Rhode Island reports revenue rise in September
The sports betting market in Rhode Island has experienced a significant increase in revenues during September operations.
US.- The Rhode Island Lottery reported this week that sports betting revenue from September operations exceeded expectations. The segment posted US$2.5 million from sports betting, which is almost three times higher than what it has registered in August.
The US$2.5 million figure is 195.4% higher than August’s US$851k and breaks the US$2.2 million monthly record that was set in June 2019. This increase was led by a rise in sports betting handle, which reported a 120.6% increase to US$22.2 million, up from the US$10.1 million in August.
While mobile sports betting was introduced last month, retail is still the most popular modality of sports betting. In September, players wagered US$18.9 million at Twin River Casino in Lincoln and Twin River Tiverton. This represents a 177.7% increase from the US$10.6 million wagered in August.
August results
The Lottery said that punters spent US$10.6 million on sports betting. This means that overall revenue from those bets accounted US$851k in August, an increase from the US$827k reported the previous month. Consumers’ spending also increased by US$2.3 million.
Twin River Casino in Lincoln was the leading facility during August, posting US$607k in revenue. Punters spent US$7.4 million, which is US$800k higher than what they directed to sports betting in July.
On the other hand, Twin River Tiverton experienced an 18.7% increase in revenues from July. August’s figure totalled US$243k, and consumer spending was US$2.1 million, a US$600k increase from July.
