Delaware iGaming Plunges 42% to $152k in March
April 20, 2017 10:24 amDelaware’s online gambling market suffered a hugely disappointing March after business plunged by 42% to just $151,811, or $108,000 less compared to the $260,539 taken in the same month last year. Overall, the state’s three iGaming operators have now generated $597,056 for the first quarter of 2017, representing a 12% year-on-year revenue decline for the industry.
Needless to say, last month’s numbers do not make pretty reading, with video lottery games down by 36% to $98,467, casino games lower by 48% to $35,629, and poker taking a 53% dive to just $17,715. Accounting for the bulk of revenues in March was Delaware Park, which saw its takings drop 49% to $76,449, and Harrington Raceway, which bucked the negative trend by almost doubling its year-on-year takings to $54,647. Posting the biggest decline, however, was Dover Downs, which experienced a 76% fall in business to $20,715.
The latest results come as a blow to Delaware’s iGaming market, which for the whole of 2016 noted an impressive 62% gain versus 2014’s tally. Last year even closed out on a bumper month in which revenues of $229,987 were collected, but now March’s figure represents the lowest amount taken since July of 2015, leaving analysts scratching their heads as to what has caused the sudden reversal in the First State’s fortunes.
One reason for the malaise suggested is the unseasonably warm weather Delware enjoyed in March encouraging its residents to pursue more outdoorsy activities. However, other analysts have pointed to a lack of recognizable brands in the state’s gaming market, compared to say partypoker and PokerStars which dominate New Jersey’s thriving online industry.
Furthermore, with summer just around the corner, Delaware can expect to see its online gaming revenues continue their downward trajectory, ushering in a rather rocky ride for the industry over the coming months. After heading in the right direction last year, Delawares poor March performance also makes it less likely that New Jersey might consider entering into any future interstate compact with the Delaware/Nevada pairing.