The PA sports betting revenue report for April 2019 is available, and it features various industry developments in the Keystone State. As PA sports betting continues in its first full year of existence, the pecking order could be in flux, according to official revenue numbers from the Pennsylvania Gaming Control Board.
The first thing to notice is that Rivers Online Sportsbook is the industry leader and SugarHouse Online Sportsbook PA remains a close second. The two have combined to generate nearly $85 million in handle and over $8 million in PA sports betting revenue. The order of most lucrative PA casinos, however, seems to be ever-changing with Parx Sportsbook and Hollywood Sportsbook in competition for the next spot on the list.
Parx Casino Sportsbook Officially Passes Hollywood Casino
Parx Casino Sportsbook in Bensalem launched in the New Year, which means it only has four months of figures to look at. Despite being one of the newer brands on the block, Parx has achieved success to this point and is steadily rising up the ranks of PA sports betting operators. After taking almost $6.9 million in bets during April, Parx Casino Sportsbook passed by Hollywood for the third spot on the PA sports betting revenue handle list.
|
Parx Sportsbook |
Jan. 2019 |
Feb. 2019 |
March 2019 |
April 2019 |
2018/2019 Total |
|---|---|---|---|---|---|
|
Handle |
$5,382,620 |
$6,965,512 |
$7,965,932 |
$6,850,305 |
$27,164,369 |
|
Gross Revenue |
$1,170,348 |
$369,996 |
$984,339 |
$907,298 |
$3,431,981 |
|
State Tax Due (34%) |
$397,918 |
$125,779 |
$334,675 |
$308,481 |
$1,166,873 |
In its opening month, Parx Sportsbook impressively surpassed Hollywood’s three-month revenue with over $1.1 million earned and has also earned more revenue than Hollywood in all four months since launch. Parx Casino Sportsbook led the industry with $907,298 in April gross revenue., and that includes beating out Rivers and SugarHouse. As 2019 rolls on, it appears clear that Parx is making an impact, and that should only continue once the PA online sports betting is under way.
Hollywood Casino Sportsbook Slips Into Fourth Place In Handle Behind Parx
Hollywood Casino Sportsbook, located at Penn National Race Course in Grantville, became the first PA sportsbook to accept a wager in November 2018. It has something Parx Sportsbook doesn’t have: two extra months on the PA sports betting market. The million-dollar in handle head start helped Hollywood build a lead in handle on Parx that it has maintained until April’s numbers from the PGCB were released.
|
Hollywood Sportsbook |
Nov. 2018 |
Dec. 2018 |
Jan. 2019 |
Feb. 2019 |
March 2019 |
April 2019 |
2018/2019 Total |
|---|---|---|---|---|---|---|---|
|
Handle |
$1,414,587 |
$5,051,730 |
$4,817,151 |
$3,742,820 |
$5,337,483 |
$3,923,499 |
$24,287,269 |
|
Gross Revenue |
$508,997 |
$299,222 |
$284,624 |
$13,914 |
$521,864 |
$361,249 |
$1,989,870 |
|
State Tax Due (34%) |
$173,059 |
$101,736 |
$96,772 |
$4,731 |
$177,434 |
$122,825 |
$676,556 |
At over $24 million in handle and nearly $2 million in revenue over six months Hollywood Sportsbook is capitalizing on being the first casino to offer Pennsylvania sports betting even if its peers are moving at a faster pace. A slow February means overall revenue and handle numbers took a massive hit, but March and April have seen Hollywood Casino Sportsbook rebound a bit. With PA online sports betting on the horizon, Hollywood should be able to continue expanding its brand in time to make large chunks of revenue during NFL and NCAA football season once the summer ends.