Pennsylvania sets unprecedented records in iGaming earnings
In a significant development for the online gaming industry in Pennsylvania, the Pennsylvania Gaming Control Board (PGCB) has announced record-breaking revenue for Pennsylvania online casinos in the 2023/2024 fiscal year.
According to the press release, the revenue generated by online casinos during this period has reached a staggering near $2 billion. This represents a substantial increase from the previous year, where the revenue stood at around $1.5 billion.
One of the key players in this growth is Mohegan Pennsylvania, which saw a 25.46% dip in revenue for the current fiscal year. This dip could potentially be attributed to the switch from Unibet to Play.MoheganPAcasino.com, a change that could have impacted its annual performance. However, next year's figures will provide a more accurate picture of Mohegan Pennsylvania's online performance after the switch to a new platform.
Despite Mohegan Pennsylvania's dip, the overall revenue for iGaming in the 2022/2023 period showed a 27.16% increase. This growth was echoed by other casinos in the state, with Hollywood Casino at Penn National Racecourse generating the highest revenue among online casinos, with just over $750 million and a 15.89% increase compared to the previous year.
Valley Forge Casino Resort followed closely behind, generating just under $500 million in revenue, with a 55.99% growth compared to the previous year. Harrah's Philadelphia registered a remarkable 103.66% increase in revenue, bringing in just over $100 million, after seeing a significantly more modest $50 million in the 2022/23 period. Mount Airy Casino Resort, on the other hand, registered an 18.48% dip in revenue for the current fiscal year.
Ramona Depares, a seasoned journalist with over 15 years of experience, has been closely following these developments. Depares specializes in entertainment, lifestyle, and online gaming news, and has a keen eye for staying ahead of online casino and sports betting trends. In her previous role, she was the head of media for a major organizer of gaming conferences.
The growth in Pennsylvania's online gaming industry is a testament to the state's commitment to innovation and its ability to adapt to changing consumer preferences. As the industry continues to evolve, it will be interesting to see how these trends unfold in the coming years.
