PA Sports Betting Revenue Report Shows Dip In April

PA Sports Betting Revenue Report Shows Dip In April

By any objective measure, the first few months of PA sports gambling have been a success. Wagering began in November 2018 with only Hollywood Sportsbook in operation, followed by lucrative new venues like Rivers Sportsbook and SugarHouse Sportsbook launching in December. The number of operators is up to eight and in total, PA sports betting has generated over $162 million in the handle while pulling in nearly $17 million in revenue for the Keystone State.

Even with PA sports betting off to a great start, however, the most recent data shows a bit of a dip compared to the month before it, according to the Pennsylvania Gaming and Control Board.

PA Sports Betting Revenue: Comparing March To April

In March 2019, the industry totaled over $44.5 million in the betting handle and over $5.5 million in revenue. In April, Pennsylvania sports betting revenue clocked in at $4.2 million with a total handle of nearly $37 million. Here are two charts depicting handle, revenue and taxes for the two biggest earners in PA sports betting: Rivers Sportsbook and SugarHouse Sportsbook.

Rivers Sportsbook

March 2019

April 2019

2018/2019 Total

Betting Handle

$11,337,483

$8,159,827

$43,334,019

Gross Revenue

$1,344,398

$871,753

$4,763,144

State Tax Due (34%)

$457,095

$265,595

$1,619,469

Rivers Casino Sportsbook is the PA sports betting industry leader in handle at over $43 million and revenue at $4.76 million. In March, Rivers registered a double-digit betting handle and reached a milestone $1.34 million in revenue, getting into nine seven figures for the first time. April’s numbers show Rivers pulled in over $8 million in handle while revenue dipped to $871,753. A strong month by comparison to competitors, but still well short of what took place in March.

SugarHouse Sportsbook

March 2019

April 2019

2018/2019 Total

Betting Handle

$9,223,827

$7,920,797

$40,571,485

Gross Revenue

$1,237,301

$781,163

$3,286,508

State Tax Due (34%)

$420,682

$265,595

$1,117,413

SugarHouse Sportsbook is Pennsylvania’s second-highest earning sports betting operator with almost $3.3 million in revenue and a handle over $40.5 million in total. Like Rivers, SugarHouse was on the correct side of the million-dollar mark in March 2019 revenue, but dropped back below in April. Also like Rivers, SugarHouse couldn’t quite match handle in April after setting a high bar the month before.

April Sports Betting Handle & Revenue For Remaining Pennsylvania Sportsbooks

  • Hollywood Sportsbook: $3,923,499 in handle, $361,249 in gross revenue
  • Parx Sportsbook: $6,850,305 in handle, $907,298 in gross revenue
  • South Philadelphia Race And Sportsbook: $2,603,808 in handle, $441,692 in gross revenue
  • Harrah’s Sportsbook: $2,718,595 in handle, $282,740 in gross revenue
  • Valley Forge Casino Sportsbook: $3,050,424 in handle, $379,731 in gross revenue
  • Valley Forge Race And Sportsbook: $1,541,891 in handle, $195,856 in gross revenue

Are April’s PA Sports Betting Revenue Numbers Something To Worry About?

The question now becomes, is the drop-off is revenue of a few million dollars something to be worried about moving forward?

The answer is simply no. Despite the numbers taking a bit of a downturn, the April 2019 that PA sports betting operators put together was by no means anything to scoff at. The month was still the second-most profitable one in both total sports betting handle and gross revenue to date at $36.77 million, partially thanks to new venues in the land-based sports betting space.

It doesn’t come as a total surprise that April would generate less sports betting action than the month before it for one reason: March Madness. The NCAA Tournament is a sports  betting machine in itself and March’s numbers were always going to inflate due to the three-week spectacle falling mostly in that 30-day period. April, May and the beginning of June feature plenty of professional sports’ postseasons and plenty of reasons to wager, but matching the betting interest of March Madness is no small feat.

As spring progresses into summer, there are just less massive events on the sports calendar to generate gross revenue from. In the back pocket of PA sports betting operators, however, is NCAA and NFL football season. The last few months of the year should see an enormous boom in the industry as football season rolls around and betting interest reaches a fever pitch once again.

Profile Pic.
About Brian Sausa

Brian Sausa is BonusSeeker’s Copy Editor and lead sports betting pundit. A journalism graduate with an extensive sports background, Brian has been employed by multiple professional leagues including MLB, MiLB (Minor League Baseball), and the NHL.

MLB, NHL, IBTimes, Brooklyn Cyclones, FanSided

Latest News
2019 US Open Tennis Odds And Picks Using DraftKings Sportsbook App

The final grand slam of the tennis season is fast approachin...

SPORTS PICKS AND PREDICTIONS
Chumba Casino Play On Facebook Ending August 20

Chumba Casino and its real cash prizes has been a fixture on...

GAMBLING INDUSTRY UPDATES
FedEx Cup Playoffs: Online Golf Betting Picks For Tour Championship

The first two FedEx Cup Playoff events are behind us and the...

SPORTS PICKS AND PREDICTIONS
Featured In
Business Insider
MarketWatch
Reuters
Yahoo! Finance
BonusSeeker.com and all content herein is intended for audiences 21 and older. BonusSeeker.com publishes news, information, and reviews about regulated online gambling operators, including, but not limited to casino, lottery, poker, and sports betting. You may see paid advertisements for online casinos, poker sites, and sportsbooks (including DraftKings, FanDuel, and others). You must be 21 years or older, and a US citizen to register at gambling sites in New Jersey, Pennsylvania, and other states. The information provided on BonusSeeker.com does not constitute advice, and we reserve that there is no way improve your chances of winning in online gambling. Always gamble responsibly. If you should require any advice for gambling-related problems, please call 1-800-GAMBLER.

© Copyright 2019 - All Rights Reserved. Privacy Policy - XML Sitemap