Pennsylvania and New Jersey See Yearly Growth in iGaming Markets
Written by Nosa
Published date · Feb. 22, 2023 | Last Updated · March 6, 2023 | Read Time: 2 mins
Pennsylvania Gambling Market
In Pennsylvania, gambling revenue for January 2023 amounted to $464.4 million, marking an 18.2% increase when compared to the same period in 2022. The figure was reached by combining revenue from land-based slots, table games, sports betting, iGaming, video gaming terminals (VGTs) and fantasy contests.
- Online casino revenue in the state increased 22.9% to $133.1 million
- Online slot revenue increased 25.6% to $90.2 million
- iGaming table revenue increased 21% to $40 million
- Poker revenue decreased, slipping 14.6% to $2.9 million
As you would expect, the individual casinos in the state reported significant growth last year, with strong revenue numbers.
- Hollywood Casino at Penn National reported $55.1 million in revenue
- Valley Forge Casino Resort reported $29.7 million in revenue
- Rivers Casino Philadelphia reported $28.5 million in revenue
New Jersey in Numbers
Despite falling behind Pennsylvania in terms of pure revenue numbers, New Jersey also saw continued growth in its gaming market.
Total revenue in the Garden State from casinos, racetracks and partners totaled $436.9 million for January, up 14.5% from the previous year.
For iGaming specifically (online casinos, table games and poker), total revenue came to $152.9 million, representing growth of 10.9% from 2022.
Cashing in on Sports Betting
Sports betting was also a major contributing factor for both states.
Sports betting revenue in Pennsylvania increased 22.0% year-on-year to $39.3 million, with the majority of that figure - $36.2 million - coming from online wagering.
This happened in spite of sports betting wagers made falling during the month, decreasing to $772.3 million from $793.7 million in January 2022.
As for New Jersey, sports betting revenue for January increased 20.2% to $72.3 million, with $69.0 million coming from online bets.