Pennsylvania generates $500k in first weeks of legal wagering

Pennsylvania generates $500k in first weeks of legal wagering

Wednesday, December 19, 2018 Posted by News Team
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Total represents first 15 days of betting at Penn National's Hollywood Casino

The Pennsylvania Gaming Control Board (PGCB) has revealed that the state’s sole legal sportsbook generated revenue of $508,996.60 in its first fifteen days live.

Penn National Gaming’s William Hill-powered sportsbook at the Hollywood Casino generated the revenue from stakes of $1.4m in the 15 days ended November 30. This included two ten-hour trials, conducted on November 15 and 16, after which the PGCB ratified a full launch. 

The state received $183,238.77 in taxes for the period, of which $173,058.84 went to the state from the 34% tax on gross revenue. A further $10,179.93 went to the local authority in which the venue is based, per a 2% revenue tax. 

The state’s figures for December will be significantly higher, with the Pittsburgh-based Rivers Casino and Philadelphia’s SugarHouse Casino both launching wagering from December 15, following a two-day trial. Others, such as Greenbrier Gaming’s Parx Casino, are expected to follow in the coming weeks. 

The PGCB also revealed that its daily fantasy sports market enjoyed a strong month in November, with revenue up 11.7% from October at $3.2m. This was primarily due to the continued dominance of Draftkings and FanDuel, which accounted for 97.8% of market revenue. 

From seven of the state’s nine licensed fantasy sports operators, Pennsylvania received taxes of $486,174.15.

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