Rush Street's First Year As Delaware iGaming Operator Produces 9x Increase In Gross Winnings

The Delaware Lottery reported Monday a record $7.7 million in adjusted gross internet casino gaming revenue for the month of December, capping a spectacular first year with Rush Street Interactive as its platform provider.

The state agency made the switch from 888 Holdings at the beginning of 2024, having signed a five-year agreement with Rush Street interactive after the BetRivers operator won the bidding process in August 2023. BetRivers hit the keyboards and smartphones running with a then-record $3.4 million in AGR in January and steadily built momentum, operator winnings, and tax revenue for the state throughout the year.

The $62.6 million in AGR for the calendar year was just over half the all-time total of almost $125 million, which dates back to when Delaware became the first state to launch iGaming back in November 2013. The state reaped $37.3 million worth of receipts in 2024, nearly four times the $9.6 million claimed in 2023.

Aggressive promo spend pays dividends

The ability for Rush Street Interactive to deduct a portion of its promotional spend proved pivotal in having a robust 2024 performance in the First State. Overall, it counted deductions totaling 14.1% of its $72.9 million in gross winnings — roughly $10.3 million — and $4.2 million of that came in the final three months of the year, when it claimed $24.8 million in revenue after launching live-dealer iGaming in September.

As points of comparison, FanDuel and DraftKings were allowed to deduct 25% of their respective promotional spend in their first 12 months of operations in Connecticut when launched in October 2021. Michigan has permitted operators to deduct 10% of their outlay since launch in January 2021.

The previous high for monthly revenue by 888 Holdings was $1.4 million in March 2023, but Rush Street climbed the ladder throughout 2024. BetRivers topped $4 million in gross revenue March, $5 million in June, $6 million in September, and $7 million in November before December's record haul of $9.2 million.

In terms of year-over-year comparisons, the $72.9 million in gross winnings was an increase of more than nine times the $7.9 million reported in 2023. The $62.6 million in taxable revenue did not match that surge but was still impressive at nearly 4.5 times the $14.1 million claimed by 888 Holdings.

Increases across the board

There are three separate iGaming skins in Delaware, all operated by Rush Street. Among them, Delaware Park maintained its status as the state's bell cow for all things gaming — its $1 billion-plus total drop for 2024 was nearly five times the $206.3 million played in 2023 after a record $118.6 million was wagered in December. Its $32.3 million AGR for the year was up 481.2% from 2023 after closing out 2024 with a record $3.7 million in winnings in December.

Harrington Raceway and Bally's Dover also reported substantial revenue growth in 2024.

Harrington's AGR was 368.9% higher than the previous year at $17.8 million, and the nearly $4 million in winnings from November and December combined exceeded its full-year 2023 total by nearly $200,000.

The track formerly known as Dover Downs saw year-over-year taxable revenue climb 165.6% to $12.5 million. It also rang out 2024 in strong fashion with a record $1.6 million in the final month, nearly quadrupling its December 2023 total of $433,400.