Quote:
Originally Posted by sheriffolds
But somehow slots and blackjack got thru is the revenue that much higher on the casino side?
There's no data on PA "online" revenue yet, but going by New Jersey online revenue for June 2019, online poker represents a tiny fraction of overall "iGaming" revenue compared to online casino table games/slots.
https://www.playnj.com/new-jersey/revenue/
The article lists the June 2019 New Jersey online "Total Gaming Win" for
all NJ online casinos as follows:
Total NJ Online Slots/Casino Games Revenue (June 2019): $36,288,066 (95.35%)
Total NJ Online Poker Revenue (June 2019): $1,770,178 (4.65%)
Total NJ Online Gambling Revenue (June 2019): $38,058,244
Keep in mind that the gross revenue figures are
before casinos pay taxes, employees, overhead, and other expenses.
These numbers are for New Jersey "online" gambling since there's no "online" poker data for Pennsylvania yet.
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However, if we look at Pennsylvania "land-based" casino Gross Gaming Revenue (GGR) or Gross Terminal Revenue (GTR), and how poker performs compared to slots/casino table games, peer-to-peer (aka "non-banking")
massively under-performs there too.
Scroll down to bottom of pages to see Fiscal Year 2018/2019 totals.
https://gamingcontrolboard.pa.gov/fi...FY20182019.pdf
https://gamingcontrolboard.pa.gov/fi...FY20182019.pdf
Pennsylvania "Banking" Casino Table GGR FY 2018/2019: $885.6 million
Pennsylvania "Non-Banking" Poker GGR FY 2018/2019: $54.6 million
Pennsylvania "Slots" GTR FY 2018/2019: $2.38 billion
So basically poker for Pennsylvania "land-based" casinos (at least the 10-out-of-12 PA casinos that offer land-based poker) represents about $54 million out of $3.3 billion annual gaming revenue.
Even if you remove land-based slot terminal revenue, land-based poker still only represents about $54 million out of $940 million total "table games" revenue. Blackjack/baccarat/craps/roulette/etc. (aka "banking" table games) bring in well over 90% of land-based table games revenue in PA.
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I remember looking into this about 18 months ago, subsequent to the Oct 2017 passage of Pennsylvania Act 42 of 2017 which authorized land-based and online casino expansions in the Keystone State.
Here were my concerns with Pennsylvania "land-based" poker room revenues at that time. The figures are broken down by avg. revenue per table and include tax allotments + daily net revenue for poker, casino tables games, and slots for November and December 2017.
https://www.parttimepoker.com/pa-liv...evenue-concern
The "gaming space" effectiveness for land-based poker games in Pennsylvania is also very low compared to slot terminals and traditional casino table games. Look at the "Daily" revenue figured I included in the spreadsheets:
PA land-based poker (Nov/Dec 2017): $600/day per table approx.
PA land-based table games (Nov/Dec 2017) $2,000 daily per table approx.
PA land-based slots (Nov/Dec 2017) $100 daily per terminal approx.
This is because Pennsylvania "table games" are taxed at roughly 16% of GGR while Pennsylvania slots are taxed at roughly 54% GTR. This is for both live games and the upcoming online games.
-David
Last edited by dhubermex; 07-16-2019 at 10:55 AM.
Reason: made various edits for clarity