The United States Igaming Revenue Report – February 2020

March 31, 2020 12:00 PM
  • Deke Castleman, CDC Gaming Reports
March 31, 2020 12:00 PM
  • Deke Castleman, CDC Gaming Reports

An overview of igaming revenue in Pennsylvania, New Jersey, and Delaware, the three states where igaming has launched in the US.

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Pennsylvania

Pennsylvania’s igaming revenues hit $19.49 million in February 2020, nearly 40 percent more than January’s $13.96 million, with two fewer days in the month.

The revenues from online slots vastly outpaced table games at six of the seven online casinos, though at Valley Forge, table-game play revenue of $4.82 million exceeded slot play revenue of $1.2 million by 74.4 percent. Thus, statewide, slots revenue ended up at only 16.7 percent more than table revenue, with $9.63 million at the slots and $8.03 million at the tables. Excluding Valley Forge, the statewide slot revenue was 62 percent more than table revenue (approximately $8.4 million for slots and $3.2 million for tables).

Overall, the igaming revenue of $19.49 million from the seven casinos that offer igaming accounted for 6.4 percent of the total $304.35 million in revenues Pennsylvania’s twelve casinos brought in.

In terms of tax-generated revenues for the state, igaming generated $6.78 million, only 5.4 percent of the total $125 million from all forms of gambling, which includes sports betting, video terminals, and fantasy.

New Jersey

Pennsylvania’s igaming revenue is dwarfed by New Jersey, which recorded an online-gambling win, including poker, of just under $51.9 million, nearly three times as much as that of its big neighbor to the west and a little more than $3 million less than of January’s $55.1 million.

The Golden Nugget remained the largest contributor to igaming revenue with $19.78 million, higher than the brick and mortar casino’s revenue of $16.12 million. The $19.78 million represents an 85% increase compared with the $10.70 million the online casino brought in for February 2019.

Online gambling accounted for 18.1 percent of New Jersey’s total gambling win for February of $287.3 million. Year-to-date, igaming’s percentage of total gaming revenue holds true at 18.2 percent.

Igaming and online poker accounted for $7.8 million in taxes to the state.

January 2020’s igaming win of $55 million set a monthly revenue record for New Jersey. The first two months of 2020 of Internet-casino revenues are nearly 88% of revenues earned in 12 months of 2014, the first full year of igaming in the Garden State.

Delaware

Completing the igaming Mid-Atlantic-state triangle, Delaware posted an online-gambling win for February of $325k on $9.9 million in wagers (a 3.2% hold). Delaware’s online slot win of 211k is in line with Pennsylvania’s at roughly 40 percent of the table-game win of $85k; poker accounted for the other $31k of the total.

National

Total igaming revenue in Pennsylvania, New Jersey, and Delaware (the three states where igaming has launched) was $71.7 million.

States with the potential to launch igaming in 2020 include Michigan and Colorado (casino games, poker, sports betting), Montana (casino games, sports betting), and Illinois, North Carolina, and Tennessee (sports betting).