Pennsylvania Casino Close Record Year After Legalizing Sports Betting

Pennsylvania posted record higher gaming revenue in 2019, bolstered by the state’s initial full year of legalized sports betting.

Casinos happen to be spendingmillions to create lounges and online betting goods.

Statewide income rose 4.5% year-over-year to $3.four billion, with casinos taking in more than $84 million in sports wagering revenue, according to a report from the Pennsylvania Gaming Control Board. The state is home 12 casinos.

Valley Forge Casino Resort saw probably the most money in wagers and revenue for sports betting within the state. More than $570 million was wagered at Valley Forge in 2019, with about $24.5 million becoming placed on sports betting.

The majority of Valley Forge’s sports wagering revenue – a staggering $22.two million – came from its on-line sports betting platform, which it runs in partnership with fantasy sports giant FanDuel. Valley Forge’s on-line sports wagering revenue blew all other Pennsylvania casinos out from the water – its closest competitor was Rivers Casino Philadelphia, with $7.6 million.

Valley Forge is the only nearby casino to have a sportsbook with FanDuel, but that will alter as soon as Cordish Cos. opens a casino and sportsbook in South Philadelphia later this year.

Another fantasy sports website, DraftKings, has also nailed down partnerships with nearby businesses for sports betting in Pennsylvania, such as Wyomissing-based Penn National Gaming.

Fantasy sports had a big year in Pennsylvania as well, driving fantasy contests revenue up nearly 70% to $25.8 million. DraftKings and FanDuel led the pack, with $13.three million and $11.six million in revenue, respectively.

Overall, Parx Casino, Rivers Casino Philadelphia and Valley Forge Casino Resort all posted increases in revenue in calendar year 2019 from the previous year, based on the Gaming Control Board.

Bensalem-based Parx Casino brought within the most income of any casino in the state. The casino generated more than $639 million in gaming income, a 6% improve more than 2018. Rivers Casino Philadelphia came in at No. four general within the state, with $339 million in revenue in 2019.

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