Pennsylvania iGaming revenue surges by 31.2% in July

Júlia Moura August 27, 2024

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Pennsylvania iGaming revenue surges by 31.2% in July

The Pennsylvania Gaming Control Board (PGCB) released the Pennsylvania state’s gaming revenue figures for July 2024, evidencing a growth of 7.22 percent compared to the previous year, totalling $500.8 million. This performance encompasses a variety of forms of regulated gaming, including slots, table games, iGaming, sports betting, video game terminals (VGTs), and fantasy contests.

Source: SiGMA. Data from the **Pennsylvania** **Gaming Control Board**.

Traditional land-based gaming verticals are declining

Retail slot machines, historically the main source of revenue for Pennsylvania casinos, generated $204.3 million. However, there was a drop of 4.83 percent compared to July 2023, reflecting a reduction in the number of machines in operation, which went from 25,291 to 24,709 in the same period. Even with the decline, tax revenue from these games remained significant, reaching $103.2 million.

Retail table games also showed a retraction, with revenue falling 4.84 percent totalling US$ 79.4 million. The tax contribution of this category was US$ 13.1 million.

Growing verticals

Video game terminals (VGTs) installed at eligible truck stops saw an increase of 4.33 percent in revenue totalling $3.5 million, with $1.8 million in taxes. Costume contests showed growth of 9.01 percent, generating $714,971 in revenue and $107,246 in taxes.

The iGaming sector recorded significant growth, with revenue reaching $174.3 million, an increase of 31.20 percent. This figure was derived from $75.5 million of tax revenue, cementing iGaming as a mainstay for Pennsylvania’s gaming sector.

Sports betting also maintained a fast pace of growth, moving $414.7 million in July 2024, a jump of 22.52 percent. Taxable revenue from sports betting came in at $38.6 million, resulting in $13.9 million in taxes collected.

This performance reinforces the trend seen across the state, where the growth of iGaming and sports betting has offset a decline in traditional gaming segments such as slots and table games. Pennsylvania’s trends closely follow those of New Jersey, another benchmark in the US gaming and sports betting industry.