Just like the online casinos in New Jersey, the Keystone State achieved a remarkable feat by earning a staggering $167.2 million in revenue for April 2023, thereby establishing its second-highest record.
- Revenue has witnessed a growth since the year 2021.
- There is a developing revenue trend in Pennsylvania.
- May 2023 Revenue Projections in Pennsylvania
The win that comes in second place surpasses the previous record of $181.5 million set in March 2023, albeit with a decrease of more than $14 million. Nevertheless, it is a remarkable 21.2% higher compared to the figures from the previous year.
The growth of online gambling in Pennsylvania is remarkable when comparing the revenue generated in April 2021 and 2022.
| 2021 | 2022 | 2023 | |
|---|---|---|---|
| April Revenue | $105,471,416 | $137,982,938 | $167,267,761 |
| Increase | + $49,747,801 | + $32,511,522 | + $29,284,823 |
| Percentage | 47,17% | 23,56% | 17.51% |
According to the table provided, online casinos’ revenue amounted to $105.5 million in April 2021 and increased to $138 million in April 2022, indicating an annual growth of $32.5 million.
In 2023, there is a notable increase of almost $30 million compared to the previous year, resulting in a total of $167.2 million generated.
It is important to mention that the pandemic greatly contributed to the substantial growth of online casinos in 2021. This is evident when comparing the revenue generated during the same months in 2020, which amounted to only $55.7 million.
A trend in revenue is emerging in Pennsylvania.
After observing the revenue figures since 2021, a noticeable pattern emerges: March consistently achieves record-breaking numbers following a decline in February, but is closely followed by a slightly lower performance in April.
| Month | 2021 | 2022 | 2023 |
|---|---|---|---|
| May | $113,770,084 | $136,752,806 | $ ? |
| April | $105,471,416 | $137,982,938 | $167,267,761 |
| March | $111,630,402 | $142,748,789 | $181,528,950 |
| Feb | $90,620,499 | $123,748,040 | $162,310,430 |
Based on the table above, March consistently leads as the month with the highest totals every year, often setting new records like in 2023. Furthermore, April consistently shows significantly higher numbers compared to February throughout the years.
Looking at the table, it appears that May is the only month that deviates from the pattern. In 2021, the revenue exceeded that of April, but this is not the case for 2022. However, if we go back to 2020, we observe a comparable increase as seen in 2021.
May 2023 Revenue Projections
According to the revenue data provided by the Pennsylvania Gaming Control Board, it is reasonable to expect that May 2023 will generate higher revenue than April. Even if the outcomes in 2023 are comparable to those of 2022, May would rank as the third-highest revenue-generating month for online casinos in Pennsylvania.
Based on our projections for May 2023, online casinos in PA are expected to generate revenue in the range of $165 million to $180 million. However, surpassing the current record seems improbable given the historical data from previous years.
