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Most Pa. casinos see lower over-year revenue after June reopening
Stacy Wescoe//July 16, 2020//
In June, 11 of Pennsylvania‘s 12 casinos reopened their doors for the first time since the COVID-19 shutdown in mid-March and most are reporting a drop in gaming revenue.
But one did not.
Valley Forge Casino had a nearly 16% increase in gaming revenue over last June. It took in $12.9 million in June 2020 as compared to $11.2 million in June 2019, according to the Pennsylvania Gaming Control Board.
The news wasn’t as good for Wind Creek Bethlehem, which had the largest drop off of all casinos — 92.5% — taking in only $3.2 million in June 2020 as compared to $43.4 million in June 2019.
Mount Airy Casino Resort in Mount Pocono fared better. It saw only a 4.3% decrease in gaming revenue over June of last year. It took in $15.1 million in June 2020 compared to $15.8 million in June of last year.
It should be noted that most casinos did not open until mid- to late- June.
The revenue includes slot machines, table games, internet gaming, retail and internet sports wagering, fantasy contests and video gaming terminals. Wind Creek Bethlehem does not have its sports wagering set up.
Even with a decreased amount of sports to bet on, those who study the gaming industry are expecting wagering to continue to be a major profit driver for the state’s casinos.
“Online gambling will continue to be a force for the foreseeable future,” said Dustin Gouker of PlayPennsylvania. “Online and retail sportsbooks, like brick-and-mortar casinos, will navigate an uncertain landscape as long as the pandemic is ongoing. If a setback can be avoided, though, the return of major sports later this month will be huge for the industry.”
The Gaming Control Board reported that Sportsbooks generated $89 million in wagers in June, up 14.8% from $77.5 million in May.
