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Pennsylvania sportsbooks rake in more than $240 million in bets in October
Pennsylvania’s online and retail sportsbooks generated more than $200 million in bets in a single month for the first time, as the state’s bettors increasingly turned online in October. And with DraftKings joining the online market in November, and with hockey, basketball, and football all in season, much bigger months lie ahead, according to analysts for PlayPennsylvania.com.
“Pennsylvania’s online market is finally maturing, and that is certainly the most important reason for the growth in the state’s handle,” said Jessica Welman, sports betting analyst for PlayPennsylvania.com. “The path for more growth is clearer now. A major brand like DraftKings coming online, coupled with intense interest in the Sixers, Flyers, and Penguins, will almost certainly give a boost to the already steady growth we’ve been seeing.”
Pennsylvania’s sportsbooks hit a new high in October by accepting $241.2 million in bets in October, up 24% from September’s $194.5 million handle, according to official data released Monday. Those bets generated $19.1 million in revenue, down slightly from September’s $19.3 million win, leading to an injection of $5.1 million into state coffers.
Pennsylvania’s five online sportsbooks generated $198.7 million in October, representing 82% of the state’s total handle. That puts Pennsylvania in line with New Jersey, where about 85% of all bets originate online.
Pennsylvania bettors have quickly adopted online sports betting — growing from 65% of all bets in July.
“Online betting will unquestionably be the driver to future growth in Pennsylvania,” said Dustin Gouker, lead analyst for PlayPennsylvania.com. “Most encouraging is that Pennsylvania’s online market is still expanding with new brands, including DraftKings. That should only encourage more growth.”
FanDuel Sportsbook at Valley Forge Casino continues to dominate the online market, accepting a record $113.9 million in October bets, up from $85.1 million in September. FanDuel generated $8.1 million in revenue, up from $7.1 million in August. FanDuel was followed in the online market by:
- Rivers-Philadelphia, formerly SugarHouse ($30 million in online handle, down from $31.2 million in September; $2.5 million revenue, down from $2.6 million in September)
- Rivers-Pittsburgh ($26.6 million handle, up from $23.5 million; $1.6 million revenue, down from $1.9 million)
- Parx Casino ($18.4 million handle, up from $13.8 million; $1.7 million revenue, up from $1.8 million)
- Fox Bet at Mount Airy ($9.8 million in online handle, up from $4.5 million; $591,309 revenue, up from $268,844 in revenue)
Rivers-Pittsburgh continued to lead the retail market, accepting $7.7 million in bets in October, up from $7.3 million in September. That yielded $699,611 in revenue, down from $957,791. Rivers was followed by:
- Parx ($7.5 million handle, up from $7.3 million in September; $1 million revenue, down from $1.1 million in September)
- Rivers Philadelphia, formerly SugarHouse ($ 7.2 million handle, up from $6.5 million; $813,839 revenue, down from $1.1 million)
- Valley Forge Casino ($4.1 million handle, up from $3.4 million; $155,730 revenue, up from $376,243)
- Presque Isle ($3.2 million handle, up from $2.2 million; $194,829 revenue, down from $495,548)
- Hollywood Casino at Penn National Race Course ($3 million handle, down from $3.3 million; $350,083 revenue, down from $590,006)
- South Philadelphia Race and Sportsbook ($2.8 million handle, up from $2.3 million; $402,272 revenue, up from $490,153)
- Harrah’s Philadelphia ($2.3 million handle, up from $2.2 million; $277,295 revenue, down from $347,873)
- Mohegan ($2.1 million handle, up from 294,723; $305,697 revenue, up from $74,970)
- Oaks Race and Sportsbook ($1.1 million handle, down from $1.2 million; $162,127 revenue, up from $146,041)
- Mount Airy ($641,087 handle, up from $372,418 handle; $86,800 revenue, up from $45,568 in revenue)
“FanDuel’s grip on the online market could loosen with increased competition from Fox Bet and DraftKings,” Gouker said. “Overall, though, the increased competition will be a benefit to bettors, giving them more choices and spurring product innovation.”
Online casino revenue grows with poker on the way
Pennsylvania’s four online casinos combined to generate $4.9 million in gross revenue in October, up 20% from $4.1 million in September. Online casino wagers grew 42% to $200.2 million, from $140.8 million in September, and generated $1.5 million in state taxes.
Rivers-Philadelphia took the market lead with $2.5 million in revenue on $85.6 million in bets, which was up from $1.1 million in September revenue on $57.3 million in wagers. Rivers-Philadelphia was followed by:
- Penn National ($1.8 million in revenue, even with September; $56.6 million in bets, up from $41.1 million).
