Rhode Island Continuing iGaming Growth With New Revenue High Of $2.25 Million In May
Online slots contributed 72% of the total NGR in May, collecting $1.6 million, while online table games made up the remaining 28%.
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The Rhode Island Lottery has released its latest iGaming revenue figures, for May 2024, marking the Ocean State’s third month offering legal online casinos, and the revenue is — by a small margin — the state’s highest yet.
On March 5, Rhode Island became the latest state to launch online casino gaming, with Bally’s Casino as its sole operator. With the addition of Rhode Island, seven U.S. states now offer legal iGaming, including Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia. For the month of May, all states combined generated online casino revenue of $635 million.
The Rhode Island Lottery reported total net gaming revenue (NGR) of $2.25 million from iGaming in May — up 8.4% from the $2.08 million reported in April and up 86% from the $1.2 million the state generated in March. March, however, was only a partial month, making May technically the state’s second full month with online casinos.
Total NGR for FY 2024 now stands at over $5.5 million.
Breaking down the numbers
Online slot games contributed 72% of the total NGR in May, collecting $1.6 million, while online table games made up the remaining 28% with $627,472.
Total wagering handle accumulated to $61.2 million, bringing the state total to over $140 million since its iGaming debut. Of all wagers in May, 55% were placed on online slots, and table games made up the other 45%.
While Rhode Island generated the least revenue of all seven iGaming states, it is the newest and least populated state to join the iGaming pack, and it has only one online casino (and two land-based casinos).
Rhode Island follows closely behind Delaware, which reported $3.9 million in iGaming revenue in May. Michigan sits on top of the table, reporting the highest figures for May, setting a new monthly record of $198.6 million in revenue.
Last week, Bally’s Corporation joined the Responsible Online Gaming Association (ROGA) to empower consumers to make informed decisions about their online gaming. The company also released its Q1 2024 results in May, reporting $618.5 million in total company revenue, up 3.3% year-on-year.
“We also successfully launched iGaming in Rhode Island in early March. iGaming revenues in Rhode Island have ramped nicely through April in accordance with expectations, and we believe this momentum will continue to build through the balance of 2024,” commented Bally’s CEO Robeson Reeves in the Q1 report.
