Rhode Island’s Income Fails to Impress Despite Reaching A Record High Handle In September

Home » Rhode Island’s Income Fails to Impress Despite Reaching A Record High Handle In September

It seems that Rhode Island’s income earned from betting is not as big as it was in the last couple of months. Compared to September, Rhode Island’s betting revenue declined slightly during October. In September, operators earned $2.5m from the vertical, and reached the highest-ever handle.

During this record month, players wagered a total of $28.3m on sports in the state, surpassing the previous record set in March ($23.6m). In October, a decline followed and the revenue figure was 2.3% less than in September.

Despite its slight fall, it would be wrong to say that the state is losing money. In fact, online sportsbook handle (online market was opened in September 4th) went up 78% while the winnings from online bets doubled from September ($5.4m). Total online revenue was $442,686.
Twin River’s flagship Lincoln casino continues to earn the most. In this venue, the players staked $18.4m and casino earned revenue of $1.7m, up 6.4% from September. Its record month was June 2019 though.

Still, even this mighty casino has its troubles. This month, its revenue fell 20.3% and it was mainly caused because its online income fell too. The casino earned at $4.1m in stakes and $349,607 in revenue.

Despite being the only venues that accepts legal sports wagers in Rhode Island, Twin River casinos failed to impress.

Source: https://www.igamingbusiness.com/news/ri-sports-betting-revenue-declines-despite-record-handle

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