Pennsylvania Gambling Numbers Go Up Despite the Plummeting Casino Revenue
The State-wide casino closures amidst the COVID-19 contagion bring about in stark total revenue drops in March. The data was released by the Pennsylvania Gaming Control Board on Thursday. Revenue from Pennsylvania’s 12 casinos, along with the video gaming terminals and the fantasy contests, dropped by 51% year-over-year in the last month to roughly $153.5 million from $316.3 million in 2019. The reductions are a huge blow to Pennsylvania’s gambling industry. The increase was a great part due to the state’s first full year of legal sports betting.
Biggest Revenue Loss
Wind Creek Bethlehem Casino saw the biggest cut to profits with a 71% reduction in March. This was then shadowed by Harrah’s Philadelphia with 65% decrease and Rivers Casino Pittsburgh with 58% decrease. Rivers Casino Philadelphia has experienced 27% blow to income, while Mount Airy Casino Resort got 13% decrease.
Despite the toll from the coronavirus, the new figures are showing how proceeds from virtual casino games state-wide have jumped more than 24% when compared to February. The web games have generated a gross revenue of almost $24.3 million in March, this is up from close to $19.5 million made in February.
Rivers Casino Philadelphia has accounted for over 27% of Pennsylvania’s total virtual casino gaming returns with contribution of close to $6.8 million. Most of that stopped from web slots revenue with almost $4.8 million, and with the rest from online table games with nearly $2 million.
While COVID-19 had begun to affect Pennsylvania’s gaming numbers in February, the vilest didn’t hit until the past month. In February, total state-wide gaming and fantasy sports contests revenue was still at $304.3 million — close to 14% year-over-year increase from the year 2019.
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