Rhode Island Online Casinos Hit Record Monthly Revenue in May
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In the second full month since iGaming was legalized in the Ocean State, the Rhode Island Lottery reports an 8.4% increase in net gaming revenue compared to April.
Rhode Island hit a new iGaming revenue milestone in May, which marks the second full month of operation since online casinos were legalized in the Ocean State.
In a report published by the Rhode Island Lottery, the state's iGaming market generated $2.25 million in net gaming revenue (NGR) in May, up 8.4% from the $2.08 million reported for April and up 86% from the $1.2 million reported for March.
May was the state’s highest-grossing month for iGaming to date, bringing the total NGR to over $5.5 million.
Rhode Island players wagered over $61.2 million at online casinos in May, with 55% ($33.7 million) spent on slots and the remaining 45% ($27.4 million) on table games. After prizes were paid out, slot revenue comprised 72% of NGR with ($1.6 million), while the remaining 28% ($627,472) was derived from table games.
Rhode Island launched its legal iGaming market on March 5, with Bally’s being the state’s sole online provider. The launch made Rhode Island the seventh US state to legalize iGaming, following Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia. All states combined generated $635 in revenues for May.
As the least populated and newest state to join the iGaming market, RI revenues were the lowest overall following Delaware, which reported $3.9 million for May. Topping the iGaming table was Michigan, with record-breaking revenues of $198.6 generated in May.
“iGaming revenues in Rhode Island have ramped nicely through April in accordance with expectations, and we believe this momentum will continue to build through the balance of 2024,” said Bally’s CEO, Robeson Reeves, in the company’s Q1 report.
