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The Pennsylvania Gaming Control Board (PGCB) has revealed that gross gaming revenue (GGR) from all regulated verticals achieved an all-time high of $5,513,729,520 during the fiscal year 2022/2023. The record-high revenue not only demonstrates Pennsylvania’s gaming industry’s tremendous expansion, but also cements the state’s status as the second-richest gaming state in the country, trailing only Nevada.
The astounding result represents a more than 9% rise over the previous fiscal year, demonstrating the booming nature of Pennsylvania‘s gaming business. Furthermore, the record-breaking revenue has produced in significant financial benefits for both the state and municipal governments, with gaming interests contributing approximately $2.37 billion in taxes, a $316.6 million gain over the previous fiscal year.
Most of Pennsylvania’s gaming verticals grew significantly during fiscal year 2022/2023. The gross income from slot machines in casinos was $2.4 billion, a 1.74% rise over the previous fiscal year. This is the second-highest slot machine income in a fiscal year, after only the record set in 2011/12, confirming slots’ ongoing appeal among casino patrons.
In contrast, retail table games revenue fell, with GGR totaling $974 million, a 4.11% fall from fiscal year 2021/22. This category, along with fantasy contests revenue, which fell by 24.32% to $20.7 million, was the only one to show a decrease.
One of the primary drivers of the record revenue was the increase in iGaming revenue, which reached an outstanding $1.5 billion in fiscal year 2022/23, representing a strong 24.38% increase over the previous year. Similarly, sports wagering revenue increased dramatically, reaching over $492 million, an astounding 55.82% rise over the $315.7 million collected in fiscal year 2021/22.
The extraordinary rise of Pennsylvania’s gaming sector can be traced in part to the state’s recent expansion of gaming products. In 2017, the approval of mini-casinos, sports betting, iGaming, DFS, and VGTs at specific truck stops contributed greatly to the industry’s development.
Penn Entertainment positioned itself as Pennsylvania’s leading casino operator in 2022/23, with GGR topping $1.36 billion. Its iGaming businesses brought in $648.1 million, while its four casinos brought in $536.3 million from slots and tables. The remainder of its revenue was generated by its sports betting and VGTs businesses throughout the Commonwealth.
Wind Creek Bethlehem led retail table games revenue with $236.7 million, while Parx Casino led slot machine revenue with $389.9 million. With $648.1 million in iGaming revenue, Hollywood Casino at Penn National Race Course stood best.