Online Gaming Revenue Ramps Up In Major U.S. MarketsPoker Numbers Continues To Sag |
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The American gaming market saw a record $17.63 billion in revenue in the second quarter of this year and online gaming played a major role in that. Revenue numbers from the country’s major online gaming states served as an example of that in July.
Pennsylvania, New Jersey, and Michigan all saw significant gains, but New Jersey’s live casino revenue numbers continued to struggle. Here’s a look at all the numbers.
Pennsylvania
The massive growth of gaming continued in July in the Keystone State. The Pennsylvania Gaming Control Board reported $500.8 million in combined total revenue from all forms of gaming, an increase of 7.2% compared to July 2023. Hollywood Casino at Penn National Race Course was the leader in the industry, with revenue of $79.5 million, up 13.4% from $70.1 million last year.
In online gaming, the state saw monthly gross revenue of $174.3 million, rising 31.2% from $132.9 million in July 2023. Here’s how that breaks down by game type compared to July 2023.
● Online casino – $125.4 million (up 32.2%)
● Online table games – $46.5 million (down 4.8%)
● Online poker – 2.3 million (down 13%)
Total sports wagering handle was $414.7 million in July, up 22.52% from $338.5 million in 2023. The taxable revenue figure of that was $38.6 million, an increase of 20.2% from $32.1 million last July. Of that, online sports revenue accounted for $35.1 million
Total tax revenue generated from all forms of gaming was $207.7 million. This comes as Pennsylvania recently announced collecting record tax revenue of $2.54 billion for the 2023-24 fiscal year.
New Jersey
Overall live casino revenue reached $272.3 million for July, a decrease of 6.1% from $290 million last July, according to the New Jersey Division of Gaming Enforcement. Year-to-date revenue for the state’s nine casinos reached $1.63 billion, a 1% drop from July 2023.
The declining live casino revenue numbers over the last year have concerned legislators and others following the industry.
“While many were hopeful that the summer of 2024 for Atlantic City casinos would see a rebound in drive-in visitors after last year’s trend of people taking their ‘dream vacation’ and flying to destinations, the July in-person gaming numbers suggest that is not the case,” director of Stockton University’s Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism Jane Bokunewicz told NorthJersey.com.
For online gaming, major growth continued. Operators reported revenue of $195.4 million, a surge of 25.9% from $155.2 million last July. Year-to-date revenue was $1.33 billion, growing 22% from $1.09 billion in the same period in 2023. Online poker brought in $2.6 million in July, down slightly from $2.7 million last year.
Sports betting revenue climbed significantly in July to $80 million – a 31.2% increase from $61 million in 2023. Year-to-date gross revenue was $653.1 million, a 30.1% increase from the $501.8 million during the same period last year.
Online gaming helped the numbers for all forms of gaming. July total gaming revenue was $547.8 million, up 8.2% from $506.2 million in July 2023. Year-to-date total gaming revenue sits at $3.61 billion, an 11.5% increase from $3.23 billion last year.
Michigan
Online gaming saw some considerable gains overall in the Wolverine State in July. Operators reported $220.9 million in online casino and sports betting gross receipts in July, an increase of 3.2% compared to June, according to the Michigan Gaming Control Board.
Online casino accounted for $191.4 million, up from $183.2 million in June. Michigan includes online poker in overall online casino revenue figures. Sports betting totaled $29.42 million, a slight drop from $30.9 million the previous month.
Combined adjusted gross receipts (AGR) for July were $189.5 million, including $172.3 million from iGaming and $17.2 million from sports. This represents an iGaming increase of 4.7% and a sports betting jump of $45.4 million compared to June. iGaming AGR was up by 24.7% and sports betting was up 5.2% from last July. Online sports betting handle was $250.2 million, down 9.6% from the $276.8 million in June.
Operators submitted $37.1 million in taxes and payments to the state and tribal operators made $4.5 million in payments to governing bodies in July.
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