The Pennsylvania gaming manufacture debuted in 2006, but no more month over the yesteryear 17 years has been richer than Mar 2023 inwards terms of receipts gaming revenue (GGR).
The Keystone State Gaming Control Board (PGCB) reported yesterday that March GGR was just now shy of $515.3 million. The revenue, which includes income from land-based casinos, iGaming, truck stoppage picture gaming terminals (VGTs), sports betting, and fantasy sports, represented an 11% year-over-year increase.
March 2023 broke the state’s previous all-time monthly revenue register of $462.7 million, which was band inward March 2022. The year-over-year difference was most $52.6 million.
The gaming industry inward Pennsylvania has presumption young meaning to “march madness” in the Keystone State, as the month has emerged as a cay time and major revenue author for the tell gaming industry. But Mar 2023 was the first-class honours degree time ever that GGR inwards the commonwealth exceeded half of a billion dollars.
March Madness
Slot machines at the state’s 17 brick-and-mortar casinos kept $225.4 zillion of the coin in, spell retail tabularise games generated about $85.8 million. Slot win was upward 5%, but tabularize win was downwardly almost 9%.
Online is where the mass of the gaming revenue increases were earned cobbler's last month.
iGaming expansion slot revenue surged 32% to $104.8 million. Interactive tabularise games kept nigh $40.5 trillion of the net bets placed — a 13% improvement. Online poker profligate added virtually $2.9 zillion for a combined online drag of some $148.2 million.
Sportsbooks also fared swell on the to a greater extent commonly implied “March Madness” meaning. The NCAA men’s college basketball game tournament saw many favorites lose, causation oddsmakers to win big.
Pennsylvania sportsbooks kept $50.6 jillion of the $723.5 trillion wagered — aka handle. Oddsmakers won 67% more — or about $20.2 trillion — than they did inward Mar 2022. The vast legal age of the sports betting came online, as cyberspace sportsbooks accounted for $45.7 million of the hold.
Interest inwards the college basketball game postseason was heightened in Pennsylvania with the William Penn State Nittany Lions’ surprising go through the Big Ten tournament and the team’s world-class NCAA March Madness coming into court inward 12 years.
Penn Dominating Home Turf
Penn Entertainment is the oldest gaming manipulator inwards Pennsylvania. The companionship traces its roots plump for to the ahead of time 1980s when it was founded as William Penn National Race Course Corporation. PNRC Corp. would later go William Penn National Gaming, which was the individuality of the organization until its rebranding lowest twelvemonth to William Penn Entertainment.
Penn Entertainment operates quaternity casinos in the land — Hollywood Casino at William Penn National Race Course, Hollywood Casino at the Meadows, Hollywood Casino York, and Hollywood Casino Morgantown.
Hollywood Penn National was the top of the inning wage earner cobbler's last month among the state’s 17 casinos, as the holding and its online partners reported GGR of $80.8 million. Hollywood Casino at the Meadows generated gaming income of $31.2 million, Hollywood Casino Morgantown won virtually $9.5 million, and Hollywood York took nearly $9.4 jillion away of players.
In total, Penn Entertainment casinos in Pennsylvania generated GGR of some $130.9 trillion inward Mar 2023.
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