![]() ![]() The daily average revenue was $5.2 million, a monthly drop of just 1.7%, a good result for this time of year.New Jersey online gambling sites produced $161.4 million in May 2023, up 18.7% year-over-year.Caesars Casinohas begun to backslide following a couple of very strong months, with its daily average revenue down 23% in May and its market share falling by nearly a full percentage point to 4.6%.Michigan’s year-to-date total is $783.6 million, 3.5% lower than the Bonus forecast.The daily average revenue was $4.9 million, a monthly drop of 8.6%, the worst in state history.That’s the lowest annual growth rate in state history. Michigan online gambling sites won $150.6 million in May 2023, up 18.2 % year-over-year.Unibet’s decision to focus on the online casino vertical in 2023 may be paying off, as its daily average GGR shot up 44% month-over-month.Pennsylvania’s year-to-date total is now $867.9 million, 3.0% lower than the Bonus forecast.The daily average revenue was $5.5 million, a monthly drop of 1.4%.That’s an improvement over 21.2% in April. Pennsylvania online gambling sites won $170.4 million in May 2023, up 24.6% year-over-year.Online Gambling Revenue Highlights – May 2023 Pennsylvania Mohegan has gradually ramped up its spending to approximately 24% of its GGR in May. Starting in January 2023, it suddenly dropped spending to around 20% of GGR, the maximum allowable as a tax deduction. For most of 2022, DraftKings Casino returned virtually all its gross revenue to players through bonuses. Most impressive is that Connecticut’s acceleration comes despite a massive reduction in promotional spending. ![]() However, since then, West Virginia’s annual growth has gradually dropped from over 100% to just 37% in May. Both states have likely benefitted from the launch of live dealer games in the past year: West Virginia in June 2022 and Connecticut the following month. Smaller, younger markets like Connecticut and West Virginia have been growing faster than others. It beat the forecast by 2.6% in February, 9.2% in March and April, and 11.3% in May. Like most other states, Connecticut began the year slightly slower than expected, at 1.1% below the projection. We projected only $29.5 million in combined online revenue for the two operators – DraftKings and Mohegan Sun. The margin by which it is exceeding expectations is growing. Instead, it has brought in $158.5 million, or 6.3% above the projection, whereas many other states have fallen short. The 2023 Bonus iGaming revenue forecast called for $149.2 million in GGR from Connecticut over the first five months of the year. Although May’s 57% annual growth figure is a state record, it has averaged around 43% and never lower than 34%.Įven so, the acceleration of its growth is surprising. Connecticut’s Annual Online Casino Growth Tops US ChartsĬonnecticut’s success hasn’t come out of nowhere. That’s somewhat less of a drop than 5.3% over the same period in 2022 and in line with our projections ( see notes). That’s down from $532 million in April, despite May being one day longer.Ĭalculated as a daily average, national iGaming GGR fell 3.9% month over month. That includes online poker as well as online casino gaming, but not sports betting or other verticals. The six states with legal online casinos produced a total of $528 million in gross iGaming revenue in May 2023. At the same time, gamblers are spending more time out of the house in the warm weather and have less time for mobile casino games. However, they get less crossover traffic from sports bettors while leagues like the NFL, NBA and NHL are in their offseason. Online casinos don’t exhibit quite as much seasonality as sportsbooks. The breakout performance for the Nutmeg State comes as the US market as a whole enters its traditional summer slump. It and Michigan both experienced the worst monthly drop in daily average revenue in their respective histories. Until now, West Virginia has been the state known for its small population but explosive iGaming growth rate, but it is finally showing signs of slowing down. Connecticut is now the fastest-growing online casino market in the US, reaching a 57% annual growth rate in May. ![]()
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