Harrah’s Sees First Sports Betting Loss in February Around Super Bowl LVI

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Harrah's Philadelphia in Chester sports wagering.
Image via DELCO.Today.
Harrah's Philadelphia Casino & Racetrack in Chester faces a Space Jam copyright lawsuit in connection to a Facebook posting of the opening of its on-stie retail sportsbook "The Book Philly."

Wagering promotions around Super Bowl LVI contributed to sports betting revenue losses at some of Pennsylvania’s casinos, including Harrah’s Philadelphia in Chester, writes Laura Smythe for Philadelphia Business Journal.

Casinos statewide reported a cumulative revenue loss of nearly $443,000 during February, usually a big sports month for casinos. It’s the first loss since sports betting was added in 2018.

Harrah’s Philadelphia posted a sports wagering revenue loss of more than $309,500.

The biggest losses were felt at Hollywood Casino in Washington County, which posted a sports betting revenue loss of almost $3.3 million. Hollywood Casino Morgantown was second, at $1.5 million lost.

At the other end, nearby Valley Forge Casino Resort in King of Prussia posted $1.5 million in sports betting revenue. Rivers Casino Philadelphia also generated $493,00 0 in sports betting revenue.

Some sports betting promotions around the Super Bowl had odds favoring the wagerers to draw them in.

“I don’t think any of the operators wanted to lose money but they do have professional oddsmakers and approved promotions to try to bring in more customers and sometimes those will drive the resulting revenue down,” said Dough Harbach of the Pennsylvania Gaming Control Board.

Read more at Philadelphia Business Journal about revenue losses in February sports wagering.

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