Pennsylvania Casinos Post Strong Revenue Numbers in February

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Pennsylvania’s 12 land-based casinos are on pace for another record-setting year, thanks to some very strong February revenue numbers. In February, the state’s casinos posted nearly double digit year-over-year growth in slot revenue (+9.3%) to go along with some solid growth numbers on the table game revenue front, where the industry was up 6.7%. Overall, total casino revenue in Pennsylvania was up 8.6% in February year-over-year. Helping the YoY numbers was the simple fact that February of 2016 had an extra day, but even accounting for the leap year, revenue was still up from February of 2015 by nearly 5%. 2016 revenue on pace for new record The strong numbers in February of 2016 come on the heels of a solid performance in January that saw total casino revenue up 3.6% year-over-year. Making this all the more impressive, in terms of gross gaming revenue, 2015 was the best year on record in Pennsylvania casino history, and 2016 is on pace to blow it out of the water. Here is a look at the year-to-date tally for Pennsylvania’s casinos:
January 2016 GGR -$255,905,078 (+3.6%)
February 2016 GGR – $268,354,231 (+8.6%) The industry as a whole is up 5.8% year-to-date:
2016 gross gaming revenue YTD = $524,259,309
2015 gross gaming revenue YTD = $494,180,239 With the current growth trend, the Pennsylvania gaming industry is on pace to generate $3.357 billion in 2016, which would be the most the industry has ever produced in a single calendar year.
2006: $31,567,926
2007: $1,039,030,723
2008: $1,615,565,758
2009: $1,964,570,480
2010: $2,486,408,061 (table games introduced)
2011: $3,024,772,959
2012: $3,158,317,863
2013: $3,113,928,591
2014: $3,069,077,597
2015: $3,173,787,012 Who’s up in PA Presque Isle Downs and Casino
February 2016 revenue: $10,801,447 (2015: $9,154,336)
YoY change +17.99% The biggest percentage increase in February was Presque Isle, which, if we eliminate the two resort casinos, is the state’s worst performing casino when it comes to revenue. Mount Airy Casino Resort
February 2016 revenue: $15,123,613 (2015: $12,937,613)
YoY change +16.90% Mount Airy is also on the low end of casino revenue in Pennsylvania. That being said, if Mount Airy can continue this growth trend, they could find themselves on par with Hollywood Casino and Meadows Casino. Sands Bethlehem
February 2016 revenue: $42,594,634 (2015: $37,333,797)
YoY change +14.09% The last time Sands Bethlehem could lay claim to the title of top monthly revenue generator was September of last year. Since that time Parx has not only been beating Sands, but widening its margin. Still, Sands posted a 14% gain this month compared to February of 2015, and should be quite happy with its February tally. The Meadows Casino
February 2016 revenue: $21,428,128 (2015: $18,948,730)
YoY change +13.08% A solid month for Meadows — the casino posted double-digit growth — kept the casino out of the lower tier of the state’s casinos. Meadows’ 13% growth pushed them over the $20 million mark. Parx Casino
February 2016 revenue: $46,318,857 (2015: $41,325,315)
YoY change +12.08% Parx Casino and Sands Bethlehem are the clear frontrunners in the Pennsylvania casino industry, accounting for a third of total casino revenue between the two properties. The two giants continue to jostle for the top spot, with Parx maintaining a small lead for the fifth consecutive month. Mohegan Sun at Pocono Downs
February 2016 revenue: $22,255,443 (2015: $20,038,879)
YoY change +11.06% Mohegan Sun continues to be a serious player in the trail pack, and with 11% YoY growth it was able to keep pace with SugarHouse, Rivers, and Harrah’s. Valley Forge Casino Resort
February 2016 revenue: $9,596,395 (2015: $8,667,609)
YoY change +10.72% Valley Forge has a real chance to end the narrative that the state’s resort casinos can’t compete with less-restricted standalone casinos and racinos in the state. A $9.5 million February (typically a low revenue month in PA) could signal the casino is about to pass the $10 million threshold in the coming months — a milestone Valley Forge has never reached. SugarHouse Casino
February 2016 revenue: $25,072,941 (2015: $22,983,592)
YoY change +9.09% With their expansion project now complete, SugarHouse is on the ascent in Pennsylvania, and looks destined to settle into the No. 3 spot in the coming months. Lady Luck Casino Nemacolin
February 2016 revenue: $2,712,848 (2015: $2,541,389)
YoY change +6.75% The smallest casino in the state, both in size and in terms of revenue, Lady Luck saw modest growth in February. Hollywood Casino at Penn National
February 2016 revenue: $20,503,665 (2015: $20,346,419)
YoY change +0.77% With the industry up over 8%, and many of its trail pack brethren posting double-digit growth and separating themselves from Hollywood Park, the casino is likely looking at February as a loss, even though it was up ever so slightly YoY. Who’s down in PA Rivers Casino
February 2016 revenue: $28,579,235 (2015: $28,757,661)
YoY change -0.62% Rivers‘ February revenue remained pretty steady year-over-year, allowing it to hang on to the No. 3 spot, but the Rush Street owned Rivers Casino in Pittsburgh is being chased down by another Rush Street property in the eastern part of the state, SugarHouse. Harrah’s Philadelphia
February 2016 revenue: $23,367,026 (2015: $24,084,699)
YoY change -2.98% Harrah’s was the biggest loser of the month, but everything is relative, and Harrah’s revenue only dipped 3% YoY.

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