According to the recent report from the Pennsylvania Gaming Control Board, the collective revenue from casinos and betting in May 2023 amounted to $479.3 million.
Notes taken quickly.
- The revenue generated from gambling experiences a 7% increase.
- The second highest record has been set by online casinos.
- The growth of online casinos in New Jersey is occurring at a comparable rate.
The most intriguing aspect of the latest revenue figures is the significant contribution of online casinos to the overall growth, surpassing other sectors, resulting in a remarkable 7% increase compared to last year.
In May 2023, the gambling industry in the state experienced a modest increase, with slot revenues growing by just 3% to reach $210.9 million. This figure is compared to the $205.6 million recorded in 2022. However, table games witnessed a decline of 8% as May 2023 saw revenues amounting to $81.6 million, in contrast to the $88.5 million generated last year.
Apart from sports betting, which showed a 17% growth compared to last year, the only other sector experiencing growth is iGaming. In May 2023, online casinos achieved their second-highest record, surpassing the $170 million mark for the second time this year. This comes after setting a current record of $181.5 million in March 2023.
In May 2023, the online casinos in the state experienced an impressive surge in revenue, with a total of $170.4 million won. This marked a remarkable increase of $33.6 million compared to May 2022, where the total revenue was $136.8 million.
Pennsylvania is currently leading the way in generating the highest revenue among all the legal online casino states in America. However, its neighboring state, New Jersey, is also experiencing similar growth trends. In March 2023, New Jersey set its highest record, and in May 2023, it achieved the second-highest record for the state with a remarkable win of $161.4 million.
