Rhode Island sports betting revenue slips in May

Legal sports wagering revenue in Rhode Island fell 54.4% month-on-month to $899,165 (£710,940/€793,504) in May, despite punters spending more on betting than in April.

The Twin River Lincoln and Tiverton casinos, the only two venues licensed to offer sports betting in the US state, took a total of $18.9m in wagers, up from $16.9m in the previous month.

However, with the casinos paying out a combined $18.0m to punters – compared to $14.9m in May – revenue fell and ended two consecutive months of revenue growth in Rhode Island.

Twin River’s Lincoln remained the venue of choice for consumers in the state, with players spending a total of $14.6m on sports betting in May, up from $13.7m in the previous month. The Lincoln facility paid out $14.1m in overall winnings, leaving it with revenue of $574,703 for the month.

In contrast, Twin River’s Tiverton casino processed $4.3m in sports bets and paid out $3.9m, resulting in revenue of £324,462 in May. This was down on revenue of $399,149 in April, despite the venue experiencing a higher handle.

Read the full story on iGB North America.