The United States Igaming Revenue Report – January 2023

February 21, 2023 1:02 PM

The United States Igaming Revenue Report – January 2023

Photo: A composite created by CDC Gaming Reports from Shutterstock images
  • Deke Castleman, CDC Gaming Reports
February 21, 2023 1:02 PM
  • Deke Castleman, CDC Gaming Reports

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 January 2022 in Michigan, New Jersey, Pennsylvania, Connecticut, West Virginia, and Delaware added up to $476 million, a major increase of 17.2% over January 2022’s total of $394 million.

Michigan

Michigan’s online casinos set another record for igaming revenue in January: $153.7 million. It was not only nearly 27% more than the $121.1 million earned in January 2022, it was the fourth straight month that Michigan icasinos set a new revenue record and the first time that Michigan surpassed New Jersey in igaming GGR, thus taking the top spot for the first time in this Report.

BetMGM remains the board leader with $52.8 million, up a substantial 16.9% year over year. Second-place FanDuel (Motor City) earned $28.9 million, a whopping 30.5% increase over the previous January’s $20.1 million.

Michigan’s 14 online casino operators paid $34.6 million in taxes, a leap of 21% over January 2022’s $19.1 million. Just under $25 million went to the state, with the rest going to the city of Detroit and tribal governments.

New Jersey

For the month of January 2023, New Jersey’s internet-gaming win was $152.9 million, reflecting growth of 10.9% compared to $137.8 million in January 2022.

Borgata/BetMGM led the pack once again with a $40.8 million win, an increase of 4.3% year over year. But second-place Golden Nugget Online Gaming closed the gap with an 11.3% increase to $40.6 million. Could the days of BetMGM’s long hegemony in New Jersey be numbered? And that’s not all; third-place Resorts World is right up there in the hunt at $40.2 million, a major 21.8% jump from 2022’s $33 million.

New Jersey collected $22.9 million in taxes for the month, 6.6% higher than the $21.4 million million in January 2022.

Pennsylvania

Online casino gaming in Pennsylvania generated $133.1 million in January 2023 compared to $108.3 million in January 2022, an increase of 22.9%.

Total revenue from online slots, $90.2 million, was up 20.4% year over year, while online table games earned $40 million, an increase of 17.2%. Online poker’s $2.9 million took a dive from last year’s $3.4 million, down 14.7%.

Hollywood Casino at Penn National continued to hold its perch at the top of the list with a gross of $55 million, an increase of 9% year over year, while Valley Forge Casino took in $29.7 million, essentially flat from the previous January’s total. Rivers Casino Pennsylvania was a close third at $28.5 million, also unchanged from January 2022.

Pennsylvania collected a record $55.6 million in taxes, a major 23.6% jump over the previous period.

Connecticut

Igaming in Connecticut jumped 22.3% in January 2023 to $24.2 million over January 2022’s $18.8 million.

DraftKings and FanDuel, the two main online-casino operators, paid $4.4 million in taxes to the state, exactly $1 million (22.7%) more than in January 2022.

West Virginia

In January 2023, West Virginia igaming operations cleared $10.9 million, a significant 37.6% increase over January 2002 and its $6.8 million. It’s never an apples-to-apples monthly comparison, however, and January’s reporting period was from December 31 through January 28 (29 days), while January 2022’s period was 27 days.

Delaware

Delaware’s January igaming revenue of $1.2 million remained fairly steady, as it usually does, earning 8.5% more than the previous January’s $1.1 million.

Online video lottery (slot) games once again accounted for the lion’s share of income at $979,980, higher by 8.1% than January 2022’s $823,386, while table games generated $164,754, a plunge of an equivalent 8.4% year over year. Online poker revenue rose to $45,127, up 8.1% year over year.