May's Pennsylvania igaming revenue increases 24%.

May's Pennsylvania igaming revenue increases 24%.

 While the Keystone State also showed rises throughout sports betting and the land-based sector, growth within the igaming business boosted gambling revenue in Pennsylvania up 8.7% year-on-year to $521.0m (£409.9m/€485.2m) in May.
 With a 23.5% annual increase, Pennsylvania May Igaming gross income came in at $174.1m in May.

 May's total income was very comfortably more than $479.4m in the same month last year.  It also above 3.3% the $504.6m Pennsylvania recorded in April this year.

 Although the igaming section grew most, Pennsylvania's biggest source of gaming income is still land-based slots.  Physical slot revenue for May came at $214.1m, a 1.6% increase over last year.

 With a handle of $557m, mobile sports betting gross gaming income grew 10.5% annually to $59.1m, a 21% increase on the year before.  Across operators, promotional expenditure rose 6.3%.

 Table game income in the land-based industry rose 2.5% to $83.7m. 

 Deutsche Bank observed that year-on- year gross gaming income for Caesars' land-based assets dropped 12.2% while Penn's dropped 1.2%.

 With nine weekend days in May of 2024 against eight weekend days in May 2023, an investment bank analyst note observed that the calendar in May was beneficial.

 In Pennsylvania, Igaming takes front stage.
 While table game revenue increased 18.6% to $44.9m, online slots had the largest increase—revenue jumped 26.2% to $126.9m.  Online poker income dropped 9.1% though, to $2.3 million.

 With a 25.5% share of igaming in May, Deutsche Bank said FanDuel dominated the industry.  With 18.7% market share, DraftKings is thought to follow closely; BetRivers also boasts 18%.  

 While Valley Forge Casino Resort reported $44.4m in igaming income while Rivers Casino Philadelphia's site indicated $31.3m in revenue, Hollywood Casino at Penn National Race Course posted $65.1m in total igaming revenue.

 Every operator in the Pennsylvania igaming industry said they saw increase in May.

 Sports betting handle in May approaches $600m.
 Turning now to sports betting, income here rose 7.6% year-on-year to $44.2m.  Of total, $41.6m came from online wagering; shopfront sportsbooks around Pennsylvania contributed the remaining $2.6m.

 Regarding handle, players gambled a total of $591.9m on sports, up 19.4% from $495.6m in May.

 Separating this section, Valley Forge Casino Resort, working with FanDuel, led with $22.8 million in income. 

 With income of $11.0m, Hollywood Casino at the Meadows and DraftKings came in second far apart.  On $2.2 million, Hollywood Casino at Penn National rounded off the top three working with ESPN Bet.

 Regarding other gaming revenue sources in Pennsylvania, at $3.7 million video game terminal income was 3.0% higher.  But revenue from fantasy sports dropped 5.2% to $1.2 million in May.

 For the month, total tax income collected from all kinds of gaming came to $216.3m.