The Pennsylvania Gaming Control Board (PGCB) has released its October 2024 revenue report, showcasing a total gaming revenue of $496.6 million, marking a 2.81% year-on-year increase. While digital formats like iGaming and online sports betting demonstrated robust performance, the results across retail gaming sectors were mixed.

Pennsylvania Gaming Control Board Reports $496.6M in Total Gaming Revenue for October 2024

Retail Slot Machines Lead Revenue Generation with $200.6 Million

Retail slot machines continued to dominate as the largest revenue contributor, generating $200.6 million in October, reflecting a 4.21% growth compared to the same period in 2023. This segment’s strong performance highlights its enduring popularity among gaming enthusiasts.

Top Performers in Retail Slots

• Parx Casino led the market with $31.3 million in revenue, representing a 3.38% increase year-on-year.
• Wind Creek Bethlehem followed closely, reporting $23.4 million, a notable 7.65% growth compared to the previous year.
• In contrast, Hollywood Casino at Penn National Race Course experienced a significant 8.61% decline, with its revenue dropping to $10.4 million.

iGaming Experiences Double-Digit Growth with $189 Million in Revenue

The iGaming sector demonstrated impressive growth, contributing $189 million to the total gaming revenue, a 22.10% year-on-year increase. This rapid expansion underscores the growing popularity of digital gaming formats in Pennsylvania.

Breakdown of iGaming Revenue

• iGaming Slots: Revenue reached $140.9 million, a remarkable 28.26% increase compared to October 2023.
• Table Games Online: This segment generated $45.9 million, showing a 7.76% growth year-on-year.

Top iGaming Performers

• Hollywood Casino at Penn National Race Course led the online gaming category, with revenue of $69.4 million, a 11.63% increase compared to 2023.
• Valley Forge Casino Resort posted an outstanding performance, reporting $51.9 million, a staggering 46.63% growth year-on-year.

Revenue Declines in Traditional Table Games

Despite the overall positive trends, revenue from traditional table games experienced a 9.28% decline, totaling $73.9 million in October 2024.

Performance of Key Contributors

• Wind Creek Bethlehem generated $18.1 million, marking an 11.1% drop from the previous year.
• Parx Casino followed with $14.7 million, recording a significant 13.85% decrease.

These declines highlight the challenges facing traditional gaming formats as digital platforms continue to gain traction.

Sports Wagering Revenue Sees a Sharp Decline Despite Growth in Handle

The sports wagering segment faced challenges in October, with taxable revenue dropping by 43.15%, amounting to $27.4 million. While the total handle increased slightly to $858.1 million (a 3.52% growth), lower win margins contributed to the revenue contraction.

Top Sports Wagering Performers

• Valley Forge Casino Resort remained the leading operator in this segment, generating $17.3 million despite a 4.78% decline in taxable revenue.

This performance reflects a highly competitive sports betting market where win margins can significantly influence outcomes.

Key Insights from Pennsylvania’s October 2024 Gaming Revenue

1. Digital Dominance: The strong growth in iGaming and online slots highlights the increasing preference for digital gaming formats.
2. Retail Stability: While retail slots saw steady growth, other segments like table games faced revenue challenges, signaling shifts in consumer behavior.
3. Sports Betting Challenges: The decline in sports wagering revenue, despite an increase in handle, underscores the importance of strategic adjustments in this competitive market.

The Future of Gaming in Pennsylvania

The October 2024 revenue report underscores the dynamic nature of Pennsylvania’s gaming industry. With digital platforms leading the charge and retail formats continuing to adapt, the state remains a crucial hub for innovation and growth in the gaming sector. As operators focus on enhancing customer experiences and optimizing offerings, Pennsylvania’s gaming market is well-positioned for sustained success.

FAQs About Pennsylvania’s October 2024 Gaming Revenue Report

1. What is the total gaming revenue reported by the PGCB for October 2024?

The Pennsylvania Gaming Control Board (PGCB) reported a total gaming revenue of $496.6 million for October 2024, reflecting a 2.81% year-on-year increase.

2. Which segment contributed the most to October 2024’s gaming revenue?

Retail slot machines generated the largest amount, $200.6 million, a 4.21% increase compared to October 2023.

3. How did top-performing casinos fare in the retail slots segment?

• Parx Casino led with $31.3 million in revenue, growing 3.38% year-on-year.
• Wind Creek Bethlehem reported $23.4 million, a 7.65% increase.
• Hollywood Casino at Penn National Race Course, however, saw an 8.61% decline, bringing in $10.4 million.

4. How did iGaming perform in October 2024?

iGaming saw robust growth, contributing $189 million to total revenue, a 22.10% increase year-on-year. This includes:

• iGaming Slots: $140.9 million (+28.26%).
• Online Table Games: $45.9 million (+7.76%).

5. Which casinos led the iGaming segment?

• Hollywood Casino at Penn National Race Course topped the iGaming category with $69.4 million (+11.63%).
• Valley Forge Casino Resort followed with $51.9 million, an impressive 46.63% increase.

6. What was the performance of traditional table games in October 2024?

Revenue from traditional table games declined by 9.28%, totaling $73.9 million.

• Wind Creek Bethlehem earned $18.1 million, a 11.1% decrease.
• Parx Casino reported $14.7 million, a drop of 13.85%.

7. How did the sports wagering segment perform?

Sports wagering taxable revenue declined sharply by 43.15%, totaling $27.4 million, despite a 3.52% increase in the total handle to $858.1 million.

8. Which casino led the sports wagering market?

Valley Forge Casino Resort maintained its lead in the sports wagering market with $17.3 million in revenue, though it recorded a 4.78% decrease compared to the previous year.

9. What are the key trends highlighted in the October 2024 report?

• Digital Growth: iGaming and online slots are driving strong growth.
• Retail Mixed Results: Retail slots performed well, but table games faced challenges.
• Sports Betting Challenges: Declining win margins impacted sports wagering revenue despite a growing handle.