Sports activities Betting Income In PA Falls To File Lows; iGaming Robust
Sportsbooks in Pennsylvania had their worst month ever for web income. After paying out bettors and giving out a report $22.6 million in promos, sports activities betting operators mixed for a lack of $442,847. PA sports activities betting apps and retail sportsbooks mixed to take $597 million in bets in February, a 24% month-over-month lower.
Income at PA on-line casinos and poker websites remained robust. Income reached $123.7 million in gross gaming income, a 4.8% drop from final month and up 36.6% from final yr. The shorter month of February resulted in a report $4.4 million in gross gaming income per day for on-line casinos and poker.
February 2022 numbers for Pennsylvania sports activities betting
Figures from the Pennsylvania Gaming Management Board.
- Deal with: $597 million
- Income: $22.1 million/Gross income taxable destructive $442,847
- Maintain: 3.7% (down from 6.7% final month)
- % of bets positioned on-line: 93%
- Promotional credit: $22.6 million
- Month-over-month: Deal with decreased 24.7%; income decreased 58.5%
- Yr-over-year: Deal with jumped 17%; income decreased 33%
- January sports activities betting taxes: destructive (-$150,568.03) to the state and an extra (-$8,856.95) to native entities
- High sports activities betting app by deal with: FanDuel Sportsbook with $213.3 million
- High sports activities betting app by income: FanDuel Sportsbook ($5.9 million)
*Full income breakdown beneath.
February 2022 numbers for on-line casinos and poker in PA
- On-line slots gross income: $68.1 million
- On-line desk video games gross income: $31.4 million
- Poker income: $2.8 million
- $102.4 million in taxable income yielded $42.3 million in state taxes and native assessments
*Full income breakdown beneath.
4 takeaways from PA gaming income in February 2022
Tremendous Bowl can’t carry the month
January had 5 weekends of NFL soccer which resulted in a Pennsylvania state report for deal with. There was just one soccer recreation in February – albeit the most important one. A state-record $68 million was guess on Tremendous Bowl 56. On the time, sportsbooks anticipated income to be about $4.5 million, a big lower from $9.4 million gained from final yr’s large recreation.
Sportbooks gave out plenty of promos throughout NFL season
In February in PA, sportsbooks doled out $22.6 million in promo credit (a state report) in an effort to amass and retain clients. Of the 14 sports activities betting apps within the state, three gave away the vast majority of the freebies to clients in February – DraftKings ($8.3 million), FanDuel ($6 million) and BetMGM ($5.6 million).
Right here’s a take a look at how a lot sportsbooks have given out in promo credit for the reason that NFL season began.
- Sept. 2021: $19.8 million
- Oct. 2021: $18.7 million
- Nov. 2021: $21.2 million
- Dec. 2022: $19.1 million
- Jan. 2022: $21.2 million
Complete gaming income slides for third straight month
Gross gaming income continued a three-month slide. Gross gaming income consists of all types of gaming within the state together with land-based casinos, iGaming, sports activities betting, VGTs and DFS.
- Feb. 2022.: $375.6 million
- January 2022: $393.1 million
- Dec. 2022: $406.3 million
- October 2021: $425.9 million
So, what occurred? Much less busy winter months mixed with the omicron surge.
Barstool Sportsbook check-in
Penn Nationwide Gaming CEO Jay Snowden made it clear that Barstool goes to depend on natural advertising and marketing and needs to be judged on web gross income (income minus promo credit).
