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Pennsylvania breaks gambling fiscal year revenue record

pennsylvania-breaks-gambling-fiscal-year-revenue-record

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he previous high for revenue in a state fiscal year was during 2018/2019 when revenue was slightly more than $3.3 billion. Since that time there has been significant growth in the nascent sports wagering and fantasy sports contests markets along with the establishment of both the iGaming and VGT markets. Those four markets combined constituted almost 33% of the total revenue achieved in Fiscal Year 2020/2021.

The year over year increase of revenue this past fiscal year compared to Fiscal Year 2019/2020 was significant, primarily as a direct result of casino shutdowns and other factors related to Covid-19 restrictions. This included closure of casinos for three months in the second quarter of 2020 affecting slot machine, table games, video gaming terminals (VGTs), and retail sport wagering revenue, along with the stoppage of play of major sporting events which further affected sports wagering.

Estimated combined tax revenue from these gambling initiatives for the Fiscal Year 2020/21 was $1,593,642,159 compared to $1,123,665,601 in the previous fiscal year. Tax revenue figures reflect amounts generated prior to any adjustments by the PA Department of Revenue.

Slot Machine Revenue

Fiscal Year 2020/21 gross revenue from slot machines at the casinos was $1,887,573,437 an 11% increase in revenue when compared to the $1,697,955,473 generated in Fiscal Year 2019/20.

Slot machine revenue for each of the casinos, with the percentage change reflected over the previous year, is as follows: 

Table Games Revenue

Fiscal Year 2020/21 gross revenue from table games at the casinos was $721,763,471, a 11.98% increase in revenue when compared to the $644,543,736 generated in Fiscal Year 2019/20.

Sports Wagering Revenue

Fiscal Year 2020/21 revenue from sports wagering was $308,849,184, a 171.58% increase in revenue when compared to the $113,724,759 generated in Fiscal Year 2019/20.

Sports wagering revenue for each of the casinos, with the percentage change reflected over the previous year, is as follows:

Fantasy Contests Revenue

Fiscal Year 2020/21 revenue from fantasy contests was $28,186,529, a 35.07% increase in revenue when compared to the $20,868,176 generated in Fiscal Year 2019/20.

Internet Casino-Type Gaming (iGaming) Revenue

Fiscal Year 2020/21 revenue from iGaming was $897,216,020, a 272.45% increase in revenue when compared to the $240,894,852 generated in Fiscal Year 2019/20.

The first iGaming provider became operational in July 2019.  At the end of the fiscal year there were ten iGaming operators in Pennsylvania.

Video Gaming Terminals

Fiscal Year 2020/21 revenue for Video Gaming Terminals at Truck Stops was $31,334,744 a 361% increase in compared to the $6,798,123 in Fiscal Year 2019/20.  The first VGT’s became operational in August 2019.  At the end of this fiscal year, there were 49 VGT facilities operating in Pennsylvania compared to 28 facilities in operation at the end of Fiscal Year 2019/2020.

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