Pennsylvania Gambling Revenue Hits All-Time High on Record Sports Betting Performance

Pennsylvania’s gambling market reached an all-time revenue high of $623.1 million in November 2024, surpassing the previous record set in May 2024 by 3.5%. The performance represented a 10.8% increase compared to November 2023 and exceeded October 2024 figures by 4.4%.

Data released by the Pennsylvania Gaming Control Board showed growth across multiple verticals, with sports betting and iGaming both delivering strong results. The land-based casino sector experienced slight declines during the reporting period.

Record-Breaking Sports Betting Performance

Sports betting revenue reached an all-time high of $98.3 million in November, surpassing the previous record of $77.1 million from November 2023 by 27.6%. The monthly total represented a 61.9% increase over October 2024. Online betting generated $92.4 million in revenue, while retail sportsbooks contributed $5.9 million.

Total handle for the month reached $990.6 million, marking a 2.3% increase over the previous record set in October and 5.9% growth compared to November 2023. Online wagering accounted for $946.6 million of the total, with retail locations processing $44 million in bets.

The state’s overall hold percentage for November stood at 9.92%.

FanDuel and Valley Forge Casino Resort reclaimed the top market position after finishing second in October. The partnership generated $58.4 million in revenue from a handle of $372.9 million, producing a hold percentage of 11.85%.

DraftKings and Hollywood Casino at the Meadows placed second with $28.1 million in revenue from $299.8 million in wagers, achieving a 9.37% hold. Hollywood Casino York and Fanatics Sportsbook finished third with $5.7 million in revenue from $62.2 million in handle, recording a 9.16% hold.

iGaming Approaches Revenue Record

iGaming revenue totaled $242.7 million for the month, representing a 21.1% increase over November 2023. The figure fell 3.4% short of October’s all-time high of $251.1 million.

Online slots revenue increased 24.7% to $185.4 million, while internet table games revenue rose 11.1% to $55.1 million. Online poker revenue decreased slightly to $2.3 million.

Hollywood Casino at Penn National Race Course and its online gaming partners maintained market leadership with $91.3 million in revenue. Valley Forge Casino Resort and partners generated $70.9 million, placing second, while Rivers Casino Philadelphia finished third with $38.2 million.

Land-Based Casino Results

Land-based slots remained the largest single revenue source at $201.2 million, though this represented a 0.1% decrease compared to the previous year. Retail table games revenue declined 3.6% to $74.7 million.

Video game terminal revenue at truck stop locations increased 8.9% to $3.5 million. Fantasy sports revenue grew 2.8% to $2.5 million.

The state collected $260.9 million in tax revenue during November. Sports betting contributed $35.4 million, iGaming generated $109.3 million, land-based slots provided $101.4 million, and retail table games accounted for $12.6 million.

Source: iGaming Business