Pennsylvania has reported a 1.7% drop in revenue despite sports betting handle reaching $900m for the first time.
The total revenue in Pennsylvania in November was $444.5m (£351.2m/€405.6m), down on the $452.4m reported the same month last year.
This was in spite of sports betting handle reaching $934.1m, smashing the previous record of $829m recorded in October of this year. Notably, November’s sports betting handle was 18.4% higher than the $789.2m accumulated in the same month last year.
ESPN Bet blamed for Pennsylvania’s sports betting revenue decrease
Despite the sizeable increase in handle, sports betting revenue fell to $12.9m in November from $52.9m in October, a 73% drop month-on-month.
The Pennsylvania Gaming Control Board pointed to a low hold percentage, as well as the November launch of ESPN Bet, as reasons for the “steep drop in revenue”.
Operating under the Hollywood Casino at Penn National, ESPN Bet recorded a $7.8m loss, largely because of its “significant amount..
