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Delaware Online Casino Revenue Falls Below $4M in May

Delaware’s online casino revenue fell 12.2% to $3.9 million in May 2024, down from $4.4 million in April. Despite the monthly drop, the revenue reflects a notable 216% increase compared to May 2023, highlighting substantial year-over-year growth.
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Branimir Ivanov | Senior News Contributor

Updated: Jun 24, 2024

Delaware's impressive 2024 numbers

Delaware’s online casino market experienced a notable downturn in May 2024, marking a consecutive monthly decrease in revenue for the first time this year. According to the Delaware Lottery, which oversees gaming in the state, the total online casino win for May amounted to $3.9 million. This figure represents a 12.2% decline from April’s revenue of $4.4 million. Despite the month-over-month drop, the year-over-year growth remains substantial, with a 216% increase from May 2023.

The decline in May is part of a broader trend observed in Delaware’s iGaming sector over recent months. After beginning 2024 with impressive gains, the market has seen a reduction in momentum. Below is a detailed overview of the monthly performance in 2024:

  • January: $3,408,944 — 192.2% increase from December 2023
  • February: $3,869,853 — 13.5% rise
  • March: $4,631,369 — 19.7% increase
  • April: $4,438,542 — 4.2% decrease
  • May: $3,896,433 — 12.2% drop

The sharp decline in May followed a modest reduction in April, indicating a cooling period for the market after its early-year surge.

 

Casino-Specific Performance

Of Delaware’s three licensed online casinos, Delaware Park Casino continues to lead the market, reporting an increase in revenue despite the overall decline. The specific figures for each casino in May 2024 are:

  • Delaware Park Casino: $2,271,888 (up from April’s $2,000,093)
  • Bally’s Dover: $776,191 (down from $1,040,439)
  • Harrington Casino & Raceway: $848,354 (down from $1,398,010)

While Delaware Park showed resilience with a 13.6% month-over-month increase, both Bally’s Dover and Harrington Casino experienced significant declines. These fluctuations reflect the competitive and volatile nature of the online gaming market.

 

Legislative Developments

The performance of Delaware’s online casinos could soon be influenced by new legislation. House Bill 365 (HB365), currently under consideration, proposes to end Rush Street Interactive’s (RSI) BetRivers’ monopoly on online sports betting in the state. If passed, HB365 would allow the Delaware Lottery to license up to six sports betting operators. The state’s three “video lottery agents” could then partner with up to two mobile sportsbook operators each.

This potential expansion is poised to reshape Delaware’s online gambling landscape by introducing competition. Proponents argue that the move could enhance consumer choice and increase state revenue. The model, which would permit entry of prominent operators like DraftKings and FanDuel, is in contrast to the current single-operator system similar to Rhode Island’s approach with Bally’s.

Delaware’s iGaming market has seen considerable evolution since the transition to RSI’s BetRivers platform from 888 Holdings in December 2023. This change aimed to modernize the state's online gaming infrastructure and enhance user experience. However, the current legislation highlights ongoing debates about the optimal structure for the online gambling market.

The single-operator system, while streamlined, has faced criticism for limiting market growth potential. Delaware’s market dynamics, including regulatory changes and competition, will likely continue to evolve as stakeholders seek to balance growth and regulation.

Outlook

While the May 2024 decline indicates a slowdown, the substantial year-over-year growth highlights the underlying strength and potential of Delaware’s online gaming sector. The market’s performance for the remainder of 2024 will be closely watched, particularly in light of the pending legislative changes.

For more information on Delaware’s online gaming revenue and future developments, visit the Delaware Lottery’s official website.

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