The United States Igaming Revenue Report — February 2023

March 20, 2023 1:40 PM
Photo: A composite created by CDC Gaming Reports from Shutterstock images
  • Deke Castleman, CDC Gaming Reports
March 20, 2023 1:40 PM
  • Deke Castleman, CDC Gaming Reports
  • Connecticut
  • Delaware
  • Michigan
  • New Jersey
  • Pennsylvania
  • West Virginia

An overview of igaming revenue in Michigan, New Jersey, Pennsylvania, Connecticut, West Virginia, and Delaware, the six states where online gambling is legal in the U.S.

National

Total igaming revenue for February 2023 in Michigan, New Jersey, Pennsylvania, Connecticut, West Virginia, and Delaware added up to $459.9 million, yet another year-over-year increase, a full 21.5% more than last year’s $361.1 million.

Michigan

Michigan’s online casinos generated $148.2 million in February. The total ended Michigan’s string of four consecutive months for record igaming revenue, but it was still the third highest win since igaming was launched and the month was two-three days shorter than normal. It was a nearly 21% increase over the $122.8 million in February 2022 and it was the second month in a row that Michigan out-earned New Jersey for igaming revenue.

BetMGM remained the market leader with $48.4 million in revenue, while second-place FanDuel (Motor City) earned $29.5 million.

Michigan’s 15 online casino operators paid $37.5 million in total taxes, 20% more than the $21.6 million in February 2022; $26.3 million of it went to the state, the rest to the city of Detroit and the 12 tribal governments.

New Jersey

The internet-gaming win in the Garden State last month was $142.6 million, reflecting growth of 9.7% compared to $130 million in 2022.

As always, Borgata/BetMGM led the pack with a $39.7 million win, up 5% from the previous-period’s $37.8 million, while second-place Golden Nugget came in at $36.5 million, an increase of 5.7% year over year. Third-place Resorts Digital earned $36 million, a major 20.3% increase over February 2022’s $29.9 million.

New Jersey collected its 15% Internet Gross Revenue Tax of $21.4 million, a rise of just under 9% over last year’s $19.5 million.

Pennsylvania

The third-largest gaming state registered $131.6 million in igaming revenue last month, a jump of 24.4% over February 2022’s $99.5 million.

Total revenue from online slots, $92.8 million, was 36.3% over last year’s $68.1 million. Online table games earned $36.1 million, up 15% from $31.4 million. And online poker’s $2.7 million was a rare drop in this space, nearly 7% less than February 2022’s $2.9 million.

Hollywood Casino at Penn National continued to hold its top spot with a gross of $56.5 million, 24.4% higher than the $42.7 million of a year ago.

Pennsylvania collected $56.3 million in taxes from igaming, an increase of 25% year over year.

Connecticut

Connecticut’s two operators earned $23.3 million in igaming revenue in February, an increase of 26.4% over February 2022’s $17.1 million. DraftKings (Foxwoods) and FanDuel (Mohegan Sun) paid their 18% in taxes to the Constitution State, a total of $4.2 million, up a commensurate 26.2% from $3.1 million last year.

West Virginia

For the four-week period ending February 25, West Virginia generated $13.1 million in igaming revenue, which set a new record. It was also 39% more than the $8 million earned in February 2022. West Virginia hosts seven online-casino operators: BetMGM, FanDuel, and Golden Nugget (on the Greenbrier license); PointsBet and DraftKings (on the Charles Town license); and Caesars and BetRivers (on the Mountaineer’s license).

Delaware

Delaware’s February igaming revenue of $1.1 million was an increase of roughly 26% year over year. Online video lottery (slot) games once again accounted for the lion’s share of income at $800,562, as compared to the previous-period’s $708,121, while table games generated $277,722, a major increase over the $102,844 in February 2022. Online poker revenue was also up substantially to $44,816, a 28% year-over-year leap.