Pennsylvania’s iGaming Industry Surpasses $170 Million in May Revenue

As reported by PlayPennsylvania, on June 20, the Pennsylvania Gaming Control Board (PGCB) officially uveiled the profit figures for Pennsylvania online casinos for May, which showed that online casino operators in Pennsylvania accumulated $170.4 million in May revenue. However, this income was ranked as the second-best online casino revenue total in the state’s history.

Best online casino market in USA:

Pennsylvania saw revenue in excess of $160 million for the sixth consecutive month, and for the the second time in three months the state topped $170 million, confirming Pennsylvania’s position as the leading market for online casinos in the US. Additionally, it has broken US iGaming records in four of the last eight months. However, in the other 4 months, it did not break the record, but the revenue figure reached the second highest total amount.

In this regard, PlayPennsylvania Managing Editor, Chris Imperiale, said: “Pennsylvania online casinos totaled $170.4 million in gross revenue in May. This marks the sixth consecutive month with more than $160 million in earnings, reaffirming Pennsylvania’s position as the top market for online casinos within the US, beating out other notable states like Michigan and New Jersey. May finished about $11 million shy of the all-time revenue record, but increased figures almost 25% year over year. It’s possible that the slower sports betting period we’re currently in could drive even more online casino gaming and revenue going forward. Since October, Pennsylvania has broken the US online casino revenue record four times.”

May 2023 Revenue Overview:

During the revenue analysis, online slots generated the highest income at $130 million. The second best is table games income of $37.9 million, followed by online poker income of $2.5 million.

However, this is nothing new as online casinos in Pennsylvania reported a decent income as of October 2022. In this sense, the profit was:

• October 2022: $151.7 million (US iGaming record)
• November 2022: $155.9 million (US iGaming record)
• December 2022: $166.9 million (US iGaming record)
• January 2023: $160.3 million
• February 2023: $162.3 million
• March 2023: $181.5 million (US iGaming record)
• April 2023: $167.2 million
• May 2023: $170.4 million

Additionally, to take a deeper look at Pennsylvania’s online casino profit growth, PA operators accumulated just $136.8 million in profit last May, increasing earnings by 24.6% this May.

Online casino profit stronger than sports wagering:

However, online casino income in Pennsylvania is much stronger than sports wagering. In a down month for PA sportsbooks, online operators accumulated $14.8 million in taxes compared to $53.7 million from online casinos. In addition, online casinos are required to pay nearly $50 million or more in taxes to the government every month.