One month after Rhode Island has legalized online casinos in their jurisdiction, the Ocean State has seen a good boost in revenue for April. According to reports released by the Rhode Island Lottery, Rhode Island’s online casino revenue totaled to $2.08 million. This equates to a 72% increase from the previous month in March which reaped in $1.21 million.
What is the Breakdown of Rhode Island’s Online Casinos?
According to the Rhode Island Lottery’s 2024 iGaming Report for April, the numbers generated by online casinos showed significant positive movement than the previous month. Specifically, the total iGaming revenue from online slots and table games went from $1.2 million in March to over $2.08 million in April.
Diving deeper into the numbers, Rhode Island’s revenue acquired from online slots for April raked in $1.34 million, which makes up 64% of the total revenue. Meanwhile, online table game revenue totaled to $740,579, filling up the rest of the total revenue at 36%.
As far as taxes, internet casino gaming in April totaled $929,000, lifting the two-month total to nearly $1.6 million since online casinos have been legalized. Given the current numbers, while Rhode Island’s online casino environment is still in its growing phase, the positive numbers for the first two months is a great sign.
That said, while April was unquestionably more successful than March for Rhode Island, it is important to note that March’s numbers reflected 27 days of gaming instead of 31 days, since online casinos in the state became officially legal back in March 5.
How Does This Compare to Other States?
April is notorious for being a leaner month compared to March, since the latter is typically the busiest month as far as events are concerned. March is generally when casinos report higher revenues for the first quarter of the year.
April is usually the time when numbers start to drop for online casino revenue. However, for the states where online casinos are legal, April 2024 is still a productive month for them. Among the seven US states that have legalized online casinos, here is the list of the state that raked in the most online casino revenue for April:
- Pennsylvania – $212,212,615; down 9.0% behind the state’s gaming revenue record in March of $233 million
- Michigan – $192,933,491; the second highest revenue in the state history, but down 10% month-over-month
- New Jersey – $187,879,067; nearly 4.70% decrease from $197.1 million in wins during record-breaking March
- Connecticut – $42,584,721; around 3.20% monthly drop
- West Virginia – $17,797,826; nearly 11.0% behind the $20.7 million hit in March
- Delaware – $4,438,542; down 4.40% from the record $4.63 million set in March
- Rhode Island – $2,081,358
In total, all seven states garnered a total of $658.83 million in revenue and surpassed $20 billion all-time. Pennsylvania got the lion’s share of the market at 32%.
Rhode Island is the latest state to legalize online casinos, and it is expected that the Ocean State will be in the bottom in terms of revenue being reaped in. The Big Three, which consists of Pennsylvania, Michigan, and New Jersey, continue their strong showing for the first quarter of 2024. The numbers above notes that the top three states all shown some dips in their overall numbers, but they continue to remain consistently above at least $150 million. This indicates that the online casino industry in the top three states are alive and well.
As far as numbers, Delaware’s numbers in April are the closest to Rhode Island’s, but it is worth noting that the Diamond State has legalized online casinos in their jurisdiction since 2012. This makes Rhode Island’s numbers promising, since there is a market for casino games online in the state. Rhode Island residents are looking into online casinos as a form of entertainment, and it is up to the operators to keep the ball rolling for the rest of the year and establish a solid presence in the online casino industry in the US which in turn will help cultivate the Rhode Island’s market where residents can play slot games online.
Last Updated on by jonathan r
