Gross gaming revenue is calculated after promotions are deducted. Before these deductions, revenue was $21.6m, down 3.6%.
The Mashantucket Pequot Tribal Nation – which operates Foxwoods Casino and partnered with DraftKings for online betting and gaming – continued to lead the way in gross online casino revenue, bringing in $13.7m. The tribe made a further $46,953 in revenue from mobile-on-reservation gaming, with its own Foxwoods-branded app.
Meanwhile, the Mohegan Tribe – which partnered with FanDuel – brought in $7.8m in gross revenue.
The combined online casino revenue came on $743.9m worth of stakes, with $493.6m staked with the Mashantucket Pequot Tribe and $249.5m with Mohegan.
In addition, players staked $17.2m worth of promotional credits with the Mashantucket Pequot Tribe and $1.0m with Mohegan.
After taking these promotions into account, the Mashantucket Pequot Tribe’s net revenue was $10.3m, while for the Mohegan Tribe it was $6.8m.
Each operator then paid 18% of this total to the state, meaning that the Mashantucket Pequot Tribe paid $1.9m and the Mohegan Tribe $1.2m.
Turning to sports wagering, combined online and retail revenue before deductions was $5.0m, slightly less than half of the total recorded in January and the lowest total since October, which included only 20 days of legal betting. Of this total, $4.7m came from online bets.
After deductions, revenue was $3.6m.
The Mashantucket Pequot Tribe took in the most revenue, with $3.2m, while Mohegan took in $1.1m, with both tribes generating all of their revenue from online betting.
The Connecticut Lottery – which partnered with Rush Street Interactive – brought in an additional $443,848 in online betting revenue, plus $358,165 from retail betting.
The $5.0m in revenue came on bets worth $115.6m. This included $108.8m wagered online. Players wagered $48.8m with the Mashantucket Pequot Tribe and $47.3m with Mohegan, plus $12.6m with the lottery’s online product and $6.8m in retail bets with the lottery.
After excise taxes and promo deductions, the state received $313,199 from the Mashantucket Pequot Tribe, $98,897 from the Mohegan Tribe, $42,522 from the lottery’s online operations and $46,898 from its retail operations.
Original article: https://igamingbusiness.com/connecticut-sports-betting-igaming-revenue-february/
