Tax News

New Jersey sports betting revenue surges 47% in August

New Jersey’s sports betting revenue surged by 47 per cent to $96.0 million in August, taking the state’s total gambling revenue for the month to $531.6 million.

Sports wagers were up by 33 per cent to $725.8 million, with online wagers of $697.1 million and $28.8 million from retail betting.

The online [...]

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DraftKings dominates Massachusetts online sports betting in August

Online sports wagers in Massachusetts climbed versus the previous month to $307.2 million in August, with DraftKings accounting for 53 per cent of the market.

DraftKings’s online wagers were $161.9 million and its 53 per cent share in August was the brand’s highest since launch in March.

FanDuel was the nearest rival [...]

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Massachusetts casino revenue up by 7% in August

Massachusetts’ three land-based gaming properties reported a 7 per cent increase in revenue to $98.1 million in August 2023.

Monthly revenue from gaming activities was up by 6 per cent to $97.9 million, with retail sports betting contributing $177,213.

Slot machines earned revenue of $67.5 million, a 4 per cent rise year-on-year, [...]

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Virginia gaming revenue rises to $55 million in August

Virginia’s land-based gaming revenue climbed to $55.1 million in August and marked the third consecutive month with revenue above $50 million.

Slot machine revenue was $40.0 million in the month, with $15.1 million coming from gaming tables. There were 3,205 active slot machines across Virginia's three casinos in August and 135 [...]

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Illinois sports betting surpasses $610 million in July

Sports betting handle in Illinois climbed by 18 per cent to $611.4 million in July, taking the total for the year above $6 billion.

Online betting grew by 20 per cent to $595.0 million in July, offsetting a 19 per cent fall in retail betting to $16.4 million.

DraftKings held 38 per [...]

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Detroit, Michigan

Michigan commercial gaming revenue falls to $105 million in August

Michigan’s commercial gaming revenue from its three casinos fell by 1 per cent to $104.9 million in August because of weaker retail sports betting revenue.

Adjusted gross revenue from gaming, excluding sports betting, was unchanged on the previous year at $104.6 million, with only the Greektown Casino showing year-on-year revenue growth.

The [...]

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Maryland reports August sports wagers of $264 million

Maryland’s sportsbooks generated wagers of $263.7 million in August and took the state’s total bets since the start of the year above $2.5 billion.

Mobile sports betting brought in $250.4 million in August and retail betting accounted for the remaining $13.4 million.

FanDuel led Maryland’s mobile betting with wagers of $104.2 million, [...]

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Colorado Flag

Colorado posts record tennis wagers in July

Sports wagers in Colorado rose by 9 per cent to $281.1 million in July, and included a new record for tennis betting in the Centennial State.

Tennis wagers in July were 39 per cent higher year-on-year at $33.9 million, with other secondary betting sports also having a strong month. Table tennis [...]

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Kansas sports handle hits $1.85 billion in first year

Sports handle in Kansas’s first year of regulated betting hit $1.85 billion, after August wagers came in at $94.4 million.

In the first 12 months, online sports betting generated handle of $1.77 billion in Kansas and retail betting contributed $81.2 million.

Total betting gross win since last September amounts to $166.4 million, [...]

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Maryland casinos report $161 million in August revenue

Maryland’s six land-based casinos earned total gaming revenue of $161.4 million in August, a fall of 5 per cent on the same month last year.

Revenue from the state’s slot machines was below $110 million for the first time since February, down by 3 per cent to $109.1 million, with table [...]

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Kentucky retail sports betting market goes live

Kentucky’s regulated sports betting market opened on Thursday with Governor Andy Beshear placing the first bet.

Governor Beshaer was at Churchill Downs to celebrate the launch of the market by placing a $20 parlay bet backing the University of Kentucky and University of Louisville football teams over North Carolina’s Duke University.

“Today [...]

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Virginia sports betting drops below $300 million in July

Sports betting handle in Virginia was $293.6 million in July, falling below the $300 million mark for the first time in 2023.

Online sports betting rose by 9 per cent year-on-year to $291.0 million, with the remaining $2.6 million coming from retail wagering at Virginia’s casinos.

The overall betting margin was 11.1 [...]

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