SugarHouse Sportsbook Makes Presence Felt In PA Sports Betting Market

SugarHouse Sportsbook Makes Presence Felt In PA Sports Betting Market

Pennsylvania sports betting is already showing the ability to be a huge money-maker and the sportsbook from SugarHouse Casino PA is a big reason why.

Pennsylvania sports betting has only been legal for a few months, but the market is already showing the ability to be a huge money-maker. The first of the PA online casinos to opens its doors for legal sports betting was Hollywood Casino in Nov. 2018. Since that time, the Keystone State has generated a total handle of nearly $126 million for legal sports betting, according to the Pennsylvania Gaming Control Board.

Despite not launching until December 2018, the sportsbook opened by SugarHouse Casino Pennsylvania has certainly produced its share of that revenue handle and is establishing itself as one of the leading PA sports betting operators in PA.

SugarHouse Casino Sportsbook A Close Second Behind Rivers Casino PA

When it comes to revenue of PA sports betting operators, SugarHouse Casino Sportsbook is among the leaders. Since its December 2018 launch, SugarHouse Sportsbook PA has pulled in more than $32.65 million in handle and a gross revenue of over $2.5 million. Those figures come in at a close second, just behind Rivers Casino PA, which has totaled $35.17 million in handle and $3.89 million in gross revenue through March 2019.

SugarHouse Sportsbook

Dec. 2018

Jan. 2019

Feb. 2019

March 2019

2018-19 Total

Handle

$5,539,806

$10,795,121

$7,091,933

$9,223,827

$32,650,688

Gross Revenue

$642,213

$103,523

$522,308

$1,237,301

$2,505,345

State Tax Due (34%)

$218,353

$35,198

$177,585

$420,682

$851,817

Local Share Assessment (2%)

$12,844

$2,070

$10,446

$24,746

$50,107

SugarHouse Casino may be in second place at the moment, but it’s been a major player in the PA sports betting industry from the beginning. It was the first Pennsylvania sports betting operator to register a handle in the double-digit millions for a single month, totaling almost $10.8 million in January 2019.

After a dip February’s revenue, SugarHouse Sportsbook PA took huge advantage of the increase in PA sports betting due to March Madness with $9.22 million in revenue. Along with Rivers Sportsbook PA, SugarHouse Casino Sportsbook is the  only one to cross the $30 million threshold in total revenue.

SugarHouse Sportsbook Waiting On PA Online Sports Betting

In addition to the continued growth of PA sports betting at brick-and-mortar venues, Pennsylvania operators like SugarHouse Sportsbook also want to take advantage of the burgeoning online sports betting scene from which neighboring New Jersey has been generating enormous profits for several months. SugarHouse Casino has experience in the NJ sports betting market, running its business out of Monmouth Park and operating a successful NJ online sportsbook as well.

There’s been over $52 million of NJ online sports betting revenue in this calendar year alone, and there’s no reason why Pennsylvania wouldn’t be able to achieve its own massive revenue boost once PA mobile sports betting establishes itself. As widely reported, PA online sports betting is expected to launch by Summer 2019 and should provide a significant uptick in earnings for the state of Pennsylvania as well considering the 34 percent tax rate.  

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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

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