This week’s State of the Union, in partnership with Segev LLP, covers the latest revenue figures from a range of sports betting markets across the US.
New York sportsbook revenue falls 4.4% in October
Revenue from New York’s four commercial sportsbooks declined 4.4% month-on-month in October to $2.2m, though this still represented the second-highest monthly total since the launch of regulated retail wagering in July.
The October total was just shy of the monthly gross gaming revenue record, set in September at $2.3m.
New York has now generated $5.7m in sports wagering revenue since the market opened on July 16.
Rush Street’s Rivers Casino & Resort Schenectady remained the market leader in October, posting $1.0m in revenue from its Kambi-powered sportsbook. This was 10.6% higher than the $903,892 generated in September.
Indiana sports betting revenue up to $11.5m in October
Licensed operators in Indiana generated $11.5m in adjusted gross revenue from sports betting in October, while the handle for the state’s market increased rose to $91.7m.
Adjusted gross revenue was up 33.7% month-on-month from $8.6m in September, the first full month of legal wagering in the state.
The Penn National Gaming-run Ameristar Casino was the market leader by some margin, generating $5.0m in revenue from $46.2m in amounts wagered for October. Mobile was the main driver for Ameristar, with its DraftKings-powered sports betting platform turning revenue of $3.5m from $39.4m in wagers.
Iowa sports betting revenue rises to $5.7m in October
Sports wagering revenue in Iowa increased to $5.7m in October, the second full month of regulated betting in the state, with growth across both the retail and online sectors.
Total revenue was up 14.9% from $5.0m in September, the first month of legal sports betting following the launch of legal wagering on August 15.
Consumers wagered a total of $46.5m on sports in October, up 20.8% month-on-month, while tax collected from legal sports wagering in the state increased by 14.0% to $381,379.
Delaware igaming revenue slips to year-low in October
Online gambling revenue in Delaware fell to $246,092 in October – the lowest monthly total of the year to date – primarily due to a sharp month-on-month decline in revenue at Dover Downs.
Total market revenue was down 36.1% from $384,830 in September, which was incidentally the highest monthly total so far in 2019. Consumers spent $9.4m on igaming in October, down from $11.8m in September.
Video lottery was the primary source of revenue for the market’s three licensed operators, accounting for $184,224 of the total.
Atlantic City Mayor eyes cut of NJ sports betting tax
Atlantic City Mayor Marty Small Sr. has called for the city to receive a direct cut of sports betting tax in New Jersey, arguing it has played a key role in the success of the state’s regulated market.
Speaking at a meeting of the Atlantic City Taxpayer’s Association, Small said that the city should have more control over income from sports betting taxes.
Churchill Downs launches IN sportsbook at Rising Star Casino
Churchill Downs Incorporated (CDI) has launched a BetAmerica-branded sportsbook at Rising Star Casino Resort in Rising Sun, Indiana.
The deal was facilitated by an agreement struck between CDI and Rising Star’s operator, Full House Resorts, in September this year.
Scientific Games profits after strong Q3
Scientific Games has reported a 4% year-on-year increase in net revenue for the third quarter after experiencing growth across all of its business areas.
Net revenue for the three months to 30 September 2019 amounted to $855m, compared to $821m in the corresponding period last year.
AGA names Aristocrat Leisure’s Croker as new chair
The American Gaming Association (AGA) has appointed Trevor Croker, chief executive and managing director of Aristocrat Leisure, as its new chairman.
Croker succeeds Tim Wilmott, the president and chief executive of Penn National Gaming, who has led the AGA since 2018.
PointsBet reveals plans for Colorado sports betting launch
Online sports betting operator PointsBet has set out plans to launch in Colorado next year after the state last week legalized sports wagering.
PointsBet, which already holds licences in New Jersey and Iowa, intends to roll out both retail and mobile sports betting services in Colorado, via a partnership with the Double Eagle Casino in Cripple Creek.