Barstool in January 2022:
- Income: $3.3 million
- Promo credit: $1.7 million
- NGR: $1.5 million
Barstool in February 2022:
- Income: $1.9 million
- Promo credit: $859,553
- NGR: $1.1 million
PA sports activities betting deal with & income by operator February 2022
| Licensee | On-line Model | Complete Deal with | Complete Income | On-line Deal with | On-line Income | Retail Deal with | Retail Income |
|---|---|---|---|---|---|---|---|
| Valley Forge | FanDuel | $215,047,108 | $5,978,636 | $213,152,290 | $5,969,187 | $1,894,818 | $9,448 |
| Meadows | DraftKings | $141,468,879 | $4,891,694 | $140,065,075 | $4,860,626 | $1,403,804 | $31,068 |
| Hollywood Morgantown | BetMGM | $72,901,730 | $4,319,501 | $72,320,602 | $4,268,610 | $581,128 | $50,891 |
| Hollywood Penn Nationwide | Barstool | $48,075,172 | $1,979,664 | $46,772,593 | $1,986,789 | $1,302,579 | -$7,124 |
| Rivers Pittsburgh | BetRivers | $29,087,513 | $1,349,434 | $23,969,096 | $1,170,536 | $5,118,416 | $178,898 |
| Parx | Parx | $20,631,548 | $1,250,365 | $14,196,354 | $915,911 | $6,435,194 | $334,454 |
| Rivers Philadelphia | SugarHouse | $18,866,338 | $628,438 | $14,598,213 | $258,269 | $4,268,125 | $370,169 |
| Mount Ethereal | Fox Wager | $9,595,656 | $554,038 | $9,124,518 | $551,961 | $471,137 | $2,077 |
| Hollywood York | PointsBet | $9,587,010 | $945,733 | $7,915,820 | $855,495 | $1,671,190 | $90,239 |
| Mohegan Solar Pocono | Unibet | $7,620,222 | $526,968 | $6,618,459 | $484,594 | $1,001,763 | $42,374 |
| Stay Philadelphia | Betway | $6,194,220 | -$417,139 | $2,213,325 | -$122,637 | $3,980,895 | -$294,501 |
| Presque Isle | TwinSpires | $6,133,574 | $312,527 | $2,893,234 | $155,063 | $3,240,340 | $157,464 |
| Harrah’s Philadelphia | Caesars | $5,712,260 | -$297,993 | $3,250,975 | -$173,263 | $2,461,284 | -$124,730 |
| South Philly OTB | $2,250,137 | $73,143 | $0 | $0 | $2,250,137 | $73,143 | |
| Wind Creek | Wind Creek | $2,146,784 | -$43,744 | $1,018,495 | -$48,426 | $1,128,288 | $4,682 |
| Lehigh OTB | $922,294 | $42,900 | $0 | $0 | $922,294 | $42,900 | |
| Stay Pittsburgh | $644,514 | $7,883 | $0 | $0 | $644,514 | $7,883 | |
| Parx Malvern | $179,091 | $58,503 | $0 | $0 | $179,091 | $58,503 | |
| Complete | $597,064,049 | $22,160,553 | $558,109,050 | $21,132,714 | $38,954,999 | $1,027,839 |
PA iGaming income by operator in February 2022
| Licensee | Complete Income | Slots | Tables | Poker | Promos | State/Native Taxes |
|---|---|---|---|---|---|---|
| Hollywood Penn Nationwide | $51,639,484 | $36,114,105 | $15,241,712 | $283,667 | $8,977,896 | $17,132,024 |
| Rivers Philadelphia | $30,816,996 | $27,638,626 | $3,099,036 | $79,334 | $6,299,528 | $12,029,689 |
| Valley Forge | $19,600,645 | $9,848,808 | $9,751,836 | $0 | $1,102,619 | $6,283,236 |
| Mount Ethereal | $6,950,248 | $4,265,976 | $1,044,401 | $1,639,871 | $2,686,948 | $1,278,600 |
| Parx | $3,538,516 | $3,086,422 | $452,094 | $0 | $553,407 | $1,440,163 |
| Stay Philadelphia | $3,267,911 | $2,564,213 | $703,698 | $0 | $541,429 | $1,204,895 |
| Harrah’s Philadelphia | $3,180,107 | $1,897,064 | $404,792 | $878,251 | $362,177 | $1,027,329 |
| Mohegan Solar Pocono | $2,075,025 | $1,803,401 | $271,624 | $0 | $456,664 | $770,698 |
| Wind Creek | $1,458,669 | $1,367,897 | $90,772 | $0 | $292,607 | $595,180 |
| Presque Isle | $1,220,440 | $863,019 | $357,421 | $0 | $55,471 | $493,263 |
| Complete | $123,748,040 | $89,449,530 | $31,417,388 | $2,881,123 | $21,328,747 | $42,255,078 |
Press launch: Pennsylvania Sportsbooks Slip in Publish-Tremendous Bowl Slowdown
Contact: Zack Corridor, Catena Media, [email protected]
Lead picture by Katie Kohler
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