Delaware Online Casinos Experience Revenue Dip in April

Delaware's online casino market, which had been experiencing robust month-on-month growth, saw a slight dip in revenue this past month. According to the latest data from the Delaware Lottery, which oversees gaming in the state, the combined revenue for Delaware's three online casinos reached $4.4 million in April 2024. This figure represents a 4.4% decline compared to March 2024's gaming revenue but a remarkable 243.1% increase year-on-year.

Key Takeaways

April marked the first monthly revenue decline since BetRivers launched in late December 2023. Despite the monthly dip, yearly revenue more than doubled in April. BetRivers Casino has significantly boosted the Delaware iGaming market, and April's revenue data indicates that Delaware online casinos still have much to celebrate.

 

1. April Revenue Decline: Delaware's online casinos experienced a 4.4% revenue dip in April 2024, marking the first monthly decline since BetRivers launched in December 2023.
2. Significant Yearly Growth: Despite the monthly dip, April 2024 revenue saw a 243.1% year-on-year increase, indicating substantial growth in the state's iGaming market.
3. BetRivers' Positive Impact: The transition to BetRivers has revitalized Delaware's online casino market, with all three casinos consistently surpassing $1 million in monthly revenue since the change.

 

Monthly Performance Overview

The April revenue decline was the first since BetRivers began operations in January 2024. Despite this, Delaware's sub-5% decline is modest compared to the double-digit declines seen in other casino markets across the country. Delaware Park Casino continues to lead the state’s online casinos in both table games and slots revenue. Notably, all three casinos surpassed the $1 million revenue mark, a feat that seemed unattainable just a year ago when 888 Holdings operated Delaware's online casinos.

In terms of specific performances, Delaware Park Casino generated $2 million in total revenue, with table games contributing $646,079 and slots bringing in $1,354,014. Bally's Dover followed with a total revenue of $1,040,439, including $250,338 from table games and $790,101 from slots. Harrington Casino & Raceway reported $1,398,011 in total revenue, with table games accounting for $246,678 and slots for $1,151,333.

Monthly Revenue Trends

Since BetRivers took over operations, Delaware’s iGaming market has seen significant growth. In April 2024, the total revenue was $4.4 million, reflecting a 4.16% decline from March’s $4.6 million. However, March itself had shown a substantial increase of 19.68% from February’s $3.9 million. January marked a major surge with revenues climbing to $3.4 million, a staggering 192.21% increase from December 2023. This surge followed the December 27 launch of BetRivers, which brought new momentum to the market. In the months leading up to this, revenues were notably lower, with November at $1.1 million and October at $982,919, showing minimal growth or slight declines.

 

“April's 4.4% revenue dip for Delaware's online casinos is a minor setback in an otherwise strong growth trajectory, evidenced by a remarkable 243.1% year-on-year increase, thanks largely to BetRivers' transformative impact on the state's iGaming market.”

 

BetRivers Casino's Impact

The transition from UK-based 888 Holdings to US-based BetRivers, completed in late December 2023, has revitalized Delaware’s online casino market. Prior to BetRivers' entry, Delaware had never seen a month where both table games and online slots generated $1 million in revenue. Since BetRivers' launch, this milestone has been achieved four consecutive times. In January, table-game revenue alone surpassed $1 million for the first time in state history.

Year-on-year, the April revenue was up by an impressive 243.1%, following a 224.7% increase in March. These figures suggest a new era of growth and profitability for Delaware’s online casinos, underscoring the significant impact of BetRivers on the state's iGaming market.

The consistent revenue growth highlights the positive effect of the transition to BetRivers, not only stabilizing the market but also driving it to new heights. This upward trend reflects increased player engagement and a broader acceptance of online gaming within the state. With BetRivers at the helm, Delaware's iGaming future looks promising, paving the way for continued growth and innovation in the industry.