Tag: Retail sports betting

Detroit’s three commercial casinos posted $107.2m in revenue for the month of July, level with last year and slightly up month on month.

July’s total was on par with the $107.2m in the same month last year. The figure was 6.5% higher than $101.5m in June this year.

Of this amount, $106.7m came from slots and table games, up by 0.7% year on year. Sports betting generated $485,763 in qualified adjusted gross receipts, (QAGR), a drop of 62.0%, while handle reached $8.0m.

MGM remained the leader in the Michigan city with 47% market share. Casino revenue at MGM reached $50.0m and betting QAGR $121,017.

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Player spending on sports betting in Iowa fell again in July, although the state was able to post a month-on-month increase in revenue.

Handle for the month amounted to $109.7m. This was 0.7% up from $108.6m in July 2022 but 5.4% lower than $115.6m in June this year. It also represented the fourth consecutive month of spending decline.

Online spend stood at $101.3m for the month, with retail betting at $8.4m.

In terms of revenue, July’s total hit $10.6m. This was 5.4% lower than $11.2m last year but a 49.3% increase from $7.1m in June 2023.

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Sports wagering revenue increased in Indiana in July despite the state reporting a decline in handle.

Consumers in Indiana spent $203.8m betting on sports in July, a 1.4% drop from $206.6m in July 2022. This was also 9.1% behind $224.1m in June this year.

Baseball remained the sport of choice among Indiana bettors, drawing $69.4m in total bets. A further $12.6m was wagered on basketball, while $56.2m was spent in parlay bets and $62.9m betting on other sports.

Taxable adjusted gross revenue reached $23.3m, a 11.5% increase from last year. This was also 19.5% ahead of the $19.5m generated in June 2023.

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Player spending on sports betting in Arizona fell again in May, while revenue also declined month-on-month.

Monthly handle in Arizona amounted to $451.7m, down 2.1% from May of 2022 and 17.7% lower than April this year.

Consumers wagered $446.9m online and a further $3.9m at retail sportsbooks in the state.

Player winnings for the month amounted to $398.2m, resulting in $48.6m in adjusted gross event wagering revenue before free bets. This was 12.0% down on last year but marginally higher than April’s total.

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Rhode Island’s sports betting handle for the 2023 financial year declined year-on-year despite consumers spending more than $500.0m.

Handle for the 12 months to 30 June hit $509.5m, down 1.5% from $517.2m in the previous year.

Players spent $331.9m betting online, up 14.3% but retail across the Twin River and Tiverton casinos fell 21.7% to $177.6m. Twin River took $115.3m in bets and Tiverton $62.3m.

However, total revenue for the year reached $50.9m, up 28.2% from 2022’s $39.7m. Players won $458.6m from sports betting.

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