Delaware iGaming Revenues Rebound 42% In NovemberDecember 19, 2014 2:13 pm
Following October’s disappointing results, which at $130,468 were the lowest of the year so far, Delaware’s online gambling revenues have rebound sharply in November and were up by 42% to $184,898 compared to the previous month. However, the positive news was tempered slightly by the fact new account signups totaled a mere 308 players, which was the lowest number yet recorded in the state’s 13 month old online gambling history, and a far cry from the 2,654 online gamblers who signed up in the very first month of regulation.
According to the latest figures released by the Delaware Lottery, Delaware Park continues to dominate the state’s iGaming industry with a 66% share of the market worth $122,894 in November, followed by Dover Downs with a 17% market share ($31,421), and Harrington Raceway only slightly behind with a 16% share ($30,582).
While Delaware’s table games and video lottery products accounted for $152,084 of revenues, the state’s online poker tables generated a further $32,814, representing a 15% improvement over the previous month. Once again, Delaware Park took the lion’s share of revenues, equal to 59% of Delaware’s online poker market. In spite of November’s impressive growth rate, online poker revenues have also dramatically declined since reaching a peak in December 2013 of $106,922, with last month’s tally 69% lower by comparison.
November’s online poker revenues highlight the pressing need for Nevada and Delaware to implement their Multi State Internet Gaming Agreement (MSIGA), as a lack of player liquidity and by extension game choices is making poker an unattractive proposition for gamblers compared to the other online gambling games available.
Delaware’s three casinos combined with their online gambling operations are an important source of income for the state, and on average account for around 6% of the state budget. As a post which appeared on delawareonline.com, explains:
“The state’s three casinos generate more state tax revenue than all of the state income tax paid by corporations operating in Delaware. And it rivals the amount generated by Delaware’s gross receipts tax, sometimes called the state’s hidden sales tax.. The state last year used almost $215 million in gaming revenue to pay its bills, including more than $62 million in gambling revenue from Dover Downs alone.”