Market Monitor: Pennsylvania August 2023 – Pennsylvania’s online poker market fell 11% to $2.4 million last month.
PokerStars remains the market leader with a 61% share, and WSOP is the weakest performer.
Pennsylvania’s online casino market grew 36% year-over-year to a near-record $143 million.
Hollywood licensees, primarily DraftKings and BetMGM, generated $60 million in revenue, accounting for 42% of the market.
Two new operators, Bally’s and DraftKings’ Golden Nugget, have launched in recent months and are expected to join the market’s middle tier.
The PA online poker market fell 11% to $2.4 million last month, one of its weakest months in a while.
There was little change in the make-up of the market. PokerStars (Mount Airy) remains on top with a market share of 61%. It fell 11% year-over-year, in line with the market. WSOP (Harrahs) continues to be the market’s weakest performer, falling 21% on the same month a year ago to just $505k (21%).
That leaves the pair of sites on the BetMGM network — BetMGM and Borgata — to 18% market share combined, just shy of WSOP’s total. However, year-over-year the pair grew 6%.
The PA online casino market reached $143 million last month, the second highest on record. It represents growth of 36% year-over-year, the best in ten months.At the top, no major changes: Hollywood licensees (primarily DraftKings and BetMGM) remain far clear at the top, reporting collectively $60 million in revenue last month, its second best in market history. It generated 42% of market revenue last month.Valley Forge (FanDuel) and Rivers-Philalphia (BetRivers, Borgata, Sugarhouse) sit second and third, respectively, taking 23% and 20% of the market.The remaining 15% is split up between eight other licensed online casinos, though one, Twin Spires, shut down in July. Of the remaining seven, all but one between $1.5 million to $6 million to carve out a single percentage point of market share.Among these, two launched in the last few months as Qualified Gaming Entities , new license designations that do not require partnership with a retail casino.Bally’s went live a few months ago , and strong growth in August put it […]
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