Here, we compare two of the most profitable iGaming industries in the United States. The New Jersey online casino and online sports betting industry remains the leader thanks to its record March gross gaming revenues.
The Pennsylvania iGaming market is closely following but it is still falling behind New Jersey online casinos. The Garden State legalized online casino gambling and sports betting activities within its borders in February 2013 through the bill A2578.
The Keystone State legalized those activities in October 2017 and it became the fourth state to allow online casinos and online sports betting sites to operate legally within its borders. The online gambling PA industry has been thriving ever since but not as much as the New Jersey industry that only in March 2021 generated impressive gross gaming revenues of approximately USD 359 million.
In the state, online gaming win increase by 75.45% and online casino operators won over USD 113 million from their online gamblers.
According to the reports released by the Pennsylvania Gaming Control Board, iGaming revenues in the state totaled over USD 98 million and this is a staggering increase of 293% when compared to iGaming revenues generated by Pennsylvania online operators in March last year. When compared to iGaming revenues of USD 78 million February, there is a rise even though not so substantial.
New Jersey and Pennsylvania Online Casino Revenues
In March 2021, New Jersey online casinos generated over USD 113 million from their players and this is the highest-grossing month for those casinos. This is also the second time that NJ online casino gaming venues generated over USD 100 million in revenues in a month, which may be in part due to the impact of the Covid related lockwodns.
The Keystone State is home to over 13 million people while the New Jersey state has a population of over 9 million people. Even though Keystone State is the fifth most populous state, it is falling behind the New Jersey iGaming industry.
Looking into its gross gaming revenues generated by its online casinos in March 2021, the industry is doubtlessly slowing down even though its March revenues went up by 11% when compared to February revenues.
The New Jersey iGaming industry generated over USD 359 in gross gaming revenues while the Pennsylvania iGaming industry generated just over USD 124 million including USD 26 million from sports bettors and USD 98 million from online casino gamers.
The most successful Pennsylvania online casino operator in March 2021 is Penn followed by Rivers, Valley Forge, Mt. Airy, Parx, Mogehan, Caesars, and Wind Creek.
- Penn: USD 33.5 million online revenues
- Rivers: USD 27 million online revenues
- Valley Forge: USD 16.3 million online revenues
- Mt. Airy: USD 7.2 million online revenues
- Parx: USD 6.1 million online revenues
- Mohegan: USD 3.4 million online revenues
- Caesars: USD 1.6 million online revenues
- Wind Creek: USD 1.3 million online revenues
Can Pennsylvania Grow Its Online Gross Gaming Revenues Faster?
When compared to gross gaming revenues generated by Pennsylvania online casinos in March 2021, every operator was more successful in March 2021 with Penn leading the way as the highest-grossing online casino operator.
Back in March 2020, Penn generated just over USD 2.6 million in online gross gaming revenues while one year later, it generated over USD 33.5 million and the difference is huge. Parx went from USD 2.6 million generated in March 2020 gross gaming revenues to generating over USD 6.1 million in March 2021. Rivers went from USD 6.7 million generated last year in March to USD 27 million in March 2021 gross gaming revenues.
Back in December 2021, online gambling revenues soared as well. For the Pennsylvania online casino gaming market, 2020 was a great year, and taking look into its gross gaming revenues from the first three months of 2021, this year may be another great year.
However, when we look at the thriving New Jersey online gaming market, the Keystone State can grow its gross gaming revenues faster and probably will in the months to come.