Rhode Island’s sports betting revenue for the month of February remained consistent with the previous year, totaling $3.6 million. Despite this stability, the figures represented a decline of 30.8% compared to January 2023 when the state reported revenue of $5.2 million. The sports betting handle for February was $43.1 million, marking a 2.4% increase from the same month in 2022.
Revenue Breakdown:
In February, online wagers amounted to $28.5 million, while retail sportsbooks saw bets totaling $14.6 million.
Twin River Casino accounted for $8.7 million in retail sports betting revenue, with Tiverton Casino contributing $5.9 million.
Online sports betting yielded $2 million in revenue, while combined retail earnings from Twin River and Tiverton Casino amounted to $1.6 million.
Players received payouts totaling $39.5 million across both online and retail sports betting platforms.
Expansion of Rhode Island Twin River Casino:
Bally’s Corporation, the operator of the recently renamed Bally’s Twin River Lincoln Casino Resort, anticipates completing a significant expansion project by mid- to late April. The expansion, which comes at a cost of $100 million, began in September 2021 and is set to increase the gaming floor by 25%, adding 40,000 square feet. Additionally, the expansion includes the introduction of a new Asian-themed restaurant. Bally’s has already opened its new spa as part of the expansion project.
Rhode Island’s sports betting market displayed stability in terms of revenue year-on-year for February. However, the state experienced a decline in revenue compared to the previous month, reflecting fluctuations in sports betting activity. The imminent completion of the Bally’s Twin River Casino expansion is poised to further enhance the gaming experience and facilities for patrons, potentially contributing to future revenue growth.