Pennsylvania sports betting revenue drops to $1.9m in February

Figures released by the Pennsylvania Gaming Control Board (PGCB) on Monday indicate that sports betting handle and revenue decreased in February.

According to the PGCB’s figures, a total of $31.5m was bet on sporting events, a $500,000 decrease from January’s handle of $32m.

Sports betting revenue in Pennsylvania also took a hit in February. The state’s six sportsbooks generated a combined revenue of $1.9m, a 36% decrease from January’s $2.6m in revenue. Out of February’s revenue, the state received $700,854 in tax revenue.

Rivers Casino was the highest performing sportsbook in February, taking over $8.1m in bets and generating $627,521 in revenue. In terms of taxation, Rivers contributed $225,908.

SugarHouse Casino was Pennsylvania’s second-highest performing sportsbook accepting over $7m in bets and generating $522,308 in revenue. SugarHouse Casino’s tax contributions amounted to $188,031.

Parx Casino, the third highest performing sportsbook in the state, took $6.9m in bets, generated $369,996 in revenue and paid $133,199 in tax.

The Hollywood Casino at Penn National accepted $3.7m in bets and held on to $13,914. The Hollywood Casino contributed $5,009 in tax

Harrah’s Philadelphia took $2.9m in bets, held onto $137,201 and paid $49,392 in tax.

The South Philadelphia Race and Sportsbook took over $2.6m in bets, generating $275,877 in sports betting revenue for February. The race and sportsbook paid the state $99,316 in tax.

Although sports betting in Pennsylvania launched just four months ago in December, the PGCB’s figures are already highlighting the impact of the state’s 36% tax rate.

The figures do not include the sports betting operations at Valley Forge Casino Resort and Valley Forge Race and Sportsbook. As both of these facilities launched sports betting operations in March, they will be included in future PGCB reports.

The state of Pennsylvania has yet to launch mobile and online sports betting operations but once it does, we are likely to see a significant increase in the amount bet on sports in Pennsylvania.

For an in-depth look at each state’s sports betting statistics check out our stats page.

 

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