The United States Igaming Revenue Report – March 2022

The United States Igaming Revenue Report – March 2022

  • Deke Castleman, CDC Gaming Reports
April 20, 2022 2:46 PM
  • Deke Castleman, CDC Gaming Reports
  • Other

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

National

Internet casino gambling set revenue records in New Jersey, Michigan, and Pennsylvania in March, while Connecticut and Delaware fell just short of establishing new highs for win. Total igaming revenue for March in the six states where it’s legal added up to $410.1 million, a 12% increase over February’s $361.1 million. Of course, March had three days more than February, but the new records and near records in five of the six states compare to months with the same number of days.

New Jersey

For the 13th month in a row, revenue earned from online-casino gambling in New Jersey topped $100 million; it seems a given that igaming revenue will hit nine figures most months, if not every month, going forward. Indeed, New Jersey’s $140.7 million for March 2022 set a new record, besting the old one of $137.8 million set in January by 2.1%. It was also an increase of 7.6% over February’s $130 million.

As always, Borgata/BetMGM led the pack with $41.4 million in win, up 6.7% over February’s $37.8 million, while second-place Golden Nugget Online Gaming came in at $38.3 million, up an even greater 9.7% over February’s $34.6 million. Third-place Resorts Digital earned $30.8 million, up 3% over last month’s $29.9 million.

New Jersey collected $21.1 million in taxes on igaming for the month of March, up a commensurate 7.6% over February’s $19.5 million.

Michigan

Michigan’s online casinos generated $131.7 million in March. Like New Jersey, Michigan’s internet gaming gross revenue set a new record, surpassing the old one of $122.8 million set the previous month by 6.8%; it was also the first time Michigan surpassed $130 million in igaming revenue. March’s revenue was the seventh month in a row that Michigan registered more than $100 million igaming win.

Also the same as in New Jersey, BetMGM remains the market leader with $47.9 million, 4% higher than February’s $46.9 million. Second-place FanDuel (Motor City) earned $22.5 million, an increase of a bit more than 10% over February’s $20.1 million.

Michigan’s 14 online casino operators paid $33.1 million in state taxes and fees, with $7.1 million going to the city of Detroit and a little more than $2 million collected by tribal governments.

Pennsylvania

Completing a trifecta, the third-largest igaming state overall also set a new record for online-gambling revenue and surpassed $110 million for the first time. Pennsylvania’s $118.1 million crushed February’s $99.5 million in igaming revenue by 15.8% and was the fourth month in a row of $100 million-plus in revenue.

Total revenue from online slots, $79.2 million, was a commensurate 14.1% increase over February, while online table games earned $35.7 million, up 12% month over month. And online poker’s $3.2 million was 9.5% higher than February’s $2.9 million.

Penn National Gaming continued to hold its top spot with a gross of $45 million, an increase of 5.1% over the previous month’s $42.7 million,

Pennsylvania collected just under $49 million in taxes from igaming, up 6% over February’s $42.3 million

West Virginia

For the period between February 26 and April 2 (the state reports weekly results), West Virginia’s revenue from internet casino gambling was $10.3 million. Though it was a boost of 29.1% over February’s $8 million, it was actually six days longer than the previous reporting period, so it’s not an apples-to-apples comparison. Still, March’s weekly revenue was $2.07 million, as compared to February’s $2 million, so it was a week-by-week increase of a bit.

Connecticut

In its fifth full month of igaming, Connecticut’s two operators, DraftKings and FanDuel, earned $18.3 million, up 6.9% from February’s $17.1 million. Unlike New Jersey, Michigan, and Pennsylvania, Connecticut didn’t set a new online-casino revenue record, falling short by a half-million dollars from January’s $18.8 million.

DraftKings and FanDuel paid their 18% in taxes to the Constitution State in March, which came to $3.3 million, up 6.9% from February’s $3.1 million.

Delaware

Delaware’s March igaming revenue of a fraction more than $1 million reflected the nationwide upward trend by increasing by nearly 15% over February’s $843,000. Like Connecticut, however, Delaware’s revenue fell slightly short of the record of $1.1 million set in January, but it was the third of four months that igaming surpassed the seven-figure mark.

Online video lottery (slot) games once again accounted for the lion’s share of income at $897,266, up 13% over February’s $708,121, while table games’ $68,754 was a precipitous drop of 24.5% from February’s $102,844, especially considering three more days in the month. Online poker revenue was a tad more than $36,000, 10.6% higher than February’s $32,280.