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Rhode Island sports betting revenue rises to $2.3m in February


Sports betting revenue in Rhode Island totalled $2.3m in February, representing a significant improvement on the loss of $890,623 posted in the same month in 2019.

February’s revenue total was 30.3% lower than $3.3m in January of this year, but the amount wagered by players was up 4.5% month-on-month to $28.1m. Consumer spending was also up 35.8% on a year-on-year basis.

Players won a total of $25.8m from sports betting in February – during which the NFL’s end-of-season showpiece Super Bowl took place – up 19.4% on last year.

The Twin River Lincoln casino retained top spot in the market, posting $1.5m in revenue for February, compared to a loss of $908,264 in the same month last year. This was despite consumer spending falling 8.4% to $15.2m.

Twin River’s other casino in Tiverton posted $413,626 in sports betting revenue, up a massive 2,244.7% from just $17,641 in February last year. Player spending also increased by 11.7% year-on-year to $4.5m.

Mobile sports betting revenue at Twin River’s Tiverton casino totalled $407,050, down 47.3% month-on-month and the lowest monthly amount since the service launched in September last year. However, mobile stakes were up 9.0% from $7.8m in January to $8.5m.