casino and Mount Airy Casino also showing profits, although two venues, Hollywood Casino at Penn National and Harrah’s in Philadelphia, both recorded losses for the month.
But the betting sector in Pennyslvania, as across most US states, is bracing itself for a disastrous period of lost revenue as shut downs due to the coronavirus take effect, with all land-based casino and sports betting likely to come to a halt for the foreseeable future.