December blues: Rhode Island’s sports handle declines
Land-based operators were severely affected by the Covid surge.
Rhode Island sports betting numbers are on for the month ending December 21 and the action appears to have been significantly lower than run of high numbers that had marked the three months prior.
December marks the sixth month in Rhode Island’s fiscal year, which began on the 21st of June.
The report summarizes the data coming from the state’s two casinos – Twin River Lincoln Casino Resort and Tiverton Casino, both owned and operated by Bally’s Corporation – as well as the state’s online numbers.
Online numbers exceeded those of the land-based casinos by leaps and bounds last month, undoubtedly a factor of the Omicron Covid surge which rapaciously spread across the Northeast just prior to the holiday season.
A breakdown of the online data shows that $31m was wagered, $29.7m was paid out, leading to revenue of $1.2m for sportsbooks.
At Twin River, $6.1m was wagered, $5.8m was paid out, and revenue amounted to $326,000.
The low take was mirrored in the state’s other land-based destination, Tiverton, where $6.1m wagered saw a $5.8m payout which led to $275,000.
The combined numbers for the month are $54.9m wagered, $53.7m payout, leading to revenue of $1.1m.
Altogether, the month’s numbers were a sharp decline from a pattern of growth that emerged at the summer’s end. November itself saw a total revenue of $6.7m, vastly superior to December’s total.
While the decline from November reflects a national trend – October and November were on the whole a lot more active than December – the precipitous decline of the land-based casinos suggests an industry still affected by the pandemic.
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