Pennsylvania Gaming Revenue Hits $547.1M, Down 7.4% from January as Sports Betting Declines

Pennsylvania’s regulated gaming market generated $547.1 million in total revenue in February 2026, marking a 14.64% year-on-year increase. However, compared to January’s $590.6 million, the market recorded a 7.4% month-on-month decline, reflecting a post-peak correction driven primarily by sports betting.

Total tax revenue declined from $249.97 million in January to $236.02 million in February, highlighting the state’s exposure to seasonal fluctuations in gaming activity.

Full Market Comparison: January vs February 2026

Total Gaming Revenue

• January: $590,644,755
• February: $547,103,943
• Change: ↓ 7.4% MoM

Sports Wagering: Primary Driver of Decline

• Revenue
  
  • January: $71,393,613
  • February: $37,844,313
    
  • Change: ↓ 47% MoM
    
• Handle
  
  • January: $782,423,791
  • February: $592,462,454
  • Change: ↓ 21.7% MoM

Operator Snapshot (Sportsbooks)

• Valley Forge Casino Resort: $27.6M → $18.1M
• Hollywood Casino at the Meadows: $22.7M → $9.8M
• Hollywood Casino York: $5.6M → $2.9M

The decline was broad-based across all major operators, confirming a market-wide normalization rather than operator-specific weakness.

iGaming: Core Revenue Engine Remains Stable

• Total iGaming Revenue
  
  • January: $249,301,331
  • February: $239,922,058
  • Change: ↓ 3.8% MoM

iGaming Breakdown

January

• iSlots: $194,825,533
• iTables: $51,971,610
• iPoker: $2,504,189

February

• iSlots: $191,485,327
• iTables: $46,228,126
• iPoker: $2,208,606

Operator Leaders (iGaming)

• Hollywood Casino at Penn National: $96.2M → $92.7M
• Valley Forge Casino Resort: $67.2M → $64.0M
• Rivers Casino Philadelphia: $40.1M → $38.7M
  

These three operators continue to dominate Pennsylvania’s iGaming market, accounting for a significant share of total digital revenue. This builds on earlier growth milestones, including Pennsylvania iGaming revenue surpassing $600 million in 2025.

Tax Contribution (iGaming)

• January: $113.9M
• February: $111.1M

Retail Casino Segments: Stable but Secondary

Retail Slots

• January: $189,098,891
• February: $192,085,556
• Change: ↑ 1.6% MoM
• Tax (Jan): $95.57M

Retail Table Games

• January: $75,781,693
• February: $72,647,914
• Change: ↓ 4.1% MoM

Retail performance remained relatively stable, providing a consistent revenue base compared to more volatile digital segments.

Video Gaming Terminals (VGTs): Consistent Baseline

• January: $3,193,118
• February: $3,220,992
• Change: ↑ 0.9% MoM

Fantasy Contests: Event-Driven Decline

• January: $1,876,110
• February: $1,383,109
• Change: ↓ 26.3% MoM

Operator Performance: Key Movers

• Hollywood Casino at Penn National
  
  • $111.4M → $106.8M
    
• Valley Forge Casino Resort
  
  • $105.8M → $93.7M
    
• Rivers Casino Philadelphia
  
  • $57.2M → $56.1M
    

Notable Growth (YoY)

• Hollywood Casino Morgantown: +187.5%
• Hollywood Casino at the Meadows: +81.5%

These outliers highlight localized growth pockets despite overall monthly contraction.

Market Structure: What the Data Shows

1. Sports Betting Drives Volatility

A ~$33 million drop in sports wagering revenue accounts for the majority of the overall market decline.

2. iGaming Dominates Revenue Mix

• ~44% share of February revenue
• Most consistent and scalable vertical

3. Retail + VGT Provide Stability Layer

These segments continue to deliver predictable, low-volatility revenue, supporting overall market resilience.

4. Tax Revenue Tracks Market Cycles

The ~$14 million decline in tax revenue underscores how closely state earnings are tied to sports betting performance.

Conclusion

Pennsylvania’s February results reflect market normalization rather than slowdown.

While sports betting drove a sharp month-on-month decline, iGaming maintained strong performance and continues to anchor the market, supported by stable retail and VGT contributions.

The structural shift is clear:
iGaming is the primary revenue engine, while sports betting acts as a seasonal volatility driver.

Source : PA Gaming Control Board