Pennsylvania’s Gaming Revenue Over $5b in Last Fiscal Year

By Adam Haynes in Laws and Regulation
| July 21, 2022 1:35 pm PDT
  • The Pennsylvania Gaming Control Board (PGCB) has announced gross revenue of over $5 billion in the 2021-22 fiscal year. 
  • This is the highest record posted for income via games regulated by PGCB.
  • Takings do not include those of the Pennsylvania Lottery, making this an even more impressive feat.

It appears those gambling in Pennsylvania were busy over the past year or so.

Despite restrictions imposed as a result of the coronavirus, “The Keystone State” has enjoyed a huge twelve months, with revenue in excess of $5.04b taken. That’s a significant nod to the success of the betting industry in Pennsylvania, and something that other states will be looking at with great interest. 

It’s fair to assume that the Pennsylvania Gaming Control Board will be eyeing an even larger figure by the end of the next financial year. But will that be the case?

Pennsylvania’s $5 Billion Gaming Market 

Raking in over $5 billion in the last fiscal year is mightily impressive.

When you consider that this figure does not factor in any monies taken from the Pennsylvania Lottery, it’s even more surprising. As it happens, the state’s lottery confirmed that it sold over $5.3 billion in tickets from the fiscal year 2020 to 2021, with net takings topping $1.3 billion.

It will be interesting to see last year’s numbers when they hit the press. In addition to having one of the largest lotteries in the country, Pennsylvania also has some of the highest pothole complaints in the US. Perhaps some of the revenue taken from players can go to fixing those problems.

I digress.

On the subject of the PGCB’s record takings, it’s clear that the board is delighted with the news. A spokesperson also claimed that there was good news for the IRS.

“It was the first-time overall revenue for games regulated by the Gaming Control Board topped $5 billion during a fiscal year. In addition, the combined tax revenue from these games during the fiscal year will top $2 billion for the first time.“

Again, we can probably expect to see some of the states that could legalize gambling in 2022 look at these numbers with awe.

Perhaps it will mark an incentive to provide citizens with access to sports betting, casino gaming, and everything else currently banned in some regions at the state level. 

Will Pennsylvania’s Gaming Revenue Increase in Years to Come?

Pennsylvania’s success owes a lot to the combined work of the Republican-controlled legislature and Democratic Gov. Tom Wold.

In 2017, both sides saw a great opportunity in legalizing gambling in the state. From in-person sportsbooks to real money gambling apps, the revenue that could potentially be raised as part of their gaming expansion package could stimulate Pennsylvania in ways that other states could only dream of.

Since then, it’s clear that the gamble has well and truly paid off. And if last year was anything to go by, $5b could be the least the Pennsylvania Gaming Control Board could look forward to. Barring any expansion, which would lead to even greater takings, of course.

But for now, things are certainly looking promising for the state.

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