Financial reports
PGCB Reports Record Revenue of Nearly $6.4 Billion from Legal Gambling in State Fiscal Year
The Pennsylvania Gaming Control Board (“PGCB”) today reported that revenue generated during the combined Fiscal Year 2024/2025 of gaming it regulates reached a record level of $6,394,641,819.
This figure consists of the combined revenue from casino slot machines and table games, iGaming, sports wagering, video gaming terminals (VGTs) and fantasy sports contests. The amount eclipses the previous high for revenue in a fiscal year of $5,892,516,807 achieved in 2023/2024. Pennsylvania’s Fiscal Year runs from July 1 to June 30.
The resulting tax revenue from the play of these games in Fiscal Year 2024/2025 was $2,797,395,982. That figure eclipses the previous high for tax revenue in a fiscal year achieved during 2023/2024 of approximately $2.54 billion. The estimated amounts for revenue and taxes being reported are prior to any possible adjustments by the PA Department of Revenue.
Tax revenue from the various forms of gaming regulated by the PGCB is returned to Pennsylvanians in a number of ways. These include, but are not limited to:
- school property tax reduction on an owner’s primary residence;
- state, county, and local economic development, safety and recreational projects;
- support of the agricultural industry through support of horse racing; and,
- revenue toward the Commonwealth’s General Fund.
A comparison of combined revenue is below:
|
Fiscal Year |
Slot Machine Revenue |
iGaming Revenue |
Table Games Revenue |
Sports Wagering Revenue |
VGT’s Revenue |
Fantasy Sports Contests |
Total Gaming Revenue |
|
12/13 |
$2,428,887,430 |
|
$713,107,163 |
|
|
|
$3,141,994,593 |
|
13/14 |
$2,319,890,598 |
|
$731,874,861 |
|
|
|
$3,051,765,460 |
|
14/15 |
$2,335,787,919 |
|
$779,738,065 |
|
|
|
$3,115,525,984 |
|
15/16 |
$2,388,658,549 |
|
$839,177,086 |
|
|
|
$3,227,835,635 |
|
16/17 |
$2,336,152,508 |
|
$866,518,820 |
|
|
|
$3,202,671,328 |
|
17/18 |
$2,352,320,937 |
|
$895,278,806 |
|
|
$2,349,569 |
$3,249,949,311 |
|
18/19 |
$2,378,859,341 |
|
$885,588,231 |
$21,730,113 |
|
$23,588,490 |
$3,309,766,175 |
|
19/20 |
$1,697,955,473 |
$240,894,852 |
$644,543,736 |
$113,724,759 |
$6,798,123 |
$20,868,176 |
$2,724,785,117 |
|
20/21 |
$1,887,573,437 |
$897,216,020 |
$721,763,471 |
$308,849,184 |
$31,334,744 |
$28,186,529 |
$3,874,923,386 |
|
21/22 |
$2,410,313,212 |
$1,232,309,138 |
$1,015,735,661 |
$315,716,247 |
$41,584,158 |
$27,308,976 |
$5,042,967,392 |
|
22/23 |
$2,452,239,440 |
$1,532,761,065 |
$974,018,112 |
$491,960,612 |
$42,114,593 |
$20,668,195 |
$5,513,762,017 |
|
23/24 |
$2,438,537,357 |
$1,949,017,248 |
$958,027,818 |
$486,566,429 |
$41,105,387 |
$19,262,568 |
$5,892,516,807 |
|
24/25 |
$2,440,474,767 |
$2,477,083,825 |
$928,915,940 |
$487,639,844 |
$41,392,843 |
$19,134,601 |
$6,394,641,819 |
Retail Slot Machine Revenue
Fiscal Year 2024/25 gross revenue from slot machines at the casinos was $2,440,474,767, a 0.08% increase in revenue when compared to the $2,438,537,357 generated in Fiscal Year 2023/24.
