Delaware iGaming Revenue Hits Record $5.75M in August

Delaware’s online casinos have shattered their revenue record for the third consecutive month. The state's iGaming revenue reached $5.75 million in August, representing a 10.73% increase from July and an astronomical 419.40% jump compared to the same period last year. This growth, largely driven by the state's three online casinos—Delaware Park, Bally’s Dover, and Harrington Raceway & Casino—marks a significant achievement in the rapidly evolving online gambling market.

August’s milestone comes on the heels of July’s performance, which saw iGaming revenue exceed $5 million for the first time in Delaware’s history. Delaware Park Casino remains the top performer, capturing 54.47% of the state's total iGaming revenue for August, further cementing its dominance in online table games and slots.

The partnership between Delaware’s online casinos and Rush Street Interactive (RSI) in January 2024 has proven to be a game changer. Since the deal, which gave RSI control over the state’s iGaming operations, monthly revenue has surged. January saw a 192.21% revenue increase compared to the previous month, and that momentum has carried forward throughout the year. The collaboration has bolstered user experience, leading to higher customer retention and increased betting activity.

 

Record-Breaking Table and Slot Wins

The Delaware Lottery’s August 2024 report also revealed that both table games and online slots set revenue records for the month. Table games generated $2,009,796, while slot games brought in $3,740,999, demonstrating strong performance across the board.

Looking at year-on-year figures, the state’s iGaming sector has grown tremendously, particularly when compared to last August's $1.1 million in revenue. The success of online slots, in particular, has been crucial to the industry’s expansion, with consistent monthly growth since June. Even during April and May, when revenues dipped, online slots maintained a steady contribution to the overall earnings.

Despite its smaller population of just over 1 million, Delaware continues to punch above its weight in the national iGaming scene. While larger states such as Pennsylvania, New Jersey, and Michigan dominate the market with monthly revenues in the hundreds of millions, Delaware’s progress is noteworthy. For comparison:

• Pennsylvania earned nearly $225 million in online casino revenue in August.
• New Jersey generated $198.4 million.
• Michigan reported $196.7 million.

Though these states operate in a different league, Delaware's growth trajectory positions it as a rising player in the U.S. iGaming sector. The 419.40% year-over-year increase demonstrates the state’s potential to become a significant contributor to the national market, despite its size.

 

Future Outlook

Looking forward, Delaware’s monthly revenue is expected to continue growing, though at a slower pace than the triple-digit increases seen earlier this year. As the state enters the final quarter of 2024, experts predict a more tempered rise in monthly earnings. Factors such as market saturation, economic conditions, and the impact of other states launching or expanding their iGaming operations will play a role in Delaware's future performance.

However, given the continued engagement of players, particularly in table games and slots, the state’s online casinos are well-positioned to maintain steady growth. The strong partnership with RSI, coupled with effective regulation by the Delaware Lottery, will likely keep the state’s iGaming market thriving.

In conclusion, Delaware's iGaming industry is in a period of sustained expansion. The state has successfully leveraged its smaller market size to break records and outpace national trends in percentage growth. As 2024 progresses, Delaware will remain one to watch in the rapidly changing U.S. online gambling landscape.