Delaware iGaming Table Drop Hits $1 Billion off Strong February Results

Article by : Erik Gibbs Mar 28, 2024

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The Delaware Lottery announced a significant milestone in February, with a record-breaking gross internet casino revenue of $4.3 million. This surge in revenue is attributed to the transition to BetRivers Casino, which has shown remarkable year-over-year growth compared to its predecessor, 888 Holdings.

The overall activity in slots and table games also reached an all-time high, totaling $117.2 million in drop for the month. This marks an increase of 208.1% compared to the same period last year, which reported only a $38 million drop.

Additionally, the total amount wagered in the first two months of 2024 amounted to $220.5 million, nearly half of the total wagered by online patrons throughout 2023.

Last August, the Delaware Lottery selected Rush Street Interactive as its online gaming vendor, and the implementation of BetRivers Casino took effect in January. Alongside online casino gaming, online sports betting was also introduced as part of the state’s offerings.

Delaware’s tax revenue was notable, as it reached $2.4 million for February, marking the state’s first benchmark of taxation, which entails a 100% tax on the first $3.75 million in adjusted gross revenue (AGR).

The remaining AGR for February, amounting to $3.5 million, was taxed at a rate of 57%, which will persist for the remainder of the year. Comparatively, in the same period of 2023, the state had collected $9.6 million in taxes, whereas it amassed $5.8 million in the first two months of 2024.

Despite a decline in the overall drop, table games revenue witnessed an upward trend. Delaware, being the pioneer in internet casino gaming since 2013, surpassed the $1 billion threshold for table drop, with $48.8 million wagered in February.

BetRivers accounted for nearly 10% of the total table drop within its initial two months of operation in Delaware.

In February, table drop figures were over three times higher than those from 12 months prior, with $1.1 million in adjusted gross revenue generated, nearly four times the revenue recorded in February 2023.

Slot drop also experienced a significant increase from January to $68.4 million, alongside a 17.5% rise in gross revenue to $3.2 million.

Delaware Park emerged as the leading track among the three, recording a $63.2 million drop and $2.4 million in gross revenue. Bally’s Dover and Harrington Raceway followed closely, with respective gross revenue figures of $826,900 and $930,000.