Slot machine revenue for each of the casinos, with the percentage change reflected over the previous year, is as follows:
|
Retail Slot Machine Revenue by Operator |
Slot Machine Revenue FY2024/25 |
Slot Machine Revenue FY2023/24 |
% Change |
|
Parx Casino |
$377,741,868 |
$377,032,792 |
0.19% |
|
Wind Creek Bethlehem |
$281,813,834 |
$284,307,219 |
-0.88% |
|
Rivers Casino Pittsburgh |
$259,376,552 |
$265,520,300 |
-2.31% |
|
Mohegan Pennsylvania |
$175,512,043 |
$178,826,406 |
-1.85% |
|
Hollywood Casino at the Meadows |
$165,364,220 |
$162,709,117 |
1.63% |
|
Mount Airy Casino Resort |
$153,287,514 |
$155,143,779 |
-1.20% |
|
Live! Casino Philadelphia |
$152,124,613 |
$144,926,580 |
4.97% |
|
Rivers Casino Philadelphia |
$137,486,000 |
$133,819,461 |
2.74% |
|
Hollywood Casino at Penn National Race Course |
$134,995,246 |
$137,320,744 |
-1.69% |
|
Harrah’s Philadelphia |
$105,042,096 |
$109,918,495 |
-4.44% |
|
Valley Forge Casino Resort |
$103,226,169 |
$103,889,859 |
-0.64% |
|
Live! Casino Pittsburgh |
$99,739,181 |
$99,808,958 |
-0.07% |
|
Presque Isle Downs and Casino |
$85,948,165 |
$89,925,305 |
-4.42% |
|
Hollywood Casino York |
$85,268,464 |
$80,121,662 |
6.42% |
|
Hollywood Casino Morgantown |
$61,408,784 |
$59,013,269 |
4.06% |
|
Parx Shippensburg |
$36,866,401 |
$34,471,430 |
6.95% |
|
The Casino at Nemacolin |
$25,273,617 |
$21,781,982 |
16.03% |
|
Statewide Total |
$2,440,474,767 |
$2,438,537,357 |
0.08% |
Tax revenue from the play of slots machines in Fiscal Year 2024/25, including mandated fees paid by some operators, amounted to $1,343,013,822.
Retail Table Games Revenue
Fiscal Year 2024/25 gross revenue from table games at the casinos was $928,915,940, a 3.04% decrease in revenue when compared to the $958,027,818 generated in Fiscal Year 2023/24.
Table games revenue for each of the casinos, with the percentage change reflected over the previous year, is as follows:
|
Retail Table Games Revenue by Operator |
Table Games Revenue FY2024/25 |
Table Games Revenue FY2023/24 |
% Change |
|
Wind Creek Bethlehem |
$248,027,460 |
$252,200,606 |
-1.65% |
|
Parx Casino |
$196,413,495 |
$199,049,817 |
-1.32% |
|
Live! Casino Philadelphia |
$104,163,224 |
$107,817,308 |
-3.39% |
|
Rivers Casino Philadelphia |
$82,091,166 |
$86,998,189 |
-5.64% |
|
Rivers Casino Pittsburgh |
$73,919,682 |
$79,129,580 |
-6.58% |
|
Valley Forge Casino Resort |
$37,167,593 |
$33,693,962 |
10.31% |
|
Mount Airy Casino Resort |
$35,514,513 |
$34,636,221 |
2.54% |
|
Mohegan Pennsylvania |
$28,386,495 |
$27,999,899 |
1.38% |
|
Hollywood Casino at Penn National Race Course |
$24,867,554 |
$24,576,944 |
1.18% |
|
Harrah’s Philadelphia Casino |
$22,172,289 |
$26,708,238 |
-16.98% |
|
Hollywood Casino at the Meadows |
$21,931,051 |
$28,181,270 |
-22.18% |
|
Live! Casino Pittsburgh |
$14,750,775 |
$15,535,302 |
-5.05% |
|
Hollywood Casino York |
$13,612,400 |
$15,918,424 |
-14.49% |
|
Presque Isle Downs and Casino |
$12,364,452 |
$13,038,895 |
-5.17% |
|
Hollywood Casino Morgantown |
$10,207,462 |
$9,272,263 |
10.09% |
|
The Casino at Nemacolin |
$2,552,301 |
$2,377,478 |
7.35% |
|
Parx Shippensburg |
$774,029 |
$893,423 |
-13.36% |
|
Statewide Total |
$928,915,940 |
$958,027,818 |
-3.04% |
Tax revenue from the play of table games in Fiscal Year 2024/25 was $154,879,545.
