Online Gaming Report: Big Jumps Seen In November RevenueOnline Poker Numbers Remain Flat |
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U.S. legalized states saw significant revenue growth in November for online gaming, although online poker stagnated a bit. One major highlight was a new iGaming record in Michigan.
Pennsylvania and New Jersey also saw major revenue jumps for iGaming as well. On the downside, sports betting produced some serious declines in some states. Here’s some insight on the November numbers.
Pennsylvania
The Pennsylvania Gaming Control Board (PGCB) reported total November revenue of $444.5 million from all forms of gaming, a drop of 1.7% from November 2022. Online gaming operators produced $158 million, up 22.8% from $128.6 million last November. Of that, online slots saw $109.3 million and table games checked in at $46.4 million
Online poker registered $2.3 million, the same number from October and down about $240,000 from November 2022.
Total sports betting handle reached $934.1 million, a new monthly record and an increase of 18.4% from $789.2 million in November 2022. But taxable revenue was just $12.9 million, a 75.6% decrease from $52.9 million last year. The PGCB reported that the major decline came from significant non-taxable promotional play by the recently launched ESPNBet as well as low hold percentage that benefited bettors. Retail betting totaled $2.6 million and online wagering was $10.3 million.
New Jersey
The New Jersey Division of Gaming Enforcement reported the state’s nine casinos produced total gaming revenue of $214.9 million, up 0.2% from $214.5 million in November 2022. Year-to-date revenue reached $2.6 billion, an increase of 1.8% from $2.6 billion in 2022.
iGaming revenue reached $171.6 million, a rise of 17.4% from $146.2 million from November2022. Year to date, online gaming accounted for $1.7 billion, up 15.4% from $1.5 billion in 2022. Online poker was unchanged from 2022 at $2.1 million.
Sports betting gross revenue saw a 19.2% increase to $95.9 million compared to $80.4 million in 2022. That made for $897.2 million year to date, up 32.9% from $675.3 million in 2022.
Total live gaming revenue was $482.4 million, moving up 9.4% from $441.1 million in 2022 – and $5.3 billion year to date, up 10.5% increase from $4.8 billion last year.
Michigan
Operators reported $209.2 million in online gaming and sports betting gross receipts in the Wolverine State in November. That’s an uptick of 1.9% from October. November iGaming set a new record at $175.3 million, up from the previous high of $171.8 million in March.
Online sports betting gross receipts were $33.9 million. Combined iGaming and online sports betting adjusted gross receipts (AGR) reached $158.1 million with $157.8 million from iGaming, but only $294,810 from online sports. Online casino advanced 9.4% while sports dropped 98.7% compared to October.
Compared to November 2022, online casino AGR was up by 20.5% while sports dropped a massive 98.9%. Total online betting handle reached a new record at $568.8 million, an increase of 6.7% from $533 million in October. The ESPNBet launch may have also played a role in these drops. Michigan includes online poker as part of the overall online gaming statistics.
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