Delaware’s Sports Betting Revenue Reaches $12.5 Million in 2019

During the entire 2019 sports betting in the state of Delaware has amassed a total revenue of $12.5 million. This was the first full year of legalized sports betting there.

Over the first year, consumers spent $102.6 million on sports wagering in total and have won $79.6 million. 2.55 million wagers have been placed through operators that have licenses.

Delaware Park Leading the Way

Leading operator was Delaware Park…

…who reported a $7.8 million in revenue, after taking $64.1 million in bets.

Their revenue rose 25.2% on annual level. 2018’s profits were $6.2 million, but in that year, Delaware was accepting bets for only six months in the second half of the year.

5.4% rise was seen in customer spending, year-on-year, with this casino operator.

Coming up at a second place was Dover Downs. They have collected $2.6 million in revenue, which is a 52.9% increase over 2018’s 1.7 million. Player spending also rose 5.4% on annual level.

December Contributed Largely

The only remaining licensed operator in Delaware, Harrington Raceway, came up third with $2.2 million in revenue – rising 120% from one million in 2018. Their player’s wagers jumped 72.6% from $10.2M to $17.6M.

December’s performance contributed to these figures in a big way – the revenue in this month climbed from November’s $1.4 million to $1.6 million. In the final month of the year, wagers rose 29.1%, from $10.3 million to $13.3 million.

It is curious, though, that December’s revenue was smaller to December of 2018 – 23.8%, from $2.1 million.

Records Were Broken

During the course of a successful 2019…

…there were several monthly revenue records broken in this state.

The most notable is the one from September, then the annual online gaming turnover reached $384,830 mark.

Previously, in April, Dover Downs was acquired by Twin River Worldwide. Speaking about this, Twin River’s executive chairman, John Taylor, said:

“Our management team has done a great job diversifying our revenue base and creating sustainable growth. The Dover Downs acquisition and New York Stock Exchange listing mark the beginning of a new chapter for us by adding to our geographic base, providing us currency for strategic steps and eventually leading to liquidity for stockholders.”

Source:

“Delaware sports betting revenue hits $12.5m in 2019”, igbnorthamerica.com, January 7, 2019.