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Gambling in the USA

Pennsylvania Online Casino Revenue Sees Drop in Early Q1 Results

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Pennsylvania Online Casino Revenue Sees Drop in Early Q1 Results
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2020 was a challenging year for the gambling industry due to the impact of the coronavirus pandemic. Gambling revenue in Pennsylvania dropped by 20%. The PA gambling industry has been trying to resurface after the 2020 dip.

January

The Pennsylvania online gambling market began 2021 on the right footing with a new monthly record of $80.4 million in revenue recorded in January. That marked seven consecutive months of high revenue records.

The monthly revenue witnessed in January was an 11% increase from the $71.6 million recorded in December 2020. The numbers are even crazier when compared to January 2020, when the PA online gambling industry generated under $14 million in revenue.

The collective total revenue collected from all forms of gambling in PA, including fantasy contests, witnessed a 2.73% increase in January, hitting $311.1 million. Online slots were the major contributor to the PA gambling revenue with $51million. That was a 609% upsurge compared to January 2020. Online table games followed with $26.7 million in revenue, a 479% increase. Online poker was third with $2.7 million, a 26.35% increase.

Revenue wise, the top performer in January was Penn National Gaming’s Hollywood Casino which managed to collect $44.6 million in revenue. Valley Forge Casino bagged $38 million, and Rush Street Interactive followed closely with about $36.9 million collected in January.

February

Following the strong start of the PA iGaming industry, even the best Pennsylvania online casinos, as listed at online-casinos.com, witnessed a slight drop in revenue in the month of February. The drop was entirely due to the impact of the covid-19 pandemic.

According to the Pennsylvania Gaming Control Board, gambling revenue collected across the state in the month of February amounted to $301.9 million, which was a $2.36 million (1%) decreased compared to February 2020.

Revenue from Online Table games and slots dropped by 26% and 27%, respectively. That translates to $20 million less in table game revenues and $53.8 million less in online slots revenue when compared to February 2020.

Every online casino in the state witnessed a drop in slots revenues in February. Only one casino in the entire state, Mount Airy Casino Resort, recorded an increase in online table games revenue by $286,610 in comparison to last year.

Meadows Racetrack and Casino saw a $5.9 million decrease in slots revenue and a $1.1 million dip in table game revenue. Rivers Casino saw a greater impact of $10.1 million in lost revenue for slots and $2.9 million losses in table games revenue. Lady Luck Casino Nemacolin also witnessed a decline, recording $65,570 less in-table game revenues and $1.3 million less in slots revenue.

Most of the impacts felt by land-based casinos were offset by the covid-19 prevention measure of social distancing, leading to low casino traffic. This has, however, resulted in growing popularity in iGaming, sports betting, and video gaming terminals.

March

iGaming poker revenue in PA dropped by 23% to $2.4 million in March. Of the five months where year-over-year comparisons were possible, March was the first to witness a decline. However, the dip does not come as a surprise. It’s now lapping one month of an increase in interest in online gambling following the impacts of covid-19 infections reported in Pennsylvania. In March 2020, online poker revenues surged by over 70% to $3.1 million.

Other verticals did not have an issue going up against the rough annual comparatives. As a matter of fact, online casino revenue exploded in March to $95.3 million – double the revenue collected in March 2020. Online slot machines recorded $66million in revenue, while online table games saw a growth of $20 million from $8.8 million in March last year to $28.8 million this year.

Online sports betting revenue is also showing a strong return. As of March, it was at $37.7 million, up by $7.5 million from February and about five-fold compared to March 2020. Online bookmakers contributed 92% of the total revenue collected from the sportsbook market.

The Revival of Online Gambling Revenue

With most players stuck at home; the popularity of online casinos has surged significantly. Statistics show that online slots revenue increased by $40.9 million, online poker by over $689,700, and online table games revenue surged by $16.6 million in the month of March. Revenues collected from video Big list of game genres gaming terminals increased by $1.17 million compared to last year.

According to the Pennsylvania Gaming Control Board, sports betting revenue grew by $11.6 million compared to last year. Out of the total $16.3 million collected in sports wagering revenue, $13.4 million came from online bets and only $2.9 million was generated in land-based sportsbooks. Rivers Pittsburg and Meadows saw a $57,380 and $2 million increase in sports betting revenue, respectively.

Despite the growth in online iGaming revenue, local casinos in the state witnessed an overall decrease in revenues in the first quarter of 2021 compared to the same period last year. Rivers Pittsburgh recorded a $13 million drop, Meadows a $5 million decrease in revenues, and Lady Luck Nemacolin a $1.4 million drop.

After being forced to close their doors twice last year in response to covid-19, casinos in the state have been trying to recoup. Collectively, casinos in PA saw a drop of $759 million Fgp Games in 2020 when compared to revenue collected in 2019.

