This week’s State of the Union, in partnership with Segev LLP, covers the latest revenue figures from a range of markets, including the continuing growth in customer activity – though not necessarily revenue – in New Jersey and Pennsylvania.
NJ sports betting revenue dips despite record handle in November
Sports betting revenue in New Jersey fell 29.1% month-on-month to $32.9m in November, despite the state processing a record amount of wagers during the month.
Revenue was down from a record $46.4m in October, but the November figure was up by 54.8% on a year-on-year basis from $21.2m in the same month last year.
Sports betting handle for November came in at $562.7m, up 15.3% from the previous record of $487.9m in October of this year. Online was again by far the most popular form of sports betting, with $486.7m wagered over the internet and $75.9m in-person.
Record handle also meant that New Jersey processed more sports bets than Nevada in October ($542.5m). However, the revenue total of $32.9m meant New Jersey was some way behind the $47.9m generated by Nevada in October, with Nevada yet to announce its November results.
Pennsylvania betting handle passes $300m in November
Pennsylvania’s regulated sports betting market saw monthly handle grow beyond $300m for the first time in November, thanks to a soaring mobile contribution, while online casino benefitted from a leap in table games stakes.
Amounts wagered on sports across all channels amounted to $316.5m for November, a 31.2% improvement on the prior month, according to the figures from the Pennsylvania Gaming Control Board. This was driven by online betting, which accounted for $266.7m, or 84.3%, of the total.
Retail’s contribution was also up month-on-month to $49.7m, though handle is growing at a slower rate than the state’s online market.
Iowa sports betting revenue falls 36.4% in November
Iowa’s regulated sports betting market has recorded a 36.4% month-on-month decline in revenue for November, after a rise in handle was accompanied by an increase in payouts to customers.
Amounts wagered for the month were up 27.6% from October at $59.3m, with signs that the gap between retail and internet is starting to widen.
Total retail handle for the month climbed 24.8% to $25.7m, with online ahead on $33.7m, up 29.9%, the figures from the Iowa Racing and Gaming Commission show.
Delaware’s online gaming market recovers in November
Licensed online gambling operators in Delaware posted $376,331 in collective revenue for November, the second-highest monthly total of the year so far and a significant improvement on the year-low of $246,092 in October.
Market revenue was up 52.9% on a month-on-month basis, while the November performance placed Delaware just behind its year-high result of $384,820 in September.
Players spent a total of $12.4m, which was up from $9.8m in October and also higher than $11.8m in September when the state set its yearly record. Punters won $12.0m from online gaming during the course of November.
Hard Rock launches GiG-powered sportsbook in Iowa
Hard Rock International has launched a mobile sportsbook in Iowa, powered by Gaming Innovation Group (GiG), complementing the bricks-and-mortar offering rolled out in September.
Iowa becomes the second state into which the partners have entered, having rolled out a sportsbook in New Jersey in January this year.
FanDuel lands sportsbook deal with Cordish Companies
Flutter Entertainment-owned FanDuel Group has announced details of a new strategic partnership to deliver both its fantasy and sports betting operations to Cordish Companies locations throughout the US.
The Cordish Companies is a real estate and entertainment business that operates a range of dining and gambling establishments across the US under the Live! brand. It claims to attract 55m visitors a year to these properties.
Maverick Gaming finalises acquisition of CC Gaming assets
US casino operator Maverick Gaming has completed its acquisition of the gaming and non-gaming assets of Colorado-based CC Gaming.
Maverick will take ownership of the Z Casino in Black Hawk, the Grand Z Casino Hotel and Johnny Z’s Casino in Central City, as well as the Z Stop Convenience Store and Gas in Golden.
Gambling.com Group wins approval to launch in Indiana
Gambling.com Group has announced that its KAX Media America US subsidiary has secured approval from the Indiana Gaming Commission to begin offering its performance marketing services to licensed operators in the state.
Indiana opened its legal sports betting market on September 1 and KAX Media will now be permitted to work with licensed operators active in the state to support them with marketing.
Scientific Games extends igaming deal with Pennsylvania Lottery
Scientific Games has secured a seven-year extension to its iLottery online and mobile games deal with the Pennsylvania Lottery.
Under the deal, which was agreed following a highly competitive procurement process, Scientific Games will continue to provide iLottery technology, online and mobile games, and services to the Lottery.