Pennsylvania Sports Betting Market Reports its Strongest Revenue Month Yet
Pennsylvania reported one of its strongest months for sports betting revenues to date. Total market revenue growth grew by 183.5% for month-to-month comparisons. Handle was up by 41% compared to February from $31.5 million to $44.5 million. Contributions were boosted by several casino properties launching new sportsbooks last month.
Six properties contributed to the monthly figures with Rush Street/operated, Kambi Games powered, Rivers Casino leading the market earning $11.9 million of handle and more than $1.2 million in total sports revenues for the state. SugarHouse Casino, another Rush Street operation, came in second place earning the state $1.2 million. Parx Casino ranked third earning $984,339 for the month, a significant increased from February’s earnings.
William Hill’s powered sportsbook, Penn National Gaming, was one of the first casinos to offer regulated sports betting activities in the state. Although they reported $521,864 in revenues, it was one of the least amounts earned.
Regulated sports betting generated $2 million in tax revenues for the state. $1.9 million of the total tax generations was paid to the state through a 34% tax rate with the final generation for totaling $110,386. The tax rate for local share assessment is 2% which is paid out to local authorities where each property is based.