Internet Casino Gaming Revenue Hits Monthly Record Of $542.7M

$5,000 Welcome Bonus

Play Now

• 
• 
• 
• 
• 
• 

The six states that offer legal internet casino gaming combined to generate $542.7 million in gross revenue in September, an all-time monthly high for operators.

September’s total eclipsed the previous record of $534.5 million established in March, marking the third time the group of six topped half-a-billion dollars. It was a 31.9% increase from the $411.6 million reported in September 2022 and 9.5% higher than the $495.8 million operators collected in August.

Five of the six states either set all-time monthly highs or had their second-best revenue total, with only Delaware failing to accomplish that feat. The collective adjusted gross revenue (AGR) of $518.8 million following known deductions reported by Connecticut and Michigan was also an all-time national monthly high, edging past the previous standard of $511.4 million established in March.

Record monthly revenue led to a best-ever amount of combined state taxes at $110.8 million. That lifted the overall total for the first nine months of 2023 to $890.8 million, which was $183.8 million ahead of last year for the same span.

Known handle — New Jersey and Michigan do not report handle figures for iGaming — topped $7 billion for the first time, as the other four states reported $7.4 billion worth of accepted wagers for September. Pennsylvania accounted for close to 80% of that total with $5.8 billion handle.

Michigan tops “Big 3” despite Pennsylvania’s new high

Michigan led the six states in gross iGaming revenue with $166.4 million, though it drops to third behind New Jersey ($163.8 million) and Pennsylvania ($159.5 million) for AGR with $149.8 million. DraftKings and FanDuel accounted for the bulk of the 29% year-over-year increases, with DraftKings setting an all-time monthly high for Wolverine State tribal-tethered iGaming suites at $37.1 million — up 69.8% from last year.

FanDuel’s September haul of $35.2 million was also an all-time high for the online titan in Michigan and 56.6% higher versus 2022. Both iGaming platforms have exceeded their full-year 2022 gross revenue totals, and the 15 tribal operators came within $12,000 of $80 million in gross revenue for September.

The trio of Resorts, Golden Nugget, and Borgata combined for $132.1 million of New Jersey’s revenue, as the overall amount was within $2 million of March’s all-time high of $165.7 million.

Resorts set an all-time monthly high for total operator revenue at $45.4 million, which included a poker rake of close to $850,000. Golden Nugget claimed the state’s top iGaming revenue minus poker rake at $45.1 million, finishing a close second overall to Resorts. The Borgata’s $41.5 million was relatively flat compared to year, but it topped $40 million for a state-leading 13th time — all coming over the last 19 months.

Pennsylvania notched the double of all-time highs in revenue and handle. Operator winnings cleared $150 million for the first time and topped the record of $148.2 million established in March. September’s revenue total was a year-over-year increase of 41.5% from the $112.7 million reported in 2022.

September’s handle in Pennsylvania eased past the previous record of $5.5 billion set in March. Table games handle surged to an all-time high of nearly $2.86 billion — up 43.5% versus September 2022 — and was within $100 million of the monthly slot handle that totaled $2.95 billion. Overall handle increased 35.5% from the $4.29 billion in accepted wagers in September 2022.

FanDuel, DraftKings romp in Connecticut

In Connecticut, the de facto duopoly of DraftKings and FanDuel continue to be a winning combination. Their $37.6 million in gross revenue was up nearly 55% from the previous September, and the pair came within $16 million of the all-time handle record of $1.14 billion established in July.

DraftKings beat its eternal rival as the first iGaming operator in Connecticut to $20 million in monthly gross revenue, landing at $21.5 million, while FanDuel also set an all-time monthly high at just over $16 million. DraftKings also set a new state record for monthly internet casino handle at $673.9 million.

West Virginia‘s $14.3 million in revenue slotted behind April’s record of $15.6 million and was 53.7% higher compared to September 2022. It marked the 10th consecutive month that operator revenue was in eight figures, and the $111.6 million in year-to-date revenue is within $2.5 million of the full-year 2022 total of $114 million.

Delaware was the lone state to have a year-over-year decline in revenue, slipping 15.5% to more than $1.1 million. Video lottery games provided the bulk of the revenue with more than $856,000, and the $8.6 million in revenue from that discipline has accounted for 79.2% of the total $10.8 million in operator winnings for 2023.