Rhode Island’s sports betting handle for the 2023 financial year decline year-on-year despite consumers spending more than $500.0m.
Handle for the 12 months to June 30 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.
Online wagering contributed $32.7m of all revenue in the year and retail $In the8.0m. Revenue at Twin River amounted to $11.4m and Tiverton $6.8m.
Decline in June
Player spending in the final month of the financial year was also down. June’s total handle hit $23.7m, a 30.7% fall from $34.2m last year and 23.1% behind $30.8m in May 2023.
Online betting spend was $17.3m and retail $6.5m. Twin River processed $3.6m in over-the-counter bets and Tiverton $2.9m.
Monthly revenue in June amounted to $1.8m, down 25.0% from $2.4m last year. Revenue from online betting was $1.5m and retail $293,397. All land-based revenue came from Twin River, with Tiverton posting a $5,482 loss.
Player winnings for the month were $21.9m.