Finance Archives

July 18, 2023

Delaware igaming spend slips to year-low in June

Consumer spending on online gambling in Delaware fell to a calendar year-low of $37.9m in June, although sports betting handle improved month-on-month.

June’s igaming spend was 8.3% higher than $35.0m in the same month last year but 14.3% behind the $44.2m bet in May 2023.

Online video lottery accounted for $23.9m of all spend, while players also wagered $14.0m on table games.

Revenue from igaming during the month amounted to $1.1m. This was up 35.9% year-on-year but 8.3% lower than $1.2m in May.

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July 18, 2023

HKJC betting turnover reaches HK$141.1bn in 2022-23 season

Turnover in the Hong Kong Jockey Club's 2022-23 season grew 0.5% year-on-year to HK141.10bn (£13.78bn/€16.03bn/US$18.05bn) as the contribution from international turnover and commingled pools offset local declines.

The Hong Kong Jockey Club’s (HKJC) 2022-23 campaign featured a total of 88 meetings and comprised 835 Hong Kong races and 299 overseas simulcast races.

The increase in turnover, HKJC said, was down to the rising popularity of simulcast races. Turnover from betting on simulcast events jumped 12.5% year-on-year to $11.80bn.

Most simulcast turnover came from customers in Hong Kong, with this rising by 11.3% to $10.50bn. Turnover from the HKJC’s World Pool overseas customers and partners was also up 23.0% to $1.30bn.

While local racing in Hong Kong remained by far the primary source of turnover, contributing $129.30bn, this was 0.5% lower than the previous season.

Of the local racing total, $104.00bn came from consumers in Hong Kong, while $25.39bn was generated by co..

July 17, 2023

NJ gambling revenue up 13.9% year-on-year in June

Gambling revenue in New Jersey increased 13.9% year-on-year in June, although the state experienced a month-on-month decline.

State-wide revenue for the month amounted to $457.2m. This was up from $401.5m in June of 2022 but 13.9% down from $401.5m in May this year.

Land-based gambling remained by far the primary source of revenue during the month. This area of the market generated $241.6m in revenue, 5.4% more than last year.

Slots accounted for $183.0m of all land-based revenue, a rise of 7.0%, while table games revenue climbed 0.9% to $58.1m.

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July 14, 2023

Colorado betting handle falls again in May

Player spending on sports betting in Colorado declined for the second consecutive month in May, although the state was able to report year-on-year growth.

Wagering handle for the month amounted to $385.2m. This was 6.9% more than $360.3m in May 2022 but 7.8% lower than the $417.8m bet in April this year.

Of this total, $382.1m was spent betting online, while in contrast, just $3.2m was wagered at retail sportsbooks.

Basketball accounted for 32.2% of all wagers placed during the month. Baseball’s share was 23.8%, while parlay and combination bets made up 16.9% of May’s handle.

Read the full story on iGB North America

July 14, 2023

Indiana sports wagering handle continues to decline in June

Monthly spending on sports betting in Indiana fell again in June, while the state also posted a decline in revenue.

Players wagered a total of $224.1m during the month. This was 12.6% lower than $256.3m in June 2022 and 20.9% down from $283.4m in May this year.

Baseball was the most popular sport among consumers, drawing $65.0m in bets. Players also spent $24.1m in basketball wagers and $1.6m on football bets. A further $82.0m was wagered on parlay bets and $51.0m across other sports.

Taxable adjusted gross revenue for June amounted to $19.5m. This represented a 23.4% rise from $15.8m last year but was 42.3% less than $33.8m in May.

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July 12, 2023

Iowa sports betting handle down again in June

Sports betting spend in Iowa fell for the third consecutive month in June, while the state also reported year-on-year declines across handle and revenue.

Total handle for the month amounted to $115.6m. This was 5.6% lower than $122.4m in June 2022 and also 21.7% behind the $147.7m posted in May this year.

Players wagered $105.7m online and $9.9m betting at retail sportsbooks across the state.

In terms of revenue, this reached $7.1m in June. This was 15.5% lower than $8.4m in the same month last year and 57.2% less than $16.6m in May.

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July 10, 2023

New York sports betting handle slips to 10-month low in June

Consumers in New York spent $1.17bn betting on sports online in June, the lowest monthly total since August 2022.

June’s handle was 10.5% ahead of $1.05bn in the same month last year but 14.7% behind the $1.36bn spent in May.

It was also the lowest figure since $872.2m was bet last August.

Gross gaming revenue (GGR) from sports betting during the month reached $103.8m. This was up 43.4% from $72.4m last year but 31.7% down from $152.0m in May.

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July 3, 2023

Arizona handle slips 16.9% month-on-month on April

Sports betting handle in Arizona fell month-on-month during April, although the $535.7m wagered by players was up year-on-year.

The monthly handle was 4.5% ahead of $512.9m in April 2022 but 16.9% less than $644.8m in March of this year.

Of this total, $531.2m was spent betting on sports online, while just $3.7m was wagered at retail sportsbooks across the state.

Consumers won $486.5m from betting, leaving $48.0m in adjusted gross event wagering revenue before free bets. This was 64.4% ahead of $29.2m last year but 10.1% behind $53.4m in March this year.

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June 30, 2023

RI sports betting handle slips to 10-month low in May

Consumer spending on sports wagering in Rhode Island fell to its lowest total in 10 months during May.

Players bet $30.8m on sports, down 25.1% from $41.1m in May 2022 and 17.9% less than $37.5m in April this year. This was also the lowest amount since $27.7m was bet during August last year.

Some $22.4m was wagered online, while $8.4m was spent betting at retail sportsbooks. The latter was split $4.8m at Twin River and $3.5m at the Tiverton Casino.

Revenue for the month amounted to $3.9m, up 69.6% from $2.3m last year and 30.0% more than $3.0m in April 2023.

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June 29, 2023

Nevada gambling revenue reaches $1.29bn in May

Gambling revenue in Nevada in May amounted to $1.29bn, a slight decline on the previous year but a month-on-month increase of 11.2%.

Revenue in the state was 0.8% lower than $1.30bn in May 2022 but ahead of the $1.16bn generated in April this year.

Slots remained by far the primary source of revenue for operators, drawing $877.9m worth of revenue, up 0.9% year-on-year. Multi-denomination slots accounted for $501.3m of this total, with penny slots generating $285.9m.

Revenue from table, counter and card games slipped 4.4% to $411.2m, with declines across almost all gambling types.

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June 26, 2023

Delaware sports betting handle continues decline in May

Sports betting handle in Delaware fell again in May, but the amount spent on igaming during the month hit a year-high.

Consumers bet $2.8m betting on sports in May, down 45.1% from $5.1m in the same month in 2022 and also 17.7% behind $3.4m in April this year. This was also the lowest monthly total since August 2022.

Revenue from sport betting during the month amounted to $245,474. This was 50.5% down from $495,676 last year and 34.5% lower than $374,568 in April.

Delaware Park remained the market leader with $112,768 in revenue from $1.3m in bets. Bally’s Dover was next on $68,221 off $740,564, then Harrington Raceway with $33,500 from $377,031.

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