written and last updated by
Sam Smith at
21 Mar 2024
Journalist, Editorial Department
The Pennsylvania Gaming Control Board (PGCB) has reported a record monthly revenue for the iGaming sector. In February 2024, revenues reached approximately $185 million (over 17 billion rubles), marking a 40% increase year-on-year.
According to the PGCB, this new monthly high was driven by the success of the multi-platform PENN National, which includes popular online brands such as DraftKings and BetMGM. In February 2024, PENN generated $77.3 million (7.14 billion rubles), a 36% improvement compared to the same month last year.
The state recorded $51.1 million (4.7 billion rubles) in tax revenue from the iGaming industry, marking the first time Pennsylvania has surpassed the $50 million (4.62 billion rubles) threshold. When combined with January's tax revenues, the total reached $94 million (8.7 billion rubles), which is $20 million (1.85 billion rubles) higher than last year's figure.
Overall gaming revenue in the state for February exceeded $499 million (46.1 billion rubles), reflecting a 9.3% increase compared to the same month in 2023. However, this figure is down 1.6% from January. The largest source of revenue remains slot machines in land-based casinos, which generated $202.7 million (18.73 billion rubles).
In February, traditional gaming establishments earned a total of $279.4 million (25.8 billion rubles), a 0.7% increase from the previous year. Out of the 18 casinos in the state, 9 reported revenues of at least $10 million (924 million rubles).
The sports betting market saw a decline of 30% compared to February 2023, with revenues totaling $30 million (2.77 billion rubles). A potential reason for this drop could be the tightening of advertising regulations for sportsbooks by the regulator.
Additionally, Wynn and Encore have been recognized as the best casinos in Las Vegas by Travel + Leisure.
