Pennsylvannia Control Board Releases Sports Betting Revenue Report

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Pennsylvannia Control Board Releases Sports Betting Revenue Report

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.

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