The state of Pennsylvania is home to a large, successful gambling industry. Since 2020, gaming operators in the state have been working hard to boost their revenue figures. Now is the perfect time to break down exactly how the gaming industry in PA is faring right now.
There has been some real progress made here over the past six months. The casino industry, in particular, seems to be improving at a rapid pace.
Here’s what you need to know!
Pennsylvania’s Casino Industry Fared Better Than Other States in 2020
As most are aware, 2020 ended up being the worst year in history for the country’s land-based casino industry. For months, all commercial casinos were forced to shut down. Intense health and travel restrictions remained in place throughout the year, leading to a major decrease in casino visits.
Some casino markets were affected more than others. Over in Las Vegas, things turned dire extremely quickly. This city relies heavily on its tourism industry. When the casinos in Las Vegas shut down, tourism came to a screeching halt.
Atlantic City was heavily impacted, as well. The East Coast’s gambling hub was essentially shut down between March and June of 2020. A huge number of job losses quickly followed and gambling revenue remained low throughout the year.
Pennsylvania seemed to fare better than many other states. Overall, the state’s gambling revenue fell by 31% from 2019 to 2020. That is significantly less than many of the other nearby states including New Jersey.
Regulated online gambling options helped Pennsylvania make up for much of the lost land-based revenue. Pennsylvania allows both online casino gambling and sports betting. With many residents stuck at home, these internet gaming options surged in popularity.
Many are now asking how Pennsylvania’s gaming industry is faring thus far in 2021. Here’s a quick update on this situation!
The Gaming Industry in PA Continues to Improve Throughout 2021
There are a huge number of popular casinos spread throughout Pennsylvania. Throughout the first-half of 2021, these venues have seen their visitation and revenue figures increase. It’s fantastic news for the gambling operators here.
This past April, combined gross gaming revenue in the state came out to $404,105,692. That broke the record set just one month prior. Many expect that May’s revenue figures will once again set a new record for the state.
The Parx Casino saw the biggest revenue increase in April. Incredibly, this state managed to bring in $62,944,591. That is a massive increase from the $4,307,273 brought in during April of 2020. This venue in Bensalem remains the most popular gambling establishment in the state.
The Hollywood Casino at Penn National came in second with a combined $53,530,883 in GGR this April. In third place is the Rivers Casino Philadelphia at $49,057,486. The lowest-earner of April was the Hollywood Casino Morgantown at just $1,139,054.
It’s clear that a growing number of PA residents are choosing to play inside casinos. Pennsylvania’s casinos may also be attracting visitors from neighboring states. Hope is that this trend continues for the rest of the year.
The casinos in Pennsylvania certainly have reason to celebrate. Recent reports also indicate the sports betting companies here are seeing a major increase in revenue lately.
PA’s Sports Betting Industry is Still One of the Country’s Strongest
The US Supreme Court struck down PASPA back in May of 2018. This decision proved to be monumental for the country’s gambling industry. PASPA’s removal immediately gave every state the ability to legalize and regulate sports betting.
It didn’t take long for Pennsylvania to embrace this industry. Today, both land-based and online sportsbooks are available here. Sports betting revenue has been steadily increasing in the state since these sportsbooks launched.
This past April, sports betting handle and revenue decreased for the first time in months. Most feel the end of the college basketball season led to this revenue decrease. When compared to 2020, however, Apri’s revenue saw a staggering 941.8% increase.
Analysts expect May’s sports betting revenue figures to increase significantly thanks to the NBA season. A handful of major MMA events could also contribute to a better month. We’ll be sure to report on the numbers here as soon as they are released.
Overall, the gaming industry in PA is going strong right now. 2020 was an extremely difficult year for the gambling companies here. Things are bouncing back in a big way and 2021 may end up being the best overall year in history for the casinos and sports betting operators throughout the state.
Are you surprised to see casino revenue in Pennsylvania bounce back so quickly? Let us know in the comments section below.