Valley Forge Casino's $18M July Revenue Marks Huge Increase

UPPER MERION, PA — Valley Forge Casino announced $18.99 million in July revenue, an improvement of more than 57 percent from July 2019, according to the Pennsylvania Gaming Control Board. It makes the casino one of the most improved in the entire state, after they reported a revenue of $12.04 million in July 2019.

The announcement marks an important economic boost for the region after the casino was shut down on March 12 for months due to coronavirus. It reopened on June 26, the day the green phase began in Montgomery County. But it also comes in the wake of heavy job losses, as hundreds of Valley Forge employees will reportedly be laid off.

Boyd Gaming, the owner of Valley Forge Casino and operator of numerous casinos, resorts, and hotels around the nation, said they suffered a loss of $108 million in the second quarter of 2020 due to the shutdown. But analysts say the industry is turning around, with sports betting being one source of improvement.

Much of Valley Forge's improvement came from FanDuel Sportsbook, which analysts say has dominated the state's sports betting scene. They collected $68.8 million in online bets, generating $1.4 million in revenue.

“There is no making up for what was lost during the shutdowns," said Dustin Gouker, lead analyst for PlayPennsylvania.com. "But with online casinos sustaining incredible growth, major sports back in play, and retail casinos gradually reopening, the industry is thankfully moving forward.”

Those bets are likely to continue to rise into August and September, as the baseball season continues, and the NHL and NBA playoffs ramp up.

Internet gaming in general accounted for $8.4 million of Valley Forge's $18.9 million July.

Valley Forge did see drops in revenue this July in both table games ($2.3 million, down from $3.2 million) and slot machines ($6.9 million, down from $8.4 million), a trend which has held across the Pennsylvania gaming industry.