May proved to be a challenging month for Delaware’s sports betting industry, as the handle experienced a significant decline, marking the lowest monthly total in nine months. With a handle of $2.8 million, down 45.1% from May 2022 and 17.7% behind April 2023, the industry faced notable headwinds. The corresponding sports betting revenue also saw a dip, registering $245,474, a 50% year-on-year decrease and a 34.5% decline from April. This downturn is notable in a market that has been grappling with various factors affecting its performance.
Sports Betting Performance:
Delaware Park emerged as the leading operator in May, generating $112,768 in revenue from $1.3 million in wagers. Bally’s Dover followed closely with $68,221 in revenue from $740,564, while Harrington Raceway recorded $33,500 in revenue from $377,031. Despite these individual performances, the overall decline in handle and revenue indicates a broader trend impacting the sports betting landscape in Delaware.
Online Gaming Resilience:
While sports betting faced challenges, Delaware’s online gaming sector exhibited resilience in May. The online gaming handle reached $44.2 million, marking a 38.6% year-on-year increase and a further 11.9% rise from April 2023. Players wagered $17.5 million on table games and $26.6 million on video lottery, showcasing sustained interest in online gaming activities.
Online Gaming Revenue Breakdown:
Revenue from online gaming reached $1.2 million in May, reflecting a 9.1% year-on-year increase. However, it experienced a 7.7% drop from April’s figure of $1.3 million. The breakdown of online gaming revenue includes $976,880 from video lottery games, $216,554 from table games, and $38,318 from poker rake and fees.
Operator Performance in Online Gaming:
Delaware Park maintained its position as a frontrunner in the online gaming sector, recording $509,183 in revenue from $18 million in bets. Bally’s Dover followed closely with $381,383 in revenue from $13.5 million, while Harrington Raceway registered $341,185 in revenue from $12.7 million. These figures underscore the resilience of online gaming compared to the challenges faced by the sports betting segment.
May posed notable challenges for Delaware’s sports betting industry, with the lowest monthly total in nine months. However, the online gaming sector displayed resilience and maintained an upward trajectory. The nuanced performance across different segments of the industry emphasizes the dynamic nature of the market and the need for operators to adapt to changing circumstances. As the industry navigates these challenges, strategic insights and adaptability will play crucial roles in shaping its future trajectory.