For the first time since gambling was legalized in Pennsylvania in 2004, the Keystone State topped $400 million in gaming revenue for a single month.
According to a report issued Friday by the Pennsylvania Gaming Control Board, revenue generated from all forms of gaming and fantasy contests during March 2021 was $403.1 million, a 162% increase compared to revenue generated in March 2020.
Executive Director Kevin O’Toole of the Gaming Control Board attributed the revenue record to three factors.
“First, March is historically a high revenue month,” O’Toole said via email. “Second, the play of slots and tables in casinos is making a substantial recovery as Covid-related restrictions are loosened and patrons have more comfort returning. Finally, as patrons continue to become more aware of and more familiar with gaming on the internet, we are seeing steady revenue growth in those sectors.”
Pennsylvania casino capacity in March was 50%, but it has since been increased to 75% for April.
The previous monthly record was October 2020, when revenue reached $320.2 million. For the first three months of 2021, combined revenue topped $1 billion for the quarter, the first time that quarterly mark has been reached in Pennsylvania. Revenues in January were $311.1 million, and $301.98 million in February.
Credit Suisse gaming analyst Ben Chalkin said the jump in March gaming revenues showed that any declines the state saw in February were “seasonal.”
Parx Casino in Philadelphia led all Pennsylvania brick-and-mortar casinos in total revenue with $61.5 million, an increase of 134.7% from $26.2 million accumulated in March 2020. Parx also had the most slots revenue, $36.7 million, a 132% increase from the $15.8 million gambled at the casino during the same time period the previous year; and the most table game revenue, $16.6 million compared to $6.8 million in March 2020, a 143.6% jump.
The highest percentage increase in brick-and-mortar casino gaming occurred at Hollywood Casino at Penn National in Grantville, where the $57.2 million brought in was a 358% increase over the $12.5 million accrued in March 2020.
Hollywood Casino also had the most igaming revenue, $33.6 million, with $22.2 million derived from internet slots, and $11.4 million from internet table games.
The total handle for sports betting in March was $560.3 million, down from the $615.2 million wagered in February 2021. Taxable sports betting revenue was $29.4 million, an increase of 326% from $6.9 million in March 2020.
Valley Forge Casino Resort in King of Prussia, which is operated by Las Vegas-based Boyd Gaming, led all casinos in total sports betting handle, $205.9 million, and taxable revenue from sports betting, $9.9 million. The property’s sports betting is operated by FanDuel.