- Parx ($610,187 in revenue, down from $1.3 million; $58 million in wagers, up from $42.4 million)
Significantly, PokerStars Casino launched in November, which helped usher in online poker to Pennsylvania. And a fifth online casino, Unibet, also joined the mix.
“The online casino market is rapidly changing, and it should continue to grow,” Welman said. “Online poker is worth watching. It has largely been forgotten in New Jersey, so Pennsylvania could buck that trend if it can sustain interest.”
For more information on the revenue generated by Pennsylvania sports betting, visit www.playpennsylvania.com/revenue.
About the PlayUSA.com Network:
The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches (including PlayNJ.com and PlayPennsylvania.com) produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.
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Fast Track welcomes PolarLotto: taking online lotto in Sweden to new heights
Malta, 28th March 2024 – PolarLotto, a leading provider of lotto betting services in Sweden, has just announced a strategic partnership with Fast Track, a leading provider of CRM solutions designed specifically for the iGaming industry. This collaboration aims to propel PolarLotto’s expansion from offline to online offerings, bringing the excitement of the world’s biggest lotteries to Swedish players in a safe and responsible manner.
PolarLotto prides itself on its commitment to transparent and ethical gaming practices, with a focus on player safety and responsible gaming. By teaming up with Fast Track, PolarLotto aims to leverage cutting-edge technology to expand its business model from traditional to online, ensuring a seamless and engaging experience for its customers.
Commenting on the partnership, Benjamin Burstein, CEO of PolarLotto, expressed enthusiasm about the possibilities ahead, stating, “We are excited to embark on this journey of transforming our business with the latest technology and automation tools provided by Fast Track. As we transition to the online space, we are confident that Fast Track’s expertise in custom segmentation, real-time data capabilities, and personalised experiences will enable us to better serve our players and achieve our business objectives.”
Fast Track also expressed confidence in the partnership, highlighting the potential for exceptional results through its Singularity model, which uses AI and machine learning to deliver tailored content to players, at the right time and through the most effective channel. “We are thrilled to partner with PolarLotto and support their online expansion,” said Simon Lidzén, CEO and co-founder of Fast Track. Our tools are designed to empower lean teams to achieve remarkable results, and we look forward to helping PolarLotto maximise their online presence and engagement.”
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Red Bull Gaming premieres ‘Memories of CS:GO’ documentary highlighting the game’s early years
As the CS2 PGL Major in Copenhagen is set to kick off, Red Bull Media House will unveil a captivating feature-length documentary, “Memories of CS:GO – The Early Years,” an ode to one of the most influential games ever made.
This film takes viewers on an immersive journey through the origins and evolution of Counter-Strike: Global Offensive (CS:GO), featuring personal accounts and defining moments from several of the most legendary figures of the game.
The 90-minute documentary, narrated by Counter-Strike commentator Henry “HenryG” Greer, chronicles the remarkable trajectory of CS:GO, from its grassroots beginnings to becoming a global esports phenomenon.
Produced by Red Bull Media House, the film captures the essence of the game through the eyes of its most well known players, including Olof “olofmeister” Kajbjer Gustafsson, Patrik “f0rest” Lindberg, Richard “shox” Papillon, Gabriel “FalleN” Toledo, and Jarosław “pashaBiceps” Jarząbkowski, among others.
The documentary’s release is timed to precede the playoff stage of the PGL Major Copenhagen, scheduled for March 26, 2024. It will premiere on Red Bull Gaming’s YouTube channel at 21:00 CEST, offering viewers worldwide an insider’s perspective on the beloved game.
Event Details:
- What: Premiere of “Memories of CS:GO – The Early Years”
- When: March 26th, 2024, at 21:00 CEST
- Where to watch: Red Bull Gaming’s Youtube Channel
- The “CS:GO Memories” documentary can be viewed shareit.redbull.com
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Ten Square Games ready for a new development opportunities in 2024
2023 ESPI package
The following documents in pdf format are equivalents of the official Consolidated Financial Statement which were reported in ESPI (download in the zip file above)
2023 Consolidated Financial Statement
2023 Management Board Report on Activities
Independent Auditor’s Report on the Audit of Annual Consolidated Financial Statements
Link to the stream
Link to the chat with individual investors
Presentation
Factsheet
Financial data
Transcription of the conference and Q&A session
For complete press release visit tensquaregames.com
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