August Revenues From Sports Betting Brings Relief To Rhode Island Casinos

August Revenues From Sports Betting Brings Relief To Rhode Island Casinos

Rhode Island casinos have long been struggling to drive revenue growth. In August the sports betting handle at sate casinos increased moderately.

According to the figures released by the Rhode Island Lottery, the revenue from overall sports betting operations in the state went up to $851,788 in August from $827,579 in July.

Punters in the state wagered over $10 million in August.

Rhode Island Lottery posted a total of $10.6m in overall betting handle in August. For the previous month, the gambling regulator had posted $8.3 million in the betting handle.

The Twin River Lincoln Casino topped the chart in terms of grossing maximum sports betting handle. Punters wagered $7.4m at the casino up from $6.6 million in July.

However, the gambling facility generated $607,836 for the month in revenue slightly down from $607,836 in July.
While the betting handle at the Twin River Tiverton casino jumped from $1.5 million to $2.1 million, its revenue increased by over 18.7 percent month-over-month to $243,952.

Amidst shrinking revenue and challenges from the neighboring Encore Boston Harbor casino, Rhode Island launched online sports betting operations earlier this month.

It expects to gross about $22 million by June 2020 in mobile sports betting.

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