This story was published more than 1 year ago.
Gambling expansion passed by legislators last year has been a windfall for the state of Pennsylvania, as the new options have generated nearly $400 million for the state.
Online gambling, iLottery, daily fantasy sports, and sportsbetting has generated $385 million in just over a year for the state. Revenues come from license application fees, as well as tax revenues based on the games that punters partake in. Online lottery has generated $23 million since June 2018, while satellite casino license fees generated $128 million. Interactive gaming fees have already amounted to $94 million, with $60 million generated from sportsbetting license applications, $1.4 million from DFS taxes, and $78 million for casino licensing fees. This total comes in addition to the $799.8 million in taxes brought in from slot machine revenues.
Speaking about the revenue PlayUSA gaming analyst Jessica Welman opined: "If the point of the expansion was to fill short-term gaps in the state's budget, then the expansion would have to be considered a success so far. We believe that the gambling expansion will eventually prove to be a winner for the state's budget, but the long-term picture is less certain."
Sportsbetting is only live at one casino thus far, but will be expanding next year. It's thought that the revenues will continue to be healthy, although application fees won't be as large as the initial wave.