Home NewsCasino Washington DC revenues down 38.6% for November

Washington DC revenues down 38.6% for November

100 views 2 minutes read

The DC Lottery reported Monday that Washington DC’s gross gambling revenue (GGR), which is the total amount of money generated by gaming, fell by 38.6% during November.

Washington DC’s GGR fell to $1.2m in November (PS942,086/EUR1.1m), a far cry from the $1.9m in September or the $2m in October.

The GGR decreased despite the total handling increasing from $16.4m to $17.1m since October.

The average percentage of bets held was just 7.17 percent. Tax revenue fell to $12,801, its lowest level since August.

Washington DC stagnates

Washington’s November wagering was $21.4m, a decrease of 20.1% from November 2018.

GGR dropped 53.8% compared to November 2022, when it was $2.6m. Washington’s tax revenues for November, which totaled $122,801, were far behind those of $264,169 in the same period last year.

Washington DC’s sports betting markets also declined year-on-year during October.

Washington DC saw a slight improvement in August, where only $8.1m had been staked.

Caesars and Gambet battle it out

Caesars Sportsbook is still a major competitor in Washington DC despite its average November revenue of only 6.34%.

Caesars’ $6.1m handle in the last month was well above BetMGM ($3.9m) and Flutter Entertainment’s Fanduel (804,438 dollars). It is notable that it has a better handling than Gambet which runs by DC Lottery powered by Intralot and posted $5.9m.

Caesars overtook Gambet by August but Caesars November gross revenue of $384.907 was behind Gambets $469.457.

Caesars, despite retaining the top position in November 2022, followed the trend of declining revenue year over year. The casino’s total handle in November 2018 was down 9.9% from the previous year, and its gross gaming revenue was half what it was last month.

You may also like

About Us

On iGamingWorld, we provide in-depth analysis, the latest news and opinions from famous people of the gaming industry.

Featured Posts