Internet Casino-Type Gaming (iGaming) Revenue
Fiscal Year 2024/25 revenue from iGaming was $2,477,083,825, a 27.09% increase in revenue when compared to the $1,949,017,248 generated in Fiscal Year 2023/24. This revenue amount is a high mark for a fiscal year.
|
Operator |
FY2024/25 |
FY2023/24 |
% Change |
|
Hollywood Casino at Penn National Race Course |
$935,823,045 |
$751,177,422 |
24.58% |
|
Valley Forge Casino Resort |
$675,170,190 |
$482,491,457 |
39.93% |
|
Rivers Casino Philadelphia |
$411,718,444 |
$356,647,653 |
15.44% |
|
Harrah’s Philadelphia |
$115,994,074 |
$102,020,334 |
13.70% |
|
Golden Nugget |
$79,696,001 |
$39,281,525 |
102.88% |
|
Parx Casino |
$58,964,411 |
$58,835,932 |
0.22% |
|
Live! Casino Philadelphia |
$54,177,983 |
$39,973,190 |
35.54% |
|
Mount Airy Casino Resort |
$42,559,169 |
$46,187,631 |
-7.86% |
|
Bally’s Pennsylvania |
$41,566,491 |
$32,518,516 |
27.82% |
|
Presque Isle Downs and Casino |
$23,128,408 |
n/a |
n/a |
|
Mohegan Pennsylvania |
$20,183,159 |
$17,081,366 |
18.16% |
|
Wind Creek Bethlehem |
$18,102,450 |
$22,802,222 |
-20.61% |
|
Statewide Total |
$2,477,083,825 |
$1,949,017,248 |
27.09% |
Tax revenue from iGaming in Fiscal Year 2024/25 was $1,099,557,803.
Sports Wagering Revenue
Fiscal Year 2024/25 revenue from sports wagering was $487,639,844, a 0.22% decrease in revenue when compared to the $486,566,429 generated in Fiscal Year 2023/24. At the same time, the sports wagering handle increased between the two fiscal years from $8,169,540,520 to $8,721,795,533.
Sports wagering revenue for each of the casinos, with the percentage change reflected over the previous year, is as follows:
|
Sports Wagering Revenue by Operator |
Sports Wagering Revenue FY2024/25 |
Sports Wagering Revenue FY2023/24 |
% Change |
|
Valley Forge Casino Resort |
$250,290,144 |
$249,370,325 |
0.37% |
|
Hollywood Casino at the Meadows |
$131,189,196 |
$137,139,171 |
-4.34% |
|
Hollywood Casino Morgantown |
$19,991,392 |
$21,196,614 |
-5.69% |
|
Hollywood Casino at Penn National Race Course |
$16,995,365 |
$4,701,217 |
261.51% |
|
Rivers Casino Pittsburgh |
$14,869,925 |
$16,901,149 |
-12.02% |
|
Parx Casino |
$12,466,404 |
$16,833,893 |
-25.94% |
|
Hollywood Casino York |
$10,753,708 |
$6,102,831 |
76.21% |
|
Harrah’s Philadelphia |
$9,983,926 |
$8,362,280 |
19.39% |
|
Rivers Casino Philadelphia |
$9,215,349 |
$8,289,394 |
11.17% |
|
Live! Casino Philadelphia |
$5,326,723 |
$6,331,196 |
-15.87% |
|
Presque Isle Downs and Casino |
$1,788,457 |
$1,043,731 |
71.35% |
|
Live! Casino Pittsburgh |
$1,518,356 |
$1,609,231 |
-5.65% |
|
Mohegan Sun Lehigh Valley |
$1,076,750 |
$1,397,927 |
-22.98% |
|
Mohegan Pennsylvania |
$973,182 |
$3,271,401 |
-70.25% |
|
Wind Creek Bethlehem |
$489,195 |
$1,072,775 |
-54.40% |
|
Mount Airy Casino Resort |
$357,192 |
$704,580 |
-49.30% |
|
South Philly Race & Sportsbook |
$250,878 |
$2,038,030 |
-87.69% |
|
Parx Shippensburg |
$103,704 |
$109,718 |
-5.48% |
|
Parx Malvern |
n/a |
$90,967 |
n/a |
|
Statewide Total |
$487,639,844 |
$486,566,429 |
0.22% |
Tax revenue from Sports Wagering in Fiscal Year 2024/25 was $175,550,344.
