Gambling Revenue Returns to Normal Levels in Pennsylvania
Last week we reported New Jersey gaming operators saw a boost in revenue thanks to online casino games and sports gambling. Today, we learned Pennsylvania saw similar increases in revenue.
Not only did Pennsylvania casinos report revenue of $281.5 million, which was more in line with pre-pandemic levels, but revenue from sports gambling and online casino games made up 22% of total revenue.
According to the Philadelphia Inquirer, the money from online gaming accounted for $61.2 million which is a significant increase compared to last July which was less than $4 million. Of the 12 casinos and gaming operators in Pennsylvania, Boyd Gaming’s Valley Forge Casino saw a 57% increase in revenue compared to July of 2019. Their partnership with FanDuel was a big part of their revenue driver. On the other end of the spectrum is Wind Creek Bethlehem which saw a 38% decline in revenue. Worth noting they didn’t launch their online gaming platform until July 24th.
NBA and NHL Playoff Schedule
Some exciting match-ups in the NBA playoffs on Tuesday. LeBron James and the Lakers take on the Trailblazers in Game 1. The Rockets and James Harden take on his former team for Game 1 against the Thunder. Plus the Pacers tip-off against the Heat and the Magic go against the Eastern Conference’s top-seeded Bucks. Sports Illustrated’s Gambling analyst Corey Parson has all the latest odds and best bets for the NBA playoff action over at SI.com/Gambling.
There are also four games on the schedule for the NHL playoffs. Game 4 between the Flyers and Canadiens with Philly up two games to one. Flames and Stars are knotted up at two games apiece and will face-off in Game 5 Tuesday night. The Islanders look to sweep the Capitals in their Game 4 match-up and the Golden Knights will look to advance past the Blackhawks with a victory this evening. SI's Roy Larking breaks down each of his best bets for today's Stanley Cup Playoff action here.
There are over 21.9 million cases of the virus worldwide, with over 774,000 deaths. According to Johns Hopkins, the U.S. has surpassed 5.4 million cases with over 170,000 deaths. According to the COVID-19 Tracking Project, there were 37,817 new cases reported Thursday. 648,116 new tests were reported. And 407 deaths were reported yesterday. U.S. housing starts jumped 22.6% in July from the previous month to a seasonally adjusted annual rate of 1.496 million amid record-low interest rates. The gains were the most since October 2016. Permits rose 18.8% from June. Home Depot, posted stronger-than-expected second-quarter earnings as sales far outpaced analysts' forecasts even amid the peak of the coronavirus pandemic. Same-store sales rose 23.4%, which is more than double analysts' forecasts for a 10.5% gain, as coronavirus lockdowns enticed more buyers to spend cash on home repair projects. Walmart, meanwhile, smashed earnings expectations as online sales nearly doubled from last year. The world's largest retailer said e-commerce sales rose 97% from last year as Walmart introduced curbside pickup for online orders during the pandemic.
TheStreet's Katherine Ross contributed to this report.