Pennsylvania’s gaming industry continued its ascent with $557.7 million in combined revenue during July, including a 5.2 percent increase in gross sports betting revenue ($40.6 million).
The uptick in revenue total came despite a 0.5 percent year-over-year decrease in sports betting handle amid the “dead season” of sports.
Key Takeaways
- PA sportsbooks increased their revenue totals despite losing 0.5 percent of their handle YoY.
- FanDuel and DraftKings dominated commercial sportsbook operators.
- eSports betting is getting support from PA lawmakers.
The Pennsylvania Gaming Control Board confirmed the newest batch of figures in its monthly revenue report, which was headlined by a 30.9 percent year-over-year growth in iGaming.
Pennsylvania sports betting experienced a 71.4 percent YoY increase in taxable revenue during June, reaching $51.2 million for the period. July’s figures were much more modest but still continued the trend of outperforming the previous year’s marks.
Pennsylvania received $13.8 million from sportsbook taxes based on the state’s 36 percent tax standard. $12.9 million of that came from online sportsbooks, which represented 95.2 percent of the total sports betting handle ($412.5 million) and 93.4 percent of total taxable sports betting revenue.
The totals were based on Pennsylvania’s 11 online and 13 retail sportsbooks, all of which are responsible for paying the 36 percent tax rate. Two percent of those funds ($811,575) are allocated to local municipalities.
Breaking down the figures
| Operator | July Handle | Taxable Revenue |
|---|---|---|
| FanDuel | $145.9 million | $16.5 million |
| DraftKings | $112.3 million | $11.3 million |
| BetMGM | $33.3 million | $2.1 million |
| Fanatics | $28.4 million | $2.7 million |
| BetRivers | $23.3 million | $2.2 million |
| ESPN Bet | $18.7 million | $1.7 million |
| Caesars | $15.4 million | $1.1 million |
FanDuel, which is partnered with Valley Forge and Live! Casino Philadelphia, had the best month of any operator, reporting a $145.9 million handle and $16.5 million in revenue.
DraftKings, tethered to Hollywood Casino at The Meadows, was close behind, with a $112.3 million handle and $11.3 million in revenue.
BetMGM (Hollywood Casino Morgantown) was a distant third, reporting $33.3 million in July handle and $2.1 million in taxable revenue. Fanatics (Hollywood Casino York), which was fourth, had a lower handle ($28.4 million) but more revenue ($2.7 million).
BetRivers (Rivers Casino) also had a lower handle of $23.3 million, but more revenue ($2.2 million).
ESPN Bet (Hollywood Casino at Penn National) was further down the list with $18.7 million in handle and $1.7 million in revenue. Caesars brought up the rear for major operators with a $15.4 million handle and $1.1 million in revenue.
eSports betting coming to PA?
Pennsylvania sportsbooks had a rough start to the year due to the success of the Philadelphia Eagles throughout the playoffs and in Super Bowl LIX. ESPN’s David Purdum reported that they suffered a net loss of $6.5 million on a record $101.5 million worth of wagers.
As the Keystone State continues to excel in sports betting, Rep. Ed Neilson recently reintroduced House Bill 1636, which would legalize esports betting. He first attempted to pass the bill in 2023, though that attempt didn’t gain much momentum.
The state was one of the earliest to embrace sports betting, launching its market just six months after a federal court legalized the pastime in 2018.
