January 29, 2021 Sports Betting, Casino, Online, Land-Based

Rhode Island December sports betting revenue suffers 60% monthly decline

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Rhode Island sportsbooks earned $2.5m in December 2020, representing a 60% month-on-month decrease, according to figures released by the Rhode Island Lottery.

The decline in revenue comes amid the closures of the state’s two casinos for much of December, in light of COVID-19 restrictions. 

Twin River and Tiverton Casino - both owned by Bally’s Corporation - were closed from 29 November to 21 December amid a rise in coronavirus cases throughout the state. Once reopened, operating hours were limited between 6am and 10pm from Sunday to Thursday, and until 10.30pm on Fridays and Saturdays, with capacity limits also in place. 

The closures also impacted sports betting handle, which reached $22.8m in December. The figure represented a 28% year-on-year decline, and a monthly drop of 35%. 

Mobile betting led the way in both handle and revenue, reaching totals of $18.3m and $2.2m respectively. The former represented a 17% increase from November, with the latter representing a 14% decrease from November. 

Twin River meanwhile saw stakes reach $3.3m, with revenue reaching just $64,027. And Tiverton Casino recorded stakes of $1.2m for December, with revenue reaching $237,676. Both handle figures represented declines from the same period last year, with Twin River falling 83% and Tiverton Casino falling 33%. 

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