Pennsylvania Gaming Control Board: iGaming sector generates $1.2bn in 21/22 fiscal year
The Board report says the state opened three new iGaming sites in this period.
The Pennsylvania Gaming Control Board (PGCB) is an independent state agency that was created by the Pennsylvania Race Horse Development and Gaming Act of 2004. The Keystone State has repeatedly shown itself to be accommodating to the gambling sector; for instance, it was one of the first states to legalize sports betting upon the repeal of PASPA in 2018.
The first sportsbook at Hollywood Casino at Penn National Racing Course went live in November of 2018 and it remains one of the most popular and recognized gaming retail venues in New England.
This proactive attitude toward gaming has seen Pennsylvania become a popular hotspot for gambling operators seeking new customers. Gaming Innovation Group (GiG) was one of the latest sportsbooks to gain access to the state’s lucrative market.
Due to the size of its statewide gambling market, the PGCB has a complex and modern bureaucracy to accommodate influxes of business. The PGCB consists of nine bureaus and offices with approximately 325 employees and a budget of $43.3m. There are seven commissioners and nine executive officers in the management section of the PGCB, and the majority of employees is made up of casino compliance officers (141).
THE KEYSTONE STATE’S FLOURISHING IGAMING SECTOR
The PGCB licensed seven iGaming operators and seven iGaming manufacturers, compared to one sports wagering operator and one sports wagering manufacturer. This would indicate a shift to a forward-thinking attitude toward the gaming landscape.
Overall revenue for iGaming reached $1.2bn during the fiscal year 2021/2022, an increase of 37% from the previous fiscal year (total of $897m). This generated $861m in tax revenue during the fiscal year.
iGaming revenue was divided thusly: $847.5m went into iSlots revenue, $349.6m into iTables revenue, and $35.2m into iPoker.
In the fiscal year, 2021/2022, the Bureau of Gaming Operations (BGO) oversaw the opening of three new iGaming sites, bringing the total amount to 19. Furthermore, the BGO used ‘industry-best’ practices pertaining to iGaming account security which was designed to reduce fraud, identity theft and unauthorized account access.
Staff analyzed and investigated more than 186 iGaming and sports wagering gaming service provider applications and notifications to support interactive gaming and sports wagering activities.
Looking back to the three new iGaming sites, this was an area that saw exciting developments. Betway offers internet-based simulated slot machines and table games through its Live! Casino Philadelphia, while PointsBet introduced internet-based simulated slot machine and table games through the Hollywood Casino at Penn National Race Course iGaming certificate.
Harrah’s Philadelphia, meanwhile, opened up a World Series of Poker iPoker games facility.
Although there has been an obvious upsurge in both the iGaming and interactive live betting sectors of the Pennsylvanian gambling market, there are still stringent restrictions for operators seeking a license.
Each operator must reasonably demonstrate the ability to offer its games in a safe, secure environment for its customers. They may only offer games that have passed regulatory standards and follow internal controls for all aspects of their operations.
iGaming sites are continually monitored to ensure they contain all information required per the Board’s regulations such as the ‘PGCB Licensed and Regulated’ logo, responsible gaming information, and terms and conditions for the players.
Pennsylvania has shown its commitment to building a secure and robust iGaming sector with its Office of Gaming Laboratory Operations (GLO). The GLO oversaw a major upgrade to its testing of equipment used in all aspects of gaming.
The PGCB described fulfilling the objective of delivering ‘significant sources of revenue’ in its mission statement for the 2021-22 fiscal report. The $1.2bn generated by iGaming revenue shows that it is a real growth industry in the state. Furthemore, the annual report would indicate it is an industry that the PGCB is providing requisite assistance for considering its lucrative nature.
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
