Pennsylvania Casinos Outpace New Jersey Counterparts In JanuaryPennsylvania Gamblers Lose $254.2 Million In January |
|
The Pennsylvania casino market outpaced the neighboring New Jersey market in the first month of 2019.
The Keystone State’s gambling operators generated $254.2 million in revenue in January, according to the figures released by the Pennsylvania Gaming Control Board on Tuesday. The numbers represent a 3.2 percent increase from January 2018 and was more than the $229.6 million that New Jersey gamblers lost in its casinos.
Table games revenue from the state’s 12 casinos generated $74.4 million of the total revenue, which was a 4.75 percent increase year over year. Considering the state experienced its first-ever decrease in table games revenue last year, the uptick in January is a positive sign for casino operators.
The increased revenue from table games may have something to do with the state’s recent addition of sports betting. In January, the state doubled its number of locations to place a sports bet, which resulted in the state’s total sports betting handle doubling as well.
The state’s six sportsbooks took $32 million in wagers, which generated $2.6 million in revenue. The revenue resulted in $938,000 in tax revenue from sports betting alone. Overall, casino gambling outpaced New Jersey, but they still trail New Jersey’s sports betting market, which recorded record-highs in the first month of 2019.
Parx Casino in Bensalem was the biggest winner of all the state’s operators. Located just outside Philadelphia, Parx won $1.2 million from its sports bettors and $49.5 million from gamblers at slot machines and table games.
Pennsylvania has approved but has yet to implement online platforms for sports betting, poker, and other casino gambling, including one of the world’s largest online gambling sites. PokerStars partnered with Mount Airy Casino and will enter the state’s online market when regulations are finalized.
When gamblers are able to bet online, the Pennsylvania market should continue to grow.
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
