Thanks to a more than 25% increase in online gaming revenue, the Pennsylvania Gaming Control Board (PGCB) reports that 2024 saw combined gaming revenue reach a record high, crossing $6 billion for the first time in a calendar year.
The PGCB announced that the total gaming revenue for 2024 was $6,137,414,455, which is 7.73% higher than the 2023 total of $5,697,218,115.
This number includes revenue from slot machines, table games, sports betting, online gaming, video gaming terminals, and fantasy contests.
Pennsylvania State Tax Revenue Also Sets Record
In 2024, the state collected $2,663,575,443 in tax revenue and annual slot machine license fees through these gaming activities.
This is the highest amount ever returned to the state in a calendar year, surpassing the $2,454,273,306 generated in 2023. The tax revenue figures are provided before any adjustments by the PA Department of Revenue.
A comparison of combined revenue (through the years) is below:
Online Gaming Offsets Traditional Casino Decline
The Pennsylvania Gaming Control Board reported that while revenue from slot machines and table games decreased compared to 2023, the online gambling increase overshadowed the declines.
Slot machines saw the smallest decline, while the use of sports betting saw the second biggest increase behind online gaming.
Here's a breakdown of the changes in revenue for 2024:
- Slot machine revenue dropped by 0.66% to approximately $2.4 billion.
- Table games revenue fell by 3.53% to $937 million.
- Online gaming revenue surged by 25.25% to $2.2 billion.
- Sports betting revenue increased by 11.36% to about $511 million.
- Revenue from video game terminals rose by 0.7% to over $41 million.
- Fantasy contests revenue decreased by 7.08% to $18.7 million.
Overall, Pennsylvania's gambling revenues in 2024 grew by 7.73% to over $6.1 billion, according to the gaming control board.
PA Multi-State Online Poker Agreement Expected Soon
The record breaking revenue figures come at a time when Pennsylvania is getting closer to joining the Multi-State Internet Gaming Agreement (MSIGA). This will allow online poker players to play against each other across state lines.
Doug Harbach, the Communications Director for the Pennsylvania Gaming Control Board, confirmed that Pennsylvania has been officially invited to join and is now waiting to review the necessary paperwork.
Harbach mentioned that if they agree and sign off, it will still take some time to finalize the process, as they'll need to work with operators to ensure all legal and regulatory requirements are met.
Governor Josh Shapiro supports Pennsylvania's entry into this agreement. Harbach also noted that they expect to launch in the first quarter of 2025.
This timeline suggests that online poker rooms in Pennsylvania, such as bet365 Online Casino PA, BetMGM Poker PA, Borgata Poker PA, BetRivers Casino PA and Golden Nugget Online Casino, could link up with other states in the compact before the end of May..
MSIGA includes five states: Delaware, Nevada, New Jersey, Michigan, and West Virginia.
Pennsylvania Online Casinos Continue to Grow
The multi-state poker pact is only one of the things that may fuel an even bigger 2025 when it comes to gaming revenue in The Keystone State.
Caesars recently launched a live dealer studio in Pennsylvania. It includes Five blackjack tables, a roulette table, and a baccarat table.
The new Hollywood Casino app was also recently launched. After what turned out to be a banner year for Pennsylvania online casinos, it appears the state is in store for even more.
