Pennsylvania’s gaming industry achieved unprecedented success in 2023, breaking revenue records and experiencing phenomenal growth. The Pennsylvania Gaming Control Board (PGCB) recently released its year-end report, showcasing the remarkable achievements across all sectors of the industry.
Pennsylvania demonstrated impressive growth, with $5.7 billion in gaming revenue. The primary driver behind this performance is iGaming, with online slot machines and table games contributing significantly to the record-breaking figures. In 2023 alone, Pennsylvania’s online gamblers lost $1.74 billion, a 28% increase from the previous year.
The journey towards Pennsylvania’s rise as a gaming powerhouse began in 2017 with the legalization of iGaming. Once online operations went live in late 2019, the industry gained momentum and has been flourishing ever since. In its first full year in 2020, Pennsylvania’s online casinos generated over $565.7 million, setting the stage for even greater success in the future.
While iGaming revenue surged, land-based casinos in Pennsylvania also enjoyed substantial growth. The 2023 casino win reached $990.5 million, a slight 2% drop compared to the previous year. Parx Casino emerged as the top-grossing casino in Pennsylvania, generating $588.2 million, followed by Wind Creek Bethlehem with a gross gaming revenue of $526.3 million.
Sports betting in Pennsylvania witnessed a 14% surge in 2023, reaching a record hold of $458.6 million. This increase solidified the state’s position as a leading destination for both online gambling and traditional sports betting.
Penn Entertainment’s Hollywood Casino online brand played a significant role in driving iGaming revenue, leading the way with $712.4 million. Penn Entertainment now holds a dominant 41% market share of the iGaming industry in Pennsylvania, establishing itself as a key player in the state’s gaming landscape.
Although revenue from video gaming terminals (VGT) experienced a slight decline of 2% to $42 million in 2023, the combined revenues from iGaming and land-based casinos far outweighed these losses.
Pennsylvania briefly surpassed New Jersey as the second-richest gaming state in 2022, only to relinquish this position in 2023. However, Pennsylvania’s growth and record-breaking numbers ensure its continued prominence in the gaming industry.
Despite the challenges posed by the COVID-19 pandemic, Pennsylvania’s gaming sector remained resilient. The 2023 casino win represented a 7% surge in gross gaming revenue (GGR) compared to 2021 and a 5% increase compared to pre-pandemic 2019. This resilience demonstrates the industry’s ability to adapt and thrive even during challenging times.
As the year came to a close, the Pennsylvania Gaming Control Board (PGCB) published its year-end report on gaming revenue, highlighting the industry’s remarkable achievements. These figures underscore the state’s commitment to providing a diverse and exciting gaming experience for residents and visitors alike.
Pennsylvania’s gaming industry has made a lasting impact, shattering records and surpassing all expectations. With online gambling and land-based casinos working in harmony, the future looks promising for this thriving sector. As the state continues to innovate and adapt to changing trends, the possibilities for growth and success are limitless. Pennsylvania has solidified its position as a formidable force in the gaming world, and the journey is far from over.