Rivers Casino Leading PA Sports Betting Revenue Race

Rivers Casino Leading PA Sports Betting Revenue Race

In just a few short months, legal Pennsylvania sports betting is already showcasing the type of potential it has to become an extremely profitable industry and Rivers Casino PA finds itself at the forefront.

The first Pennsylvania online casino to introduce PA sports betting was Hollywood Casino in November 2018. Fast forward nearly half-a-year and several sportsbooks have sprouted in Pennsylvania, combining to pull in nearly $126 million in PA sports betting revenue, according to figures from the Pennsylvania Gaming Control Board.

Since its launch in December 2018, Rivers Casino Sportsbook has been generating more revenue than its counterparts and could be in store for even more growth as 2019 continues and PA online sports betting hopefully makes its way into the fold.

Rivers Casino Sportsbook Leading Revenue-Earner For PA Sports Betting

In terms of financial production, Rivers Casino PA sets the pace for Pennsylvania sports betting operators. Rivers Casino Sportsbook has produced over $35.17 million in total handle through March 2019, clearing second-place Sugarhouse Casino Sportsbook by almost $3 million. Rivers Casino PA is comfortably ahead of its peers in gross revenue at $3.89 million while it is also the only NJ online casino to reach the million-dollar mark in taxes owed at Pennsylvania’s 34 percent rate.

Rivers Sportsbook

Dec. 2018

Jan. 2019

Feb. 2019

March 2019

2018-19 Total

Handle

$5,581,553

$9,543,112

$8,147,559

$11,337,483

$35,174,192

Gross Revenue

$1,066,157

$853,316

$627,521

$1,344,398

$3,891,391

State Tax Due (34%)

$362,493

$290,127

$213,357

$457,095

$1,323,073

Local Share Assessment (2%)

$21,323

$17,066

$12,550

$26,888

$77,828

Rivers Casino Sportsbook has put up strong numbers since getting off to a fast start in January 2019, but perhaps the most recent revenue report from March could be proof that the best is yet to come. Rivers Casino PA enjoyed the best month any Keystone State operator has recorded to this point, earning a remarkable $11.34 million during a time in which the NCAA Tournament brings forth plenty of PA sports betting action. Pennsylvania’s top online casino and sportsbook seems to be continuing its trend upward in addition to having a larger impact than any of its peers on the PA sports betting market.

Rivers Casino PA Likely To Continue Growth Under PA Online Sports Betting

Rivers Casino Sportsbook has successfully established itself as the Pennsylvania’s industry leader while only being able to offer one piece of the legal sports betting puzzle. The hope is that PA sports betting online will be launched by Summer 2019, bringing a whole new dynamic of earning potential for PA sports betting operators like Rivers Casino PA.

Following The New Jersey Online Sports Betting Model

New Jersey is one of very few states to allow legal online sports betting, and that decision has paid off in a big way financially since its launch last summer. The total handle for NJ sports betting online surpassed $1 billion in the early weeks of 2019, with more than $52 million in revenue being generated since the year began. Pennsylvania is undoubtedly looking to capitalize on PA sports betting online in a similar fashion.



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