Pennsylvania sets a new record for monthly gambling winnings
It was a record march for gambling in the state of Keystone.
The Pennsylvania Gaming Control Board reported that total combined revenue generated from all forms of gaming, along with fantasy contests, was $515,278,831 in March 2023, an 11.35% increase over revenue generated in March 2022.
THE PGC extension also noted that the number of monthly receipts exceeded half a billion for the first time since legal gambling began in 2006.
Sources of gaming revenue governed by PGC extension include slot machines, table games, internet gaming, sports betting, fantasy contests and video game terminals (VGT).
Total tax revenue collectively generated through all forms of fantasy games and contests was $212,372,453 in March 2023.
March revenue from slot machines was $225,408,088, a 4.98% increase in revenue over the $214,721,028 generated in March 2022. The number of slot machines in operation in March 2023 was 25,643 compared to 26,107 casinos in March 2022. Tax revenue from slot machine play in March 2023 was $114,424,145.
Land-based casino table games revenue for March 2023 decreased year-over-year, with revenue of $85,880,299 showing a decline of 8.91% from March 2022 when revenue was $94,280,351. Total tax revenue from table games in March 2023 was $14,017,696.
Casino games offered online generated gross revenue of $148,189,028 in March 2023 compared to $118,118,408 in March 2022, an increase of 25.46%. Monthly revenue records were set for slots, table games and overall internet gaming revenue. Tax revenue generated from Internet gaming in March 2023 was $63,534,618.
The March 2023 total sports betting handle was $723,545,806 or 1.20% higher than the March 2022 total of $714,976,578. At the same time, the taxable income figure for March 2023 was $50,645,259 or 66.59% higher than in March 2022, when taxable income was $30,400,581. Tax revenue generated from sports betting was $18,232,293.
Total March 2023 adjusted revenue for video game terminals was $3,757,506, or 1.87% less than in March 2022, when revenue was $3,829,287. By the end of March 2023, VGT Terminal operators were using the maximum allowed number of five machines at 66 qualified truck stops compared to five machines at 63 establishments last year.
Fantasy contest revenue was $1,398,651 in March 2023, an increase of 0.59% from March 2022, when revenue was $1,390,443.