While table games usually help push gaming revenues in Pennsylvania to the positive side, they actually saw a drop in April earnings.
Table games are the lifeblood of the casino industry in Pennsylvania. The state can always rely on the games to provide a push within the gaming revenues earned each month. Players tend to lean towards the table games rather than slots in the state, which helps the revenues to remain on the plus side. However, for April, table games did not fare well and even though slots saw an increase earnings, it was not enough to mark out a brutal month for table games.
For April, the casino industry of the state dropped 7% when compared to March and then was down 1.5% when compared to April of last year. Slot machines were up 23% with just over $206 million in earnings with table games earning just over $74 million, dropping 6.19%. total gaming revenues came in at $280,846,142.
Slot revenues have been down throughout the year and even part of last year. Since May 2017, the state has seen a big drop in slot earnings, with a few months of positive gains sprinkled in-between. Over the past two months, slots have seen positive gains, with March being up 5.41% while April was up just .23%.
Individual Casino Breakdown
The top two casinos in the state, Sands Bethlehem and Parx, continue to pull away from each other. Parx was able to see an increase in revenues of 6.4% in April while Sands was down a whopping 9.5%. For a long time, the Sand’s was able to dominate the table gaming earnings, but their stronghold has been evaporating for some time. Parx took in $16.5 million in April which is a little more than $1 million less than what the Sand’s was able to earn for the month. The decrease in earnings by the Sand’s helped the Parx Casino to close the earnings gap.
Valley Forge was another venue that had been experiencing a streak of solid earnings, but this came to an end in April. The brand posted their first year over year decline in April, since October 2017. The last four out of the five months has seen Valley Forge earn double digits due to good performance.
The casinos should only see even more revenues in the coming months as additional options will come in to play. Last year, lawmakers decided to approve a gaming package that would allow for several new gaming options to be added to the state. Satellite casinos have already been approved and several casino brands are ready to offer this gaming option which will help the bottom line.
Online casino gaming is also getting ready to launch, which will also push the revenues to a higher level. Casinos are working on licensing and preparing to launch, and once the online gaming industry is fully operational, we should see the monthly revenue totals only continue to increase.
Sports betting is also now in the mix. After the recent SCOTUS decision involving sports betting and PASPA, states can now legalize sports betting. Pennsylvania already has legislation in the books, so this will be yet another way that the industry will be expanding.
It will certainly be something to watch over the next few months as Pennsylvania begins to offer new gambling options and how it will affect the bottom line of the operators as they begin to expand their offerings.