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Who needs that 30th and 31st day of the month? In 2024, the Delaware Lottery showed that it only needs 29 days to comfortably set a new single-month record for revenue from online casino play. Of course, having a revamped product from partner Rush Street Interactive played a large part.
During February, Delaware’s physical casinos coasted while sportsbooks got a needed reprieve. Rush Street Interactive’s sports betting product could help the Delaware Lottery avoid what looked like it would be a disappointing fiscal year in that department.
Delaware sees short-lived online casino revenue record
January 2024’s record revenue from legal online casino play in Delaware didn’t last long. In two fewer days, February 2024 surpassed it by almost 12%. February 2024’s revenue total is also about 71% higher than the same month in 2022.
As a result, the running revenue total for Delaware online casinos for the current fiscal year is up 31.6% over the same sum for the first eight months of FY2022-23. Other numbers from the Delaware Lottery show exactly why February is now the gold standard in this regard.
From January to February, registrations fell by about 76.3%. At the same time, promo deductions rose by around 99.2%. Those numbers suggest that a lot of the people who signed up for BetRivers Casino in Delaware in January might have gotten around to actually playing on the app in February and using their introductory bonuses.
At the same time, it’s possible that the Delaware Lottery and RSI were more active in pushing promotions during February. A mix of those two factors could also explain those changes.
Regardless, March numbers will start to tell a fuller story as users start to exhaust those bonuses. Those statistics will begin to show whether or not those players are making actual cash deposits and continuing to play thereafter.
The numbers for legal sports betting across Delaware continue to get better.
Delaware sports bettors hit new mark
In February 2024, Delaware residents and visitors wagered almost $13.8 million on sporting events using the state’s licensed online and physical sportsbooks. That’s a new high for the month in the state for any year.
The books won just over a million dollars of that money, representing an increase of 70.4% in terms of gross win compared to February 2023. That figure also is a new Delaware record for February.
While these figures are nowhere near the state’s records for any single month, they are helping the Delaware Lottery to start to turn around what had been a disappointing fiscal year.
Through the first eight months of the term, gross sports betting win is now down 15.4% compared to that slice of FY2022-23. With similar gains in the next four months, it might be possible for the current term to land within a marginal difference from the past period.
That’s exactly where win from poker, slots, and table games at the state’s three physical casinos is currently living.
Physical casino win sees a marginal annual increase
Gross win from gaming (excluding in-person sports betting) at Bally’s Dover, Delaware Park, and Harrington for February 2024 came to almost $37.6 million in February 2024. That’s a slight uptick from February 2023.
That pushes the running total for the current fiscal year to over $310.5 million, also up marginally from the first eight months of FY2022-23.
In total, Delaware’s gaming industry showed signs of enviable growth in February 2024. The further dispersion of online gambling products by Rush Street Interactive (NYSE: RSI) is a big reason why.
