Pennsylvania casinos and sportsbooks chalk up record March results

For the first time in their history and March reportedly saw the various casinos and sportsbooks in the eastern American state of Pennsylvania bring in more than $400 million in aggregated monthly revenues.

According to a Thursday report from the online news domain at PlayPennsylvania.com citing official information from the Pennsylvania Gaming Control Board, the finishing tally of $403.2 million was almost 26% higher than the previous record of $320.2 million set in October while simultaneously representing a month-on-month rise of 33.5%. The source detailed that the March result also means casinos and sportsbooks in ‘The Keystone State’ combined to chalk up an all-time high of over $1 billion in aggregated first-quarter revenues.

Sportsbetting success:

Boosted by interest in this year’s edition of the annual ‘March Madness’ collegiate basketball tournament and sportsbooks in Pennsylvania reportedly saw their aggregated March handle improve by 10% month-on-month to $560.3 million. The sports wagering service operated by FanDuel Group in partnership with the Valley Forge Casino Resort property from Boyd Gaming Corporation purportedly led the way with a record $205.8 million followed by the DraftKings Incorporated offering from The Meadows Racetrack and Casino at $118.4 million.

Rewarding returns:

The figures from the Pennsylvania Gaming Control Board reportedly moreover showed that this led to an impressive spike of 79% month-on-month in combined March sportsbetting revenues to $29.3 million with around 91% of the action taking place online. But these numbers were purportedly tempered by drop of about 10% in daily fantasy sports receipts to roughly $1.8 million with nearly all of these having been processed by DraftKings Incorporated and FanDuel Group.

Significant stimulation:

The March aggregated revenue tally for Pennsylvania was furthermore reportedly 162.7% higher than for the same month last year, which was cut short owing to temporary coronavirus-related shutdowns on all land-based facilities. The retail sector has now purportedly improved to post an increase of 127.6% year-on-year in slot receipts to $199.2 million as takings from gaming tables swelled by 115.5% to $71.3 million.

Complimentary considerations:

For its part and iGamingBusiness.com reported that these land-based figures are all the more impressive considering that casinos in Pennsylvania remain subject to a range of strict social distancing and maximum capacity restrictions. However, this source explained that even away from the state’s twelve land-based venues and revenues from video gaming terminals rose by 285.4% year-on-year to $3.6 million.

iGaming interest:

When looking purely at revenues from online casino gaming in Pennsylvania and the $97.7 million figure recorded for March reportedly represented an upturn of 302.1% year-on-year with almost 22% of this tally at $66.4 million having come from video slots. The state’s iGaming operators also reportedly recorded $28.9 million in online table games receipts for the 31-day period as well as $2.4 million in takings from poker.