Pennsylvania regulator reports record-setting gambling figures for FY 2022/23 in its 17th Annual Report
The Pennsylvania Gaming Control Board has released its 17th Annual Report, which provides individual revenue figures during another record-setting fiscal year for slot machines, table games, sports wagering, internet gaming, fantasy sports contests, and video gaming terminals at eligible truck stops during the July 1, 2022 – June 30, 2023 period.
In the report, Kevin O’Toole, the PGCB’s Executive Director, hailed the transformation of the agency into “one of the most respected and effective gaming regulators in the world,” and added that proposed regulators in markets that are developing gambling frameworks are coming to Pennsylvania for advice and knowledge.
“Worldwide jurisdictions have, over recent years, reached out to PGCB staff to gain expertise and knowledge as they set up their own gaming marketplaces and regulatory oversight,” he stated.
“In some cases, representatives of those regulatory bodies have visited us in Harrisburg to gain first-hand knowledge of how we effectively regulate. As an example, representatives from the Bahamas spent several days in our Harrisburg office and we gladly spent time with them,” the executive stated.
Kevin O’Toole
As per the report, throughout the fiscal year, the regulator handed out over $672,000 in consent agreement fines, which were given out for violations uncovered from patrons’ complaints, audits by PGCB staff or Department of Revenue staff, or through observations by PGCB staff on-site at each casino or online platform. Meanwhile, the regulator placed 135 patrons on the Involuntary Exclusions List.
The PGCB also updated stakeholders on the performance of the market throughout the period, in which sports betting and iGaming both enjoyed significant upticks in revenue.
The PGCB released its two important annual reports this past week. These reports, providing transparency on the oversight of the gambling industry and that industry’s adherance to diversity expectations in their hiring, can be accessed on our homepage: https://t.co/Aq8aiQcPer pic.twitter.com/oHqUpyKGtg
— PGCB (@PAGamingControl) October 1, 2023
Sports betting handle throughout FY22/23 amounted to $7.2 billion, which marked an increase of 2% year-over-year. However, operators fared much better in terms of revenue, which jumped 56% year-over-year to $491 million. Revenue was broken down into $440.5 million in takings from online sports betting, while $51.5 million was made from retail sportsbooks.
Meanwhile, online casinos also witnessed a rise in revenue throughout the period. iGaming operators generated $1.5 billion, up 24% from the prior year. For the first time, online slot games yielded $1 billion in revenue in a year, up 26.5%, whilst online tables revenue also grew 22.6% to $428 million. As for taxes, online casinos generated $652 million in taxes for the state, also up 24% year-over-year.
The PGCB was established in 2004 through the passage of the Pennsylvania Race Horse Development and Gaming Act. The regulator oversees all aspects of gambling in the Commonwealth which, at the close of the fiscal year included 17 land-based casinos, 19 retail sports wagering locations, 13 online sports wagering sites, 20 sites to participate in online casino-type games (slot machines, table games, poker); 69 truck stop establishments with Video Gaming Terminals (VGTs); and,11 online fantasy sports contest sites.