DraftKings’ aggressive promotions and solid 3.9% hold were the main drivers of Connecticut’s record-breaking $31.6M in online casino revenue in April. The state spearheaded a nationwide spike in iGaming revenue of 32.5%.
The seven states that allow regulated online casino gambling generated $868.6 million in April, with each demonstrating at least a 25% year-over-year increase.
The cumulative increase from April 2024 was 32.5%, totaling more than $213 million. There was minimal drop-off in April following a record-breaking March of more than $900 million in operator revenue, with Connecticut setting a new milestone for the second consecutive month.
The known wagering handle reached $10.2 billion, as Michigan and New Jersey do not report monthly drop numbers. Pennsylvania contributed more than $7.5 million of the total, while Connecticut cleared $1.6 billion for the third time in four months.
Taxable operator revenue in April reached $787.9 million, with the state claiming $169.3 million of that total. That number, which increased by $43.9 million from the previous year, excludes municipal taxes and tribal payments.
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Focus on Connecticut
The Nutmeg State is effectively a duopoly, with DraftKings and FanDuel competing for customers’ attention and funds. DraftKings has been active in the previous two months, with a near-$11 million promotional spend in April, the second consecutive month in eight figures and an all-time record. It also contributed approximately 1.4% of the total $816.4 million loss.
That investment, along with some success on the virtual felt and slots, including an all-time high hold of 3.9%, amounted to a record harvest of $31.6 million in total revenue. That was up 38.3% from the previous year and about $3.2 million more than the short-lived peak of $28.4 million reached in March.
Courtesy: https://igamingexpert.com/, https://www.igbnorthamerica.com/, https://gamingamerica.com/news/
