Colorado sports betting handle reaches $608.5m in November
The handle was up 10.1 per cent year-over-year.
US.- Colorado’s sports betting handle was $608.5m in November, according to the Colorado Division of Gaming. That’s up 10.1 per cent year-over-year and up 9.7 per cent compared to October ($554m). Of the total, $602.9m was bet online and $5.6m at retail channels.
Revenue was $28.6m, a decrease of nearly 24 per cent year-over-year and 39 per cent from October 2023. Operators posted $13.6m in net revenue. This indicates that they gave over $14m in promotional credit, potentially driven by the launch of ESPN Bet.
American football was the most popular sport to bet on in November, with bets of $151.2m. After $146.2m in winnings, NFL bets made $5m in revenue. Basketball followed with a handle of $143.6m and revenue of $5.7m. College basketball and football accounted for 14.8 per cent while tennis made up 3.7 per cent of bets and hockey 3.2 per cent.
Players wagered over $135.3m on parlay bets, which resulted in $124.2m in payouts and $11.1m in gross revenue for operators. The state took $1.49m in taxes.
Rocky Mountain Gaming to acquire Johnny Nolon’s Casino and Colorado Grande Casino
In December, Rocky Mountain Gaming entered into a definitive agreement with Minter Holdings to acquire the operating assets of Johnny Nolon’s Casino and with G Investments to acquire the operating assets of the Colorado Grande Casino. Both properties are managed by David Minter through Minter Holdings. The deal is pending approval and licensing from the Colorado Division of Gaming.
Rocky Mountain Gaming was founded by David D. Ross, Michael J. Gaughan III and Joseph J. Canfora. They have worked together for approximately 30 years in senior management for Coast Casinos, Affinity Gaming, and the JW Marriott & Rampart Casino.