Video Gaming Terminals
Fiscal Year 2024/25 revenue for Video Gaming Terminals at Truck Stops was $41,392,843, a 0.70% increase when compared to the $41,105,387 in Fiscal Year 2023/24. At the end of this fiscal year, there were 75 VGT facilities operating in Pennsylvania compared to 74 facilities in operation at the end of Fiscal Year 2023/2024.
VGT revenue for each of the providers, with the percentage change reflected over the previous year, is as follows:
|
VGT Terminal Operator |
VGT Revenue FY2024/25 |
VGT Revenue FY2023/24 |
% Change |
|
Marquee by Penn1 |
$27,567,893 |
$25,876,995 |
6.53% |
|
J&J Ventures Gaming2 |
$10,410,895 |
$11,462,180 |
-9.17% |
|
Jango Entertainment3 |
$3,250,748 |
$3,419,612 |
-4.94% |
|
Venture Gaming LLC4 |
$109,734 |
$266,424 |
-58.81% |
|
Accel Entertainment Gaming5 |
$53,573 |
$80,177 |
-33.18% |
|
Statewide Total |
$41,392,843 |
$41,105,387 |
0.70% |
Tax revenue from VGTs in Fiscal Year 2024/25 was $21,524,278.
Fantasy Contests Revenue
Fiscal Year 2024/25 revenue from fantasy contests was $19,134,601, a 0.66% decrease in revenue when compared to the $19,262,568 generated in Fiscal Year 2023/24.
Fantasy contests revenue for each of the providers, with the percentage change reflected over the previous year, is as follows:
|
Fantasy Contests Operator |
Fantasy Revenue FY2024/25 |
Fantasy Revenue FY2023/24 |
% Change |
|
DraftKings |
$13,359,018 |
$13,585,594 |
-1.67% |
|
FanDuel |
$3,291,034 |
$3,685,166 |
-10.70% |
|
UnderDog Sports |
$1,900,354 |
$1,306,281 |
45.48% |
|
Fantasy Football Players Championship |
$255,652 |
$292,287 |
-12.53% |
|
Yahoo Fantasy Sports |
$152,853 |
$219,313 |
-30.30% |
|
Sportshub Technologies |
$72,239 |
$72,931 |
-0.95% |
|
Fantasy Sports Gaming, LLC |
$67,624 |
$69,398 |
-2.56% |
|
DataForce |
$38,216 |
$35,986 |
6.20% |
|
Jock MKT |
$0 |
-$131 |
-100.00% |
|
OwnersBox |
-$2,389 |
-$4,257 |
-43.88% |
|
Statewide Total |
$19,134,601 |
$19,262,568 |
-0.66% |
Tax revenue from Fantasy Contests in Fiscal Year 2024/25 was $2,870,190.
The post PGCB Reports Record Revenue of Nearly $6.4 Billion from Legal Gambling in State Fiscal Year appeared first on Gaming and Gambling Industry in the Americas.
Allwyn International AG
Allwyn International Q3 2025 Preliminary Unaudited Financial Results and Update on Current Trading
Reading Time: 3 minutes
Allwyn International AG has announced its preliminary unaudited financial results for the three months ended 30 September 2025 and provided an update on recent developments and current trading.
Highlights
• Good top-line growth momentum and landmark strategic transactions
• Net Revenue of €1023 million, +5% YoY
• Adjusted EBITDA of €374 million, -8% YoY, primarily reflecting customer-friendly sports results and non-operating items at Betano, and higher corporate costs following simplification of group structure in prior year
• Net debt/Adjusted EBITDA of 2.3x as of 30 September 2025
• Agreement to acquire majority stake in PrizePicks, the leading daily fantasy sports operator in North America
• Post quarter end, announced planned all-share combination of Allwyn and OPAP, creating the second largest listed lottery and gaming operator globally.
Robert Chvatal, Allwyn CEO, said: “I am pleased to report another quarter of solid financial performance and transformative strategic initiatives, as we continue to execute our growth strategy.
