Revenue
New York Sports Betting Hold Drove A 67% Tax Jump
New York’s mobile sportsbooks kept 12.09% of the $384,761,040 wagered in the week ending Aug. 2. Gross gaming revenue rose 66.7% week over week while handle rose 8.67%, a tax swing near $9.5 million. The fiscal year’s largest handle week, ending June 14, posted negative revenue of $48,515,979 and no tax. Handle across 19 weeks…
Read MoreGambling Stocks Tumbling After Post-COVID Highs
DraftKings (DKNG), Caesars (CZR), Penn Entertainment (PENN), Bally’s (BALY), and Gambling.com (GAMB) all saw major spikes between 2020-2021. Since then, many gambling stocks have fallen in the market, with PENN down nearly 75% from its 5-year high. The gambling industry now faces a credibility reset, with cautious sentiment and realistic valuations. LAS VEGAS – Stocks…
Read MorePromotional Spending Pays Early Dividends For NY Sportsbooks
Caesars Sportsbook staked their claim as New York’s mobile sportsbook market leader shortly after launch, largely as a result of unprecedented promotional spending. While this promotional spending allowed Caesars to capture a large sector of market share, a new report indicates that high promotional spending may be a death sentence for the market. ALBANY, N.Y.…
Read MoreDeadwood Casinos See 20% Increase In October Gaming Revenue
Deadwood Casinos increased their October revenue by 20.54% year-over-year from the previous year’s October. 20% of this revenue increase is from the addition of sports betting to the casino’s offerings. LAS VEGAS – The Deadwood casinos in South Dakota saw huge growth in their October gaming revenue, much of which is due to the recent…
Read MoreMichigan Gambling Industry Booms In Record-Breaking October
Michigan Detroit-based casinos made $111.4 million in October revenue. Sportsbooks handled just under $500 million in sports wagers. Online casino games and sports wagers contributed $20.8 million in taxes. DETROIT – Michigan had a financially great October after commercial and tribal operators generated $109.7 million in revenue. During a very active Autumn season of legal…
Read MoreUSA Gambling Industry Set Revenue Record In Q3 2021
$12.05 billion of the Q3 revenue was from traditional gaming such as slots and table games. Despite a gaming industry record high, sports betting hit a quarterly low for 2021 in Q3 of 2021. LAS VEGAS – The reported revenue for the nationwide commercial gaming industry in the third quarter of 2021 has broken a…
Read MoreOnline Gambling Revenue Spikes In New Jersey And Pennsylvania
Pennsylvania casinos reported $97.8 million in online gambling revenue in September. New Jersey casinos reported $122.6 million in online gambling revenue in September. Online poker went up in New Jersey but dipped in Pennsylvania. TRENTON, N.J. – New Jersey and Pennsylvania iGaming players were active in September, as both markets saw an increase in action…
Read MoreMichigan Sees Major September Revenue Boom At Detroit Casinos
The MGM Resorts, MotorCity Casino, and Greektown Casino have seen a combined $110.4 million in gambling revenue for September 2021. Table games and slots reported $106.9 million, while retail sportsbooks reported $3.5 million. Revenue has spiked year-over-year compared to September 2020’s $87.9 million that was reported. DETROIT – Detroit casinos have seen a successful September,…
Read MoreOregon Mobile Sports Betting App Makes $1.2M in September
The Scoreboard app made $1.2 million in revenue in September for Oregon.More bets were placed on the NFL than any other sport among users of the application. DraftKings may replace the Scoreboard app in the future for Oregon sports bettors. SALEM, Ore. – Mobile sports betting revenue did well in September for Oregon, thanks to…
Read MoreDraftKings Outperforms Competitors In Indiana For August Handle
The Indiana Gaming Commission’s (IGC) sports betting report shows DraftKings collected the most handle in August with $74.2 million. FanDuel on the other hand, boasted $52.6 million for wagers taken in August. FanDuel was able to generate more revenue than DraftKings despite having a smaller handle because they had fewer winners for the month. INDIANAPOLIS…
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