Rhode Island’s sports betting market saw revenue soar in January 2020 thanks to a strong performance from the Twin River casino in Lincoln.
Total revenue grew from $159,978 in January 2019 to $3.3m, though the prior year’s performance was impacted by a $124,373 loss from Twin River Tiverton, and the fact that mobile betting had not yet launched.
Total stakes for the month, in which the National Football League playoffs took place, amounted to $26.9m, a 41.4% year-on-year improvement, with players winning $23.7m.
Twin River Lincoln was the month’s star performer, with revenue of $2.1m, up from $284,351 in the prior year, from $14.7m in stakes.
The venue outperformed the Twin River-branded mobile offering, which launched in September 2019. Mobile stakes were down 10.9% month-over-month at $7.8m, with revenue for the channel amounting to $772,836, up 26.0% compared to December 2019.
The Twin River casino in Tiverton, meanwhile, saw handle grow 31.7% year-on-year to $4.5m. Customers won back $4.0m, leaving revenue of $436,597 – a significant improvement on January 2019’s monthly loss.