Delaware Lottery Faced Revenue Declines In November 2020

Article by : Helen Dec 30, 2020

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Delaware is the multinational lottery game with the progressive jackpot. Each year it generates around half a billion dollars from Table Games, KENO, Video Lottery, Draw Games, and Sports Lottery. The Delaware Lottery Retailers network includes over 600 licensed sites around the country, so it’s obvious how powerful the lottery is. However, the Covid-19 pandemic has made its corrections: recently, an iGaming decline was reported.

The decline lasted six months: in November, people gambled for 7.9% less compared to October. The lowest number ($16.35 million) was recorded in March, while in November it was $16.4 million. Three casinos in the country had been closed for 2,5 months until June 1; despite that, May showed a $29.5 record. However, since May, the Lottery has been taking losses for half a year. There was a decline, but in comparison with the same period of 2019 when it was gambled $12.4 million, figures in November 2020 were 32.3% higher.

As for the Lottery winnings: in November, the figures reached $15.9 million only — 7.6% less than in October, and it has been the lowest data since March. On the other hand, it is 32.5% more than in November 2019. A decrease can be seen in net gaming revenue as well: compared to October 2020, it fell by 11.9% to $568,000. Once again, the figures are 51% better compared to November 2019. Despite an overall decline in the amount won, there has been recently reported that a 22-year-old woman received a $100,000 prize while playing the instant Game Limited Edition.

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Dover Downs was a top performer for some time, but after it reported a multimillion-dollar loss in late June, Delaware Park took its place. It was wagered around $6.2 million while the amount won was $6 million. As a result, Delaware Park received a $234,800 net gaming revenue. A Dover Downs’ net loss in Q2 of 2020 was $2.36 million, and gaming revenues fell by 70% compared to the same period of 2019. President and CEO of Twin River, the company that owned Dover Downs, said: “We were thrilled to have welcomed back our valued team members and loyal customers at all of our properties to safe and secure environments that meet or exceed CDC safety guidelines.”

888 is one of the most famous gaming providers globally, and Delaware Lottery iGaming cooperates with it. Since 2013, 888 has been Delaware’s supplier, and in July, they made a new two-year contract. It means the gamblers may play video lottery, poker, and table games.

Having a look at the half-yearly report of the 888 company, it is worthy to note that its group revenue increased by 37% to $379.1 million, while for the same period in 2019, it received $277.3 million. There was a 56% increase in adjusted EBITDA, while profit before tax increased by 130% to $50.9 million. B2C revenue faced positive changes as well, but sports revenue is an exception: it fell by 1%.