The American gambling market recorded record revenue of $17.63 billion in the second quarter of this year, and online gambling played a major role in that. Revenue figures from the country’s major online gambling states in July served as an example.
Pennsylvania, New Jersey and Michigan all saw significant gains, but New Jersey’s live casino revenue remained weak. Here’s a look at all the numbers.
Pennsylvania
Massive gambling growth continued in the Keystone State in July, with the Pennsylvania Gaming Control Board reporting total revenue from all forms of gambling of $500.8 million, up 7.2% from July 2023. The industry leader was Hollywood Casino at Penn National Race Course, with revenue of $79.5 million, up 13.4% from $70.1 million a year earlier.
In online gaming, the state reported monthly gross revenue of $174.3 million, up 31.2% from $132.9 million in July 2023. Here’s what the breakdown by game type looks like compared to July 2023.
● Online Casino – $125.4 million (up 32.2%)
● Online table games – $46.5 million (down 4.8%)
● Online poker – 2.3 million (down 13%)
Total sports betting revenue in July was $414.7 million, up 22.52% from $338.5 million in 2023. Taxable revenue was $38.6 million, up 20.2% from $32.1 million last July. Of that, $35.1 million was from online sports revenue.
Total tax revenue from all forms of gambling was $207.7 million. This comes after Pennsylvania recently announced it expects record tax revenues of $2.54 billion for the 2023-24 fiscal year.
New Jersey
According to the New Jersey Division of Gaming Enforcement, total live casino revenue in July was $272.3 million, down 6.1% from $290 million last July. Revenue for the state’s nine casinos was $1.63 billion year to date, down 1% from July 2023.
Declining live casino revenues over the past year have worried lawmakers and other industry observers.
“Many had hoped that summer 2024 would see a rebound in drive-in attendance at Atlantic City casinos after last year’s trend of people taking their ‘dream vacation’ and flying to destinations, but July’s in-person gambling numbers suggest that is not the case,” Jane Bokunewicz, director of Stockton University’s Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism, told NorthJersey.com.
Online gaming continued its strong growth, with operators reporting revenue of $195.4 million, up 25.9% from $155.2 million last July. Year-to-date revenue was $1.33 billion, up 22% from $1.09 billion in the same period in 2023. Online poker brought in $2.6 million in July, down slightly from $2.7 million a year earlier.
Sports betting revenue increased significantly to $80 million in July, up 31.2% from $61 million in 2023. Year-to-date gross revenue was $653.1 million, up 30.1% from $501.8 million in the same period last year.
Online gaming has boosted the numbers for all forms of gaming. Total gaming revenue in July was $547.8 million, up 8.2% from $506.2 million in July 2023. Total year-to-date gaming revenue is $3.61 billion, up 11.5% from $3.23 billion last year.
Michigan
Online gambling overall saw significant gains in the Wolverine State in July. According to the Michigan Gaming Control Board, operators reported gross online casino and sports betting revenue of $220.9 million in July, a 3.2% increase over June.
Online casinos accounted for $191.4 million, up from $183.2 million in June. Michigan includes online poker in its total online casino revenue. Sports betting totaled $29.42 million, down slightly from $30.9 million the previous month.
Combined adjusted gross revenues (AGR) totaled $189.5 million in July, of which $172.3 million came from iGaming and $17.2 million from sports betting. This represents a 4.7% increase in iGaming and a $45.4 million increase in sports betting compared to June. iGaming AGR Online sports betting revenue was $250.2 million, down 9.6% from $276.8 million in June.
The operators paid $37.1 million in taxes and fees to the state, and the tribal operators made $4.5 million in payments to government agencies in July.
