Pennsylvania's online gaming hits several milestones, as the industry starts the year on the right path
Pennsylvania continues to strive for top spot in the US iGaming industry. Operators and iGaming channels, not including sports betting, registered a combined revenue in excess of $80million.
This combined revenue for online casinos and poker rooms for January amounts to a daily average of $2.5million and a month-on-month increase of 12.3%.
This increase shows the continuing growth of the industry with seven out of ten licence holders experiencing a growth in revenue, with only three registering a drop.
Moreover, when looking at year-on-year growth, the market has registered a market growth of 476% for January. This is due to the fact that in January 2020, the market was still maturing and operators were in the process of launching prior to the pandemic.
Another important fact to note about Penn's iGaming market is that since it was legalised 18 months ago, only one month experienced a drop in revenue. This month's performance comes in at number two since Penn's retails casinos reopened - with December taking top spot.
Penn's key performers:
- Penn National - $27.6million
- Rivers - $21million
- Valley Forge - $14.75million
Penn's sports betting scene in January 2021
Pennsylvania's sportsbooks registered another record in sports betting handles with the amount wagered reaching $615,294,827 - an increase of 12% when comparing month-on-month.
One of the main factors of this month-on-month increase is due to retail sportsbooks making a comeback. Back in December, casinos were shut down for a few weeks, resulting in retail betting dropping to $13.4million with revenue of $1.2million.
January, however, registered a sports betting handle of $35.4million and revenue of $4million.
Pennsylvania is known for its sporting culture with cities such as Philadelphia and Pittsburgh all falling under the state. In 2020, Penn reached third place in total sports betting handle - falling behind Nevada and New Jersey.
The SiGMA Roadshow
The SiGMA Roadshow is stepping up its game; now virtual, the webinar will take on a new jurisdiction every month, targeting a global agenda of gritty conference topics and a small, yet buzzing expo floor. Hosted on an interactive platform, the 2 hours mini conference will delve into 5 key areas of debate, bringing key themes specific to the region - such as regulation, tax and compliance, and emerging tech, to a table of thought leaders and academics at the top of their game. The SiGMA Virtual Roadshow will reflect SiGMA’s global events opening in 5 major regions over the next few years, specifically Europe, the CIS region, Asia, the Americas, and Africa. The monthly event, which launches with a worldwide tour of 14 countries, starts off with the recently legislated Ukraine, and will be published via podcast.