Pennsylvania has quickly developed one of the largest gambling industries in the United States. Here, both casinos and sportsbooks are operational. New reports have surfaced claiming casino revenue in Pennsylvania surpassed $408 million over the month of August.
This represents a massive increase when compared to the year prior. It’s a slight drop from July, though. Now is a great time to talk about exactly how much revenue was brought in from this state’s casino industry.
Here’s what you need to know!
Reports on the Casino Revenue in Pennsylvania for August are Out
Pennsylvania is home to a huge number of popular casinos. Some of these are Native American-owned and operated. Others are commercial casinos, run by some of the most powerful gaming companies in the United States.
Revenue from this industry has been steadily increasing for the past year. This week, reports on casino revenue in Pennsylvania for August finally surfaced. Some were surprised to find that the state’s casinos brought in $408 million over the course of the month.
The casinos here managed to increase their year-on-year revenue by 31%. Interestingly, revenue dropped by $15.5 million when compared to July. That is not a large drop and this decline is not a surprise when considering neatly all US casino destinations reported casino revenue drops over the month of August.
Parx Casino in Bucks County brought in the most revenue at $59.1 million. Rivers Casino Pittsburgh also saw a large revenue month at $31.38 million. Meadows Casino brought in $24 million in gross gaming revenue.
Overall, this state’s casino earnings are impressive. All states saw declines in casino revenue in August, yet Pennsylvania’s earnings remain far better than in other parts of the country.
Sports Betting Revenue Fell in PA Over August
Pennsylvania is also home to a large and successful sports betting industry. The first sportsbooks went live here in November of 2018. Since that time, the industry has grown and a huge number of great internet sports betting options are now operational here.
This past August, Pennsylvania experienced sports betting revenue decrease for the second straight month. The sports betting operators here managed to bring in $25.3 million in total GGR. $6.5 million went to the state via taxes.
The state’s sports betting handle actually increased in August. A total of $348,520,369 was wagered on sports over August. That is a solid increase from the $304,415,503 bet on sports in this state in July.
Most expect to see a large increase in sports betting revenue here in September. Millions have already bet on the NFL season this month. Based on the current trend, September of 2021 may end up being the best month in history for Pennsylvania’s sports betting industry.
Pennsylvania was far from the only state to experience gambling revenue declines over August. Here’s a look at how some other states’ gaming industries fared last month.
Most States Report Casino Revenue Declines in August
The US casino industry has been faring extremely well throughout 2021. Most states have reported consistent increases in casino revenue over the year. August, however, proved to be one of the worst months of the year for gambling properties around the country.
Louisiana is one state to report casino revenue drops in August. Interestingly, the casinos in Baton Rouge actually saw a revenue drop of 7% when compared to August of 2020 and a 30% decline from July. Part of this was due to intense natural weather events that forced casinos here to shut down.
Michigan’s casino industry struggled, too. The casinos in Detriot managed to net $113.5 million throughout the month. MGM Grand Detriot managed to bring in the most revenue at $52.24 million.
Many analysts are curious to see how casino hubs will fare in September. Cases of Covid-19 have continued to increase and travel seems to be decreasing. Hope is that cases begin to drop over the fall months and casino destinations will see their revenue figures increase once again.
Are you surprised to see where casino revenue in Pennsylvania stands for August? Do you expect things to increase next month? Let us know in the comments section below.