Two months after its online sports betting site launched in Pennsylvania, PointsBet PA is in a state-monitored test period for its iCasino.
The Australian-based gaming operator began its soft launch of digital slots and table games Tuesday, with a second day scheduled Wednesday from 2 p.m. to midnight. Assuming there are no difficulties, it can expect the Pennsylvania Gaming Control Board to approve permanent operations Thursday.
The addition makes PointsBet the 18th online casino operator in the state, in an industry that has been earning more than $100 million on a monthly basis. It gained access to the state through an agreement with Penn National Gaming.
“Just a few short months after launching PointsBet in the state, we’re excited to now be able to introduce the Pennsylvania market to our innovative online casino product,” Aaron O’Sullivan, PointsBet’s vice president of online casino revenue, said in a press release. “At PointsBet, we pride ourselves with our ability to not only deliver our users with the best-in-class sports betting product but the best-in-class casino content as well — creating a holistic PointsBet user experience.”
Pennsylvania becomes PointsBet’s fourth online casino state in the U.S., following Michigan, New Jersey, and West Virginia. It also has launched Canadian iGaming operations in Ontario.
Its sportsbook took revenue loss last month
While iGaming operators generally can make more revenue from casino games than sports betting, PointsBet may be better known to consumers for sports wagering due to its unique PointsBetting option that enables customers’ wins and losses to grow according to a contest’s margin of victory. PointsBet’s sportsbook is available in 10 U.S. states plus Ontario.
The sportsbook debuted in Pennsylvania the week before the Super Bowl in order to take advantage of the year’s biggest betting event.
In just its partial month of operations in February, PointsBet became the ninth-biggest Pennsylvania operator in handle among 14 digital sportsbook sites. It took $7.9 million in bets.
As was the case with six of its competitors, however, it sustained a revenue loss. It had $855,495 in gross revenue but gave away nearly $1.1 million in credits, resulting in adjusted revenue of -$219,709.
