In January, Pennsylvania’s sports betting industry saw a 1.75% increase in total wagering handle, reaching $873.1 million, compared to the previous year. However, taxable revenue declined by 26.35%, dropping to $51.5 million. Valley Forge Casino Resort led the way with a handle of $342.3 million and revenue of $28.8 million. Hollywood Casino at the Meadows followed with a handle of $221 million and revenue of $15 million, both experiencing year-over-year declines.
Despite the overall decrease in revenue, some operators, such as Wind Creek Bethlehem and Live! Casino Pittsburgh, saw revenue gains. The majority of sports betting revenue came from Pennsylvania sports betting apps, with statewide online sports wagering revenue amounting to $49.2 million.
The fantasy sports industry in Pennsylvania, on the other hand, grew by 8.9% in January, with total revenue reaching $2.6 million. DraftKings led the market with revenue of $1.47 million, while Underdog Sports, Inc. experienced the most growth at 26.24%.
In contrast to the growth of the sports betting and fantasy sports industries, online sportsbook operator BetMGM faced challenges in February after being fined $260,605 for 152 violations related to the Pennsylvania Interactive Self-Exclusion List. This list requires gaming operators to prevent self-excluded individuals from accessing their platforms.
Overall, while Pennsylvania’s sports betting industry saw a mixed performance in January, the continued consumer appetite for sports betting and fantasy sports indicates a promising future for the market.
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