Net Revenue increased 5% year-on-year in the third quarter, broadly in line with growth in the first half and especially pleasing given the strength of growth in the same quarter last year. This performance reflects continued delivery on our digital growth strategy, with online Net Gaming Revenue up 8% year-on-year, and the unwavering commitment of our teams to deliver an exceptional customer experience.
We achieved good profitability growth across the majority of our businesses in the quarter, benefiting from continued top-line growth and a full quarter’s contribution from Instant Win Gaming, which we acquired last year and continues to perform very well; however, this was offset by several specific headwinds in the quarter, including exceptionally customer-friendly sports results affecting performance of Betano (reported as an equity method investee) and, as we also noted in the first half of the year, higher Corporate costs following last year’s simplification of the group structure.
We are also delighted and excited to have announced two landmark transaction that significantly advance our growth strategy and strengthen our position as a global leader in lottery and gaming.
First, in September we agreed to acquire a majority stake in PrizePicks, the leading daily fantasy sports operator in North America. This transaction marks our entry into the fast-growing U.S. online sports entertainment market. PrizePicks has a track record of strong growth, profitability, and cash generation, supported by an innovative platform that has made it the clear leader in its category. Its engaging product offering, proprietary technology and strong brand are genuinely differentiated, and position us to capture long-term growth opportunities in this dynamic segment of the very substantial and dynamic U.S. market.
Second, in October we announced the planned combination of Allwyn and OPAP to create the second largest listed lottery and gaming operator globally. This transaction is the logical next step in our long-standing stewardship of OPAP, which has delivered very significant shareholder returns to Allwyn and the other shareholders of OPAP since our initial investment in 2013. It safeguards the long term value of OPAP in a rapidly evolving gaming environment and enables OPAP’s public shareholders to benefit from Allwyn’s unique platform, including growth, scale, diversification, access to leading technology and digitalisation, and a developing global brand, while continuing to benefit from substantial and resilient cash returns. For Allwyn, this represents the natural next milestone in our journey, with a public market listing expanding our capital markets access to equity markets and elevating the profile of Allwyn’s global platform.
We are also pleased to have begun our rollout of Allwyn as a consumer-facing brand, beginning in the Czech Republic and Greece. This is the start of our long-term strategy to introduce the Allwyn brand as the key consumer facing brand across our markets. We see the introduction of a single brand as an important enabler of our growth strategy, allowing us to connect with new audiences in new and existing markets and to achieve marketing synergies across the group. Finally, in November, we successfully syndicated a USD 1.5bn financing for the acquisition of PrizePicks. This included a USD 1bn institutional term loan B, our largest offering to date in this market, demonstrating continued investor support for the Allwyn credit and confidence in our outlook.
Our progress so far this year reinforces the strength of our proven strategy and, looking forward, we are well prepared to deliver the next phase of our growth story and further strategic progress.”
The post Allwyn International Q3 2025 Preliminary Unaudited Financial Results and Update on Current Trading appeared first on European Gaming Industry News.
Financial reports
ZEAL continues its path of success in the first half of 2025 and records growth in customer base and profitability
- Revenue increases by 32 percent to € 101.5 million
- EBITDA rises by 76 percent to € 35.4 million
- Number of monthly active customers for lotteries grows by 12 percent to 1.515 thousand
- Gross margin from lotteries improves to 17.3 percent
ZEAL Network SE, Germany’s leading online provider of lottery products, recorded substantial and sustainable growth in key performance indicators in the first half of 2025. Group revenue increased by 32 percent to € 101.5 million in the first six months of the year (2024: € 76.8 million). EBITDA rose by 76 percent to € 35.4 million (2024: € 20.1 million).
“We once again achieved strong results in the first half of 2025. ZEAL’s continued growth path proves that our business model is highly robust and scalable over the long term,” commented Helmut Becker, CEO of ZEAL. “We are in an excellent position to further expand our market leadership in a growing industry.”
Andrea Behrendt, CFO of ZEAL, added: “Our half-year results are a true team success – especially given that the jackpot situation was rather weak compared to the previous year. Challenging market conditions particularly underscore our operational excellence. The significant increases in revenue and EBITDA were driven by further expansion of our customer base and profitability.”
