As the world was taken over by the Covid-19 pandemic, the online entertainment industry started to grow at an incredible pace. And understandably so, since so many people were left inside their own homes with nothing left to do but to find some fun in the online world.
Players from around the world started joining online casinos and sportsbooks in great numbers, and the same went for Pennsylvania. The online gambling market in Pennsylvania hit the first milestones in January when the revenue of all iGaming channels and online operators went over 80 million dollars.
However, not all casino games saw the same growth rate. Even though all poker games are among the players’ favorites, the results showed that their numbers remained the same. On the other hand, online casino table games, as well as online slots, have had a massive increase. Table games exceeded the 35 million dollar mark for the first time in Pennsylvania, while online slots broke the 50 million dollar milestone. The reason for this phenomenon could be hidden in the fact that it’s much easier to play online slots and table games than poker. And it could well be that people were craving relaxation and entertainment more than the challenge that goes with playing poker.
Comparing to last year’s statistics, all of the numbers for online casino games went up, but it came with a cost. Unfortunately, the numbers for all land-based casinos went down by 27% due to the coronavirus pandemic.
The Overall SuccessEven though many more people chose to visit PA poker sites than to go to a land-based casino, the overall success of the gaming revenue takes into consideration both the numbers provided by online and brick-and-mortar casinos. Even though land-based casinos had huge losses because of the pandemic, the overall revenue from gaming in PA improved by 2,7% in January 2021 compared to the same number in 2020.
PA gambling sites exceeded revenue of 80 million dollars in January and compared to December 2020 numbers, we can see an increase of more than 12%. At the moment there are ten license holders in Pennsylvania. Out of those 10 operators, as many as seven saw an incredible increase in revenue in January, while the other three saw a slight drop.
When thinking about the incredible year that the gaming industry in Pennsylvania had one must also take into consideration other factors. Firstly, the online market is still relatively young. Meaning that at least a couple of more years need to pass in order to see the real value that this industry has for the state of Pennsylvania. Additionally, it’s expected that the overall gaming revenue will increase significantly once the land-based casinos are fully operational.
The Biggest Operators in PA Online Market and Their NumbersOne of the most successful operators in Pennsylvania was Valley Forge with an increase in revenue of over 32%. This license holder is the third-largest in the state and also the home of FanDuel Casino. Even though the second-largest license holder, Rivers, earned as much as 20 million dollars, Valley Forge wasn’t that far off behind with 14 million.
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What is more, it’s worth mentioning that the greatest name in online gambling in Pennsylvania, Penn National, saw an incredible increase of over 17%. With its revenue of over 27 million, they remain the leader of the online market in PA.
What Does The Future HoldAs the market continues to expand in the USA and in Pennsylvania, it’s expected that an overall increase in revenue is bound to happen, especially with the growth of iGaming and other trending gambling options that are interesting to new and regular players. Also, if the online market continues to grow even after the land-based casinos are fully operational, then the gaming market could turn out to be the most profitable one for the state of Pennsylvania.