PA Gambling Market Analysis

One key trend in the Pennsylvania iGaming market is that table games are gradually outpacing slots. Revenue collected from table games exceeds that collected from slot machines in both online and land-based casinos. Monthly revenue growth has been favoring table games since July 2020.

January 2021 was not exceptional. Gamblers in PA wagered $1.55 billion at table games and $1.4 billion on slot machines. Table games contributed 34% of the total casino revenue, and their contribution surged 17.9% compared to slots’ 10.3%.

At Rivers Pittsburgh, table game revenue increased by 30.8% in January 2021 while slots grew by 3.7%. Slots are taxed almost triple the rate of taxing other gambling verticals in PA. The high taxes levied on slots revenue is one of the factors underlying this trend.

 

Gambling in the USA

Gaming Americas Weekly Roundup – November 11-17

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Golden Entertainment Inc. reported financial results for the third quarter ended September 30. The Company reported third quarter revenue of $161.2 million, net income of $5.2 million and Adjusted EBITDA of $34.0 million. In addition, on November 5, the Company’s Board of Directors authorised the Company’s recurring quarterly cash dividend of $0.25 per share of the Company’s outstanding common stock payable on January 7, 2025 to shareholders of record as of December 20, 2024.

Snoqualmie Casino has announced its rebranding to Snoqualmie Casino & Hotel, reflecting an exciting new chapter in the venue’s history as it embarks on a much-anticipated expansion. Set for completion in mid-2025, this project promises to elevate the guest experience, making Snoqualmie Casino & Hotel a premier destination for entertainment, relaxation and culinary excellence. The cornerstone of the expansion is the construction of a luxurious hotel, which will offer guests unparalleled comfort and stunning views of the Snoqualmie Valley and Mount Si.

Galaxy Gaming Inc., the world’s largest independent developer and distributor of casino table games and technology announced, at a special meeting of its stockholders held on November 12, 2024 (the Special Meeting), Galaxy Gaming stockholders voted to approve the Company’s acquisition by Evolution Malta Holding Limited (Evolution), Evolution AB (publ)’s wholly owned subsidiary. Galaxy Gaming will file a Form 8-K with the U.S. Securities and Exchange Commission reporting the final voting results of the Special Meeting.

Caesars Virginia has announced that its highly anticipated opening date will be Thursday, Dec. 12, 2024. The resort will welcome its first guests beginning at noon. Additional details on the opening festivities will be announced at a later date. Caesars Virginia is a 587,000 square foot casino resort with more than 90,000 square feet of gaming space.

Partnerships

NGX has entered into a strategic partnership with Sportradar, a global leader in sports integrity solutions, which collaborates with more than 180 sports federations and leagues. The agreement aims to support the Brazilian football federations of Rio Grande do Sul, Paraná and Pará, providing detailed reports to ensure the integrity of sporting events and combat fraud.

EvenBet Gaming has announced the launch of its advanced poker solutions in partnership with JugaMax, one of the largest and most respected casino operators in Paraguay. This strategic collaboration marks EvenBet’s debut in the Paraguayan iGaming market, solidifying the company’s expansion within Latin America. The newly established partnership enables the integration of EvenBet Gaming’s poker offering on the JugaMax platform.

Jackpocket, the leading lottery app in the US, and Barstool Sports announced a new collaboration naming Jackpocket as the “Exclusive & Official Digital Lottery Partner of Barstool Sports”. The deal with Barstool follows Jackpocket’s parent company, DraftKings, announcing a similar agreement with the media company in February 2024. This collaboration centers around the integration of Jackpocket in Barstool’s content. Fans can participate in the lottery alongside some of Barstool’s biggest names such as Dave Portnoy, Big Cat & PFT from Pardon My Take – the leading sports podcast in America, Wallo & Gillie from Million Dollaz Worth of Game and more.

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Gambling in the USA

Gaming Americas Weekly Roundup – November 4-10

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

PENN Entertainment and ESPN announced that account linking between ESPN BET and ESPN is now available for customers, creating an even more deeply integrated media and betting experience. By linking accounts, fans now have the ability to seamlessly track upcoming, live and settled bets within the ESPN app and on ESPN.com. With this product enhancement, ESPN BET will soon bring fans more personalised bets and timely promotions based on their favourite sports, teams, players and fantasy rosters.

Accel Entertainment Inc. has announced that it has completed the acquisition of 85% of the ownership interests of Toucan Gaming LLC and LSM Gaming LLC, two Louisiana-based route operators and owners of multiple licensed video poker establishments (collectively, “Toucan”), for approximately $40 million. The combined business will operate as Toucan Gaming throughout Louisiana and will be led by Stan Guidroz, an industry-leading gaming executive and current CEO of Toucan Gaming. Mr. Guidroz owns the remaining 15% of Toucan’s ownership interests and will lead the Accel team supporting Toucan’s continued growth.

INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT, its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalisation of the existing land-based network. The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.

BetMGM Poker has become the third US operator to offer multi-state online poker. The company has merged its player pools in Michigan and New Jersey. Both states are a part of the Multi-State Internet Gaming Agreement, which allows online poker networks to share liquidity and players in participating markets. The two-state network went live Wednesday afternoon after morning maintenance.

Betsson Group has celebrated its success at the SBC Awards Latinoamérica 2024, winning two prestigious awards: Sportsbook Operator of the Year and Leader of the Year, which was awarded to Kevin Saliba, Commercial Director (Business Development) for Latin America. This marks the second consecutive year Betsson has earned the Leader of the Year accolade, following Andrea Rossi’s win in 2023 – an achievement that underscores Betsson’s consistent leadership in the region.

Partnerships

Play’n GO has announced a new operator partnership with renowned gaming brand Hard Rock Digital for their top-rated Hard Rock Bet online casino platform in New Jersey. The Hard Rock brand is synonymous with entertainment worldwide, and this partnership will see Hard Rock Bet players in New Jersey gain access to hit Play’n GO titles such as Piggy Blitz, Book of Dead and Rise of Olympus 100.

SCCG Management, a global leader in gaming innovation and advisory, has announced a strategic partnership with Chata.AI, a technology provider specialising in self-service, proactive analytics that enables businesses to access real-time insights without requiring extensive technical expertise. This partnership introduces Chata.AI’s technology to the gaming industry, providing operators with powerful tools to streamline decision-making and increase operational efficiency.

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Gambling in the USA

Gaming Americas Weekly Roundup – October 28-November 3

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Elray Resources Inc. has announced a significant milestone in the company’s growth strategy. The company has completed the sale of proprietary technology to 180 Life Sciences Corp. (NASDAQ:ATNF), a NASDAQ-listed company in exchange for preferred stock convertible into a 40% stake in ATNF and warrants to purchase 3 million shares of ATNF common stock, the conversion/exercise of which is subject to stockholder approval. The technology stack contained within Elray’s technology package will assist ATNF in launching an iGaming Blockchain casino.

PrizePicks, the largest daily fantasy sports operator in North America, has announced that it has been awarded Daily Fantasy Sports Operator Licenses in Delaware and Missouri. The company will launch Arena, its innovative peer-to-peer fantasy sports contest, in both states. With these new state launches, Arena will now be available in 15 states across the US.

The Pennsylvania Gaming Control Board (Board) unanimously voted to renew the Category 2 stand-alone casino license of Wind Creek Bethlehem LLC, operator of Wind Creek Bethlehem casino in Northampton County. In making the decision, the Board determined that Wind Creek Bethlehem LLC had fulfilled the obligations under its previously approved casino operator’s license and therefore qualified to have its license renewed for an additional five-year period.

Aristocrat announced that the company was the first international slot and online technology company to be granted a Gaming-Related Vendor license by The General Commercial Gaming Regulatory Authority (GCGRA), the federal entity overseeing commercial gaming activities in the United Arab Emirates (UAE). This announcement grants Aristocrat the ability to provide the company’s land-based electronic gaming machines (EGMs) and online games and technology solutions to commercial gaming operators licensed by the GCGRA.

Partnerships

SCCG Management, a leading global advisory and consulting firm in the gambling industry, has entered into a strategic partnership with Slot Machines Unlimited, a premier provider of refurbished slot machines and gaming equipment. The partnership between SCCG Management and Slot Machines Unlimited leverages both companies’ strengths: Slot Machines Unlimited’s expertise in refurbished gaming equipment and SCCG’s deep industry insight, global network and strategic growth capabilities. The collaboration will enhance Slot Machines Unlimited’s international sales and service operations, ensuring gaming establishments worldwide have access to high-quality slot machines and support.

Galaxy Gaming Inc. has announced that the Galaxy Operating System (GOS) is now live on over 50 ships worldwide with Carnival Corporation & PLC, the world’s largest leisure travel company. Since the installation, tables powered by GOS have awarded over $5 million in jackpot payouts to players. GOS is the jackpot progressive system for all Carnival Corporation ships, including Carnival Cruise Line, Holland America Line and Princess Cruises. Launched in 2024, GOS is the next-generation game management system developed by the industry’s leading table game experts.

The hottest new game from Aristocrat Gaming, Phoenix Link, is now live on casino floors, with Yaamava’ Resort & Casino being the first in North America to offer the highly-anticipated game. As the next evolution of the international hit game, Dragon Link, Phoenix Link features player-favourite mechanics from top games with all-new themes, features and bonuses.

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