Online Gambling Revenue Plummets in Delaware
The online gambling industry has puzzled industry experts as the revenue it generated in March 2017 plummeted. The online casinos in Delaware only won just over $150 000 during the course of the month, which equates to a 42% decrease when compared to what they made in March 2016.
Delaware’s iGaming Revenue drops by over 40%
This massive drop in revenue meant that the three online gambling operators in Delaware took in nearly $110 000 less than they did 12 months ago. Wind the clocks back to March 2016 and the three operators took in just over $260 000 during the course of the month.
Out of the three operators, Delaware Park, Dover Downs, and Harrington Raceway, Dover Down suffered the most. The racetrack’s online platform was only able to generate $20 000, which dropped by 75% compared to last year.
Even the largest company in the state, Delaware Park, wasn’t spared from the bad month. While it did see the total wagers placed grow to just under $5.9 million, its bottom line dropped by nearly 50%. This was largely due to Delaware Park having a poor hold on video lottery games.
The smallest operator in Delaware, Harrington, was the only one with good news. Revenue generated by Harrington’s through online gambling had more than doubled.
What went wrong in Delaware?
The month of March 2017 has now become the worst month for the iGaming industry in Delaware since mid-2015. 2016 was the state’s best year to date, so March has come as quite a shock.
Unfortunately, no one really seems to know why. It just seems like players weren’t playing all that much. Some have suggested that the decline could have been due, in part, to the unseasonably warm weather experienced by the state in March. Winter storms affected parts of Pennsylvania and New Jersey, but Delaware was largely untouched by these storms.
New Jersey, on the other hand, saw a massive 40% increase in revenue generated by its five Internet gambling organizations, compared to March 2016. This helped to relieve the pressure felt by the land-based casino in Atlantic City.