In April, Kansas witnessed a slight downturn in casino revenue compared to the previous year and a significant decrease from the previous month. Specifically, the total casino revenue for the state was $34.9 million, marking a 1.6% decline year-on-year and a more pronounced 9.7% drop from March, where revenue stood at $38.6 million. Despite this decline, April’s figures notably surpassed the revenue reported in January and February of the same year.
Breaking down the contributions, all four major casinos in Kansas reported decreases in revenue compared to March. The Kansas Star Casino led the pack with $13.8 million in revenue, followed closely by Hollywood Casino at $13.6 million. Boot Hill Casino reported $3.9 million, while Kansas Crossing Casino brought in $3.4 million. Notably, Hollywood Casino was the sole establishment to achieve year-on-year growth, improving from $13.4 million in April 2023.
Performance of Sports Betting in April
Simultaneously, sports betting in Kansas experienced contrasting fortunes. The total sports betting handle in April reached $192.1 million, marking a robust 44.4% increase from the same period last year. However, this figure represented a decline from the handle reported in March, which stood higher at $252.9 million. The breakdown between online and retail bets revealed online wagers dominating the landscape with $185.9 million, whereas retail bets amounted to $6.2 million.
Despite the dip in handle from March, sports betting revenue saw a positive trajectory year-on-year, growing by 13% to reach $10.4 million in April. Of this total, online betting contributed significantly with $10.3 million, while retail betting made a nominal contribution of $79,989.
Tax Implications and Financial Year Overview
From a fiscal standpoint, sports betting also contributed significantly to the state’s tax revenue. In April alone, tax revenue from sports betting amounted to $1 million, primarily driven by online betting activities. Cumulatively for the financial year to date, sports betting revenue tallied $98 million, reflecting a substantial handle of $2.05 billion. Of this handle, online bets accounted for $1.96 billion, while land-based locations contributed $89.5 million.
In terms of tax collection, the state accrued $9.8 million from sports betting operations, underscoring its growing role in bolstering state finances.
The data illustrates a nuanced picture of the gambling landscape in Kansas for April. While casino revenue declined both year-on-year and month-on-month, sports betting continued to show resilience with substantial year-on-year growth in handle and revenue, despite a sequential decline from March figures. This dual-track performance underscores the evolving dynamics within Kansas’ gambling sector, influenced by various factors including consumer behavior, economic conditions, and regulatory frameworks.