PA Table Games Continue Hot Streak in November, While Slots Post Rare Year-Over-Year Gains

0

Key takeaways

  • PA casinos banked 1.57% more compared with last November
  • Slots revenue was up Y/Y for only second time in 14 months
  • Table game revenue was up for ninth month in a row Y/Y
  • Parx eclipsed half a billion in 2017 revenue

Pennsylvania casinos took in $253,560,446 in the month of November, a 1.57% year-over-year increase, according to figures released by the Pennsylvania Gaming Control Board.

Slots make rare gains

PA slot revenue, which recently suffered through 11 straight months of year-on-year decreases, was up 1.08% over the same period in 2016. Parx took the lion share of the $181,329,650 total, raking in $30,204,311, while Sands secured the second spot with $24,112,133. Rivers rounded out the top three with a $20,957,992 haul.

Pennsylvania regulators tax land-based slots at a rate of 54%, and will do the same at the state’s online casinos when they open later this year. The rate, while more than three times that charged in New Jersey, is sustainable for PAs brick-and-mortar casinos, which can make extra profit by offering services unrelated to gambling. For online casinos, which won’t be able to leverage such peripheral revenue opportunities, the rate will be crushing, however.

Instead of seeing heavy promotion of slots, which are traditionally the biggest iGaming revenue driver, expect to see operators lowering payback percentages on the machines, while shifting their focus to table games.

Table game revenue continues its rise

Table game revenue in November was up for its ninth straight month year-over-year, a marked difference from slots, which have been mostly trending in the opposite direction. In total, the state’s 12 casinos banked $72,230,796 at the tables for the month, a 2.84% bump over the same time frame last year.

Sands was dominant in the category, taking in $20,112,687, with Parx in a distant second with $13,701,168. SugarHouse followed with a total of $10,574,515, an over $1 million increase from its October figure.

Will Sands resist iGaming?

As one of the state’s top earning casinos, Sands would be perfectly positioned to take advantage of PA’s new online gambling law. Company CEO Sheldon Adelson, however, is a staunch opponent of iGaming, and has waged an expensive and wide-ranging war against the industry.

While the casino mogul’s fight is ostensibly about protecting society’s most vulnerable from problem gambling, others believe that it is nothing more than a cynical ploy to protect his brick-and-mortar casinos from online competition. Now that he has lost his battle in Pennsylvania, some think that there is a small possibility that Sands may give in and participate in the industry anyway.

Parx revenue eclipses half a billion in 2017

In the first 11 months of the year, Keystone State casinos banked $2,963,451,443. Parx is currently the top grossing casino in 2017, with $518,358,178 in revenue, with Sands taking in just under $500 million. Unlike Sands, Parx has already confirmed it will launch its own online casino site, and has formed a partnership with software provider GameAccount Network. We expect to know more about these brick-and-mortar/online casino alliances in the near future.

Total November 2017 revenue

CasinoSlotsTable GamesTotal Win
Mohegan Sun$15,783,983$3,341,666$19,125,649
Parx$30,204,311$13,701,168$43,905,479
Harrah's$15,095,005$4,479,198$19,574,203
Presque Isle$8,741,501$1,000,630$9,742,131
Meadows$16,076,981$3,239,834$19,316,815
Mount Airy$11,823,940$3,609,738$15,433,678
Penn National$15,937,534$2,750,823$18,688,357
Sands Bethlehem$24,112,133$20,112,687$44,224,820
The Rivers$20,957,992$5,690,081$26,648,073
SugarHouse$14,226,497$10,574,515$24,801,012
Valley Forge$6,246,268$3,303,695$9,549,963
Nemacolin$2,123,505$426,761$2,550,266
November Totals$181,329,650$72,230,796$253,560,446

Total 2017 revenue

CasinoSlotsTable GamesTotal Win
Mohegan Sun$188,374,388$39,002,627$227,377,015
Parx$355,471,460$162,886,718$518,358,178
Harrah's$182,465,036$59,835,215$242,300,251
Presque Isle$103,492,903$13,666,427$117,159,331
Meadows$197,708,570$33,693,029$231,401,599
Mount Airy$137,157,487$46,729,361$183,886,849
Penn National$192,176,106$32,889,218$225,065,325
Sands Bethlehem$277,858,206$222,101,783$499,959,989
The Rivers$246,682,607$59,653,658$306,336,265
SugarHouse$163,565,471$109,076,980$272,642,451
Valley Forge$75,662,551$31,218,483$106,881,034
Nemacolin$27,983,728$4,099,429$32,083,157
2017 Totals$2,148,598,514$814,852,929$2,963,451,443
Bill Grinstead

Bill has over a decade of experience working in diverse aspects of the online gambling space. He is currently focused on legal, US online gaming, which he has reported on since the industry first became regulated in the country.

Comments are closed.