Delaware’s sports betting industry saw a downturn in March as the total handle reached its lowest point since August 2022. The month’s sports betting handle amounted to $3.5 million, marking a 32.7% decline from the same period in 2022 and a 14.6% decrease from February 2023. While the sports betting sector faced challenges, Delaware’s online gaming segment showed promise, recording a handle of $41.5 million in March. This article explores the details and implications of these trends.
Sports Betting Decline:
In March, Delaware’s sports betting handle reached $3.5 million, representing a sharp drop from previous months. Key takeaways include:
A 32.7% year-on-year decline, reflecting challenging market conditions.
A 14.6% decrease compared to February 2023.
Delaware Park emerged as the top operator, generating $299,843 in revenue from $1.9 million in wagers.
Bally’s Dover reported $150,946 in revenue from $963,286 in bets, and Harrington Raceway generated $94,514 in revenue from $599,545.
iGaming Resilience:
While sports betting faced headwinds, Delaware’s online gaming segment demonstrated resilience in March. Highlights include:
A 11% year-on-year increase in the online gaming handle, amounting to $41.5 million.
A 9.2% month-on-month growth from February 2023.
Players wagered $13.5 million on table games and $28 million on video lottery.
iGaming revenue surged to $1.4 million, marking a 40% year-on-year growth and a 27.3% increase from February. Breakdown of iGaming revenue includes:
$1.1 million from video lottery games.
$260,395 from table games.
$32,152 from poker rake and fees.
Operator Performances:
Bally’s Dover casino excelled in the online gaming sector, reporting $555,565 in revenue from $14.9 million in bets. Delaware Park also performed well, with $443,421 in revenue from $16.5 million, while Harrington Raceway registered $427,478 in revenue from $10.1 million.
Terry Glebocki Appointed as Delaware Park Casino President and GM:
Delaware Park Casino & Racing has appointed Terry Glebocki as its new President and General Manager. Glebocki, who previously served as CEO of Ocean Casino Resort in Atlantic City and President of Atlantic City’s Casino Association, will lead the strategic direction and day-to-day operations of the facility.
March saw Delaware’s sports betting handle reach its lowest point in seven months, while the online gaming sector continued to flourish. The juxtaposition of these trends emphasizes the dynamic nature of the state’s gambling industry, offering opportunities and challenges to operators in the region.