The state of Pennsylvania is one of the biggest markets when it comes to online casino gambling, and those casinos just continue to impress. During the month of January, online casinos in the state posted a total gross revenue of $189.3 million.
The entire gaming industry posted a total win of $588 million last month, easily setting a new record for the state. That eclipses the previous record by nearly 6%, and it could set the stage for an even bigger months throughout the rest of the year.
While the total gaming revenue only went up six percent, the online casino revenue was up 15% from the January 2023 mark. It appears as if things have settled down online after a slow summer, and those casinos will continue to attract new business.
Sports betting was another industry that performed extremely well in January, and much of that action comes from online. That revenue total was up nearly 40%, and most of the sports betting action in the state continues to be done online.
Pennsylvania does continue to fall further and further behind some of the top online sports betting markets, but the rest of the gambling industries are making up for it.
Expectations Have Been Set
The online casino revenue in January was actually down from the massive number set in December, but there were a number of reasons for that. Still, it seems pretty clear that there is a a new expectation of where the online casino revenue should fall each month.
The total revenue has now been over $180 million for five straight months, and that has happened without much growth in terms of the number of options. It’s going to be hard to continue that streak in February with it being a shorter month, but things should bounce back in March.
Pennsylvania online casinos are in a tight competition with those from Michigan and New Jersey to post the highest monthly and yearly revenue. Michigan was the leader in 2023, but this strong start from Pennsylvania will keep the pressure on.
Lifetime Revenue Impressive
With the massive month of January, the total lifetime online casino revenue went over the $6 billion mark, which is impressive considering the launch didn’t even occur until 2019. The total revenue in 2023 was $2.1 billion, and a massive start to the year has online casinos on pace to shatter that mark.
December 2023 is still the only month in which revenue went more than $200 million, but there will be others happening this year. There are now three online casino operators that have earned over $1 billion since 2019, and one is clearly ahead of the pack.
Hollywood Penn National has won $2.24 billion since it first went live, and it is usually on top of the list when the monthly revenue total is announced. Rivers Casino Philadelphia is holding strong in second place, with the Valley Forge Casino trying to keep the pressure on.
