COVID-19 hit the casino industry pretty hard in Pennsylvania. Lockdowns went into place and casinos were forced to close their doors along with restaurants and other industries.
So how is the state casino industry still seeing growth?
The secret is in online casinos.
What happens in PA, stays in PA
As of 2019, all forms of online gambling are legal in the state:
- Online casinos
- Sports betting
Pennsylvania’s 12 land-based casinos were forced to either shut down or operate at a limited capacity, causing the industry to see record losses in revenue.
Meanwhile, online casinos flourished.
How online casinos are changing the revenue stream
Every online casino in PA is partnered with a land-based casino through a licensing agreement. For example, DraftKings is paired up with Hollywood Casino and Caesars Casino is with Harrah’s.
When it comes to revenue, online casinos in PA are high rollers!
FanDuel’s online casino saw an 88% increase in year-to-year numbers, equating to a $13 million increase in revenue.
PokerStars saw a 54% increase and Borgata Online reported a 40% bump.
Overall by the end of 2020, revenue from online gaming in PA came in at $55.4 million, a 94% increase compared to 2019.
And the projections for 2021 are for those numbers to continue going up. With great players like we have in PA, it’s evident that the sky is the limit for online gaming.