November wasn’t a very prosperous month for Rhode Island’s two physical and single online sportsbooks. Although the November sports betting handle (total bets) showed a slight growth from October, the revenue was still down month-over-month and year-over-year.
According to the numbers released by the Rhode Island Lottery, the November revenue total of $3.41 million was the lowest since the start of the 2024 fiscal year. The November total comes right after August when operators generated $1.36 million in revenue.
Sports betting revenue was down monthly and yearly
Rhode Island online operator Caesars and physical sportsbooks Bally’s Twin River Lincoln and Bally’s Tiverton accepted nearly $48.28 million in bets throughout November.
Of that money, the books won more than $3.41 million, which was a 24.91% monthly drop and a 29.81% yearly down. Here’s a glimpse of the sports betting revenue figures for November:
- Twin River: $488,920
- Tiverton: $348,253
- Online: $2,576,027
When it comes to total bets, most of the money players gambled during the month went through the online sportsbook ($38.64 million). The remaining $9.64 million came from the state’s retail locations:
- Twin River: $6.03 million
- Tiverton Casino: $3.61 million
Rhode Island’s November handle figure is a 21.13% annual decrease from the $61.21 million generated in 2022. However, the number is a 5.32% monthly rise compared to the $45.84 million generated in October 2023.
So far, in FY2024, the books took in $14.69 million in revenue since July. That’s $8.56 million less than the same period last year.
Slots and table game play dropped in November
The Rhode Island Lottery’s November report notes that the net terminal income (NTI) from VLT machines was $40.76 million, a 3.50% decrease from October 2023. The figure is also a 1.52% drop from November 2022.
Meanwhile, the total net revenue from table gameplay was $10.81 million in November, a 6.09% monthly drop and a 5.52% annual decrease.
Rhode Island Lottery sales revenue dropped monthly
Apart from casino and sports betting revenue numbers, the Rhode Island Lottery reveals its monthly lottery sales data.
According to the Rhode Island Lottery’s October revenue report, lottery sales dropped to $23.50 million in November from $27.59 million generated in October, showing a 14.81% decrease.
Players were mostly buying instant tickets ($10.07 million), and Keno was next ($7.47 million), followed by number games ($1.88 million).
https://www.playusa.com/november-2023-gaming-revenue-rhode-island/