Lottery Business Revenue Grows by 34 Percent
The strong performance of the lottery business was the key driver of ZEAL’s significant revenue growth in the first half of the year. Despite lower average jackpot levels for LOTTO 6aus49 and Eurojackpot compared to the prior-year period, lottery billings increased by 4 percent to € 527.3 million (2024: € 507.1 million).
Thanks to continued successful marketing initiatives, the average number of active customers per month (MAU) rose by 12 percent to 1,515 thousand (2024: 1,353 thousand).
Additionally, ZEAL was able to improve the gross margin by 3.8 percentage points to 17.3 percent (2024: 13.4 percent), driven by a price increase implemented in the previous year and a changed product mix.
The simultaneous increase in billings and gross margin resulted in a significant 34 percent rise in lottery business revenue to € 91.0 million (2024: € 68.0 million).
Games Segment Grows by 49 Percent
The Games segment also continued its strong development in the first half of the year. ZEAL expanded its B2C games portfolio to more than 480 titles and increased revenue in the Games segment by 49 percent to € 6.7 million (2024: € 4.5 million).
Significant Increases in EBITDA and EBIT
Challenging jackpot conditions in the first half of 2025 made new customer acquisition more difficult. Nonetheless, ZEAL continued to invest heavily in sustained growth, acquiring 499 thousand new customers (2024: 592 thousand).
Intensive marketing efforts led to an increase in acquisition costs per new customer (Cost per Lead, CPL) by 41 percent to € 46.93 (2024: € 33.20).
Other operating expenses rose by 15 percent to € 49.4 million (2024: € 42.8 million).
In addition to strategic marketing spend—which increased by 14 percent to € 29.1 million (2024: € 25.5 million)—this was primarily due to higher direct and indirect operating costs. The ongoing development of the product mix led to an increase in direct operating costs by 14 percent to € 9.8 million (2024: € 8.6 million). Indirect operating costs increased by 20 percent to € 10.4 million (2024: € 8.7 million), driven in particular by external consulting services, freelance personnel, and software expenses.
Through efficiency gains and the scalability of its business model, ZEAL was able to increase EBITDA disproportionately to revenue—by 76 percent to € 35.4 million (2024: € 20.1 million). EBIT nearly doubled year-on-year, reaching € 31.1 million (2024: € 16.1 million).
Based on the strong results of the first half of 2025, ZEAL confirms the forecast published on March 26, 2025.
The post ZEAL continues its path of success in the first half of 2025 and records growth in customer base and profitability appeared first on European Gaming Industry News.
Financial reports
BETBY DELIVERS STRONG H1 2025 PERFORMANCE WITH CONTINUED COMBINED GROWTH ACROSS SPORTSBOOK AND BETBY.GAMES
BETBY, a leading sportsbook supplier, has released its H1 2025 performance figures, showcasing solid growth across key verticals, including its proprietary esports feed BETBY.Games. These results highlight the provider’s product strength and growing global presence through both new and existing partnerships.
During the first half of the year, BETBY’s sportsbook delivered a strong performance, with Gross Gaming Revenue increasing by 472% compared to H1 2024. The number of active players across its partner network rose by 211%, reflecting the growing appeal of BETBY’s comprehensive sportsbook solution. Total bets placed also climbed by 277%, marking another period of high engagement across the platform.
Betby.Games, the supplier’s proprietary esports feed, also made a significant contribution to the company’s overall growth. The vertical achieved a 153% year-on-year increase in Gross Gaming Revenue and a near 57% rise in bets placed during the period. As a result, Betby.Games accounted for 14% of the company’s total GGR for H1 2025.
Leonid Pertsovskiy, Chief Executive Officer at BETBY, said: “H1 has been another important step forward for BETBY, with meaningful growth in both our sportsbook and esports verticals. We continue to innovate, scale, and support our partners’ ambitions by delivering products that perform, with Betby.Games’ performance demonstrating the underlying strength and potential of the vertical. As we look ahead, we remain focused on accelerating growth across all areas.”
To find out more about Betby, please visit: https://betby.com/
The post BETBY DELIVERS STRONG H1 2025 PERFORMANCE WITH CONTINUED COMBINED GROWTH ACROSS SPORTSBOOK AND BETBY.GAMES appeared first on European Gaming Industry News.
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