National Online Casino Revenue Totals $482 Million For June

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The six states that offer regulated internet casino gaming combined to generate $482.1 million in gross revenue for the month of June, a 24.3% increase compared to last year.

Michigan paced the group with $151 million, with New JerseyPennsylvania was the only other state to reach nine figures at $135.4 million, while Connecticut, West Virginia, and Delaware generated $46.3 million among them. The Nutmeg State accounted for more than two-thirds that amount, with $31.6 million in gross operator winnings.

The known betting handle for the month — New Jersey and Michigan do not provide those figures — exceeded $6.3 billion. Pennsylvania failed to reach $5 billion in handle for the first time since last November, falling just $33 million shy of the benchmark, but its June handle was still up 35.4% year-over-year.

Connecticut was denied its first back-to-back months with $1 billion in accepted wagers, finishing June $37.4 million short. It has topped $1 billion handle on three occasions since launching in October 2021, peaking at $1.09 billion in March.

Overall, the sextet’s $2.97 billion in gross revenue through June is a 22.6% improvement from the first half of last year. Internet casino gaming has generated $583 million in state taxes through the first six months of 2023, $113.7 million more than the same period from a year ago.

Michigan and New Jersey in a tight race for top spot

June’s figures gave Michigan slightly more breathing room in the race for the No. 1 spot in revenue this year. Operators in the Wolverine State generated $934.6 million in gross revenue through the first six months, $3.8 million more than their Garden State counterparts. BetMGM has been a key difference maker, ranking No. 2 nationally with $305.4 million in gross revenue for the first six months of the year via MGM Grand in Detroit.

June marked the sixth time in seven months Michigan’s iGaming revenue surpassed $150 million, with the total a 24.6% increase compared to 2022. Much of the growth can be traced to FanDuel’s iGaming suite, as the online tether to Detroit’s MotorCity Casino had a 53.4% spike in year-to-date gross revenue from 2022 to $182.9 million.

Though New Jersey barely missed its fourth straight month with $150 million in iGaming revenue, it too is enjoying strong year-over-year growth. Operator revenue climbed 14.3% compared to the first half of 2022, with the Borgata, Golden Nugget, and Resorts comprising the bulk of that amount with a combined $737.9 million in winnings.

Here’s a look at June’s top 10 online-revenue-generating casinos across all legal states:

The Keystone State is home to the top revenue generator

Pennsylvania’s higher tax rate structure — the state has a 54% levy on slots and 16% on both table games and poker rake — makes it the national leader in terms of tax revenue so far in 2023 with $232.1 million. But the Keystone State is also home to the top online revenue generator in the United States, via PENN Entertainment.

The mobile extension of Hollywood Casino — which also includes skins for DraftKings, BetMGM, Barstool, and PointsBet — was one of only two operators to surpass $300 million in revenue for the first half of the year and leads all comers with $348.6 million. That is a 32.3% increase over the comparable period from last year.

June’s total Pennsylvania iCasino handle of $2.4 billion sent the all-time total since launch in July 2019 above $60 billion.

DraftKings getting the better of FanDuel in Connecticut

Internet casino action is still relatively new in Connecticut and a de facto duopoly as DraftKings operates via Foxwoods and FanDuel through Mohegan Sun. Both operators, though, have made themselves a presence in the 21 months since launch.

DraftKings has proven the more popular of the two iGaming suites in both handle and revenue, with the latter figure at $106 million for the first half of 2023. DraftKings has also been able to maintain its advantage despite a pullback in promotional spend; the $20.6 million lavished in credits the last six months is down 81.6% from the same period last year, when the online leviathan was trying to establish a foothold in the marketplace.

Checking up on West Virginia and Delaware

West Virginia recently added its ninth online operator with WynnBET, which made Mardi Gras Casino the fourth of the five venues in the state to have at least one iGaming offering. It had a modest start the final week-plus of June, generating $2.2 million handle and $76,000 in revenue.

That was the proverbial cherry on top of a banner first half of 2023 in which revenue surged 49.1% higher, to $75.8 million, compared to the first six months of last year.

Delaware, which was the first state to launch iGaming way back in November 2013, just ahead of New Jersey, also posted strong year-to-date gains versus 2022. Its $7.4 million in operator winnings was a 15.7% improvement from January through June of last year, boosted by a 25.3% rise in handle to $244